Options Regulatory Fee (ORF)

The ORF is an exchange fee which OCC collects from its clearing members, including IB.  Its stated purpose is to assist in offsetting exchange costs relating to the supervision and regulation of the options market (e.g., routine surveillance, investigations, and policy, rule-making, interpretive and enforcement activities). The fee was initiated by the CBOE in mid-2009, by each of the BOX, ISE and PHLX in January 2010, by AMEX and ARCA in May 2011, by Nasdaq in January 2012, by C2 in August 2012, by Miami in January 2013, by ISE GEMINI in August 2013, by BATS in February 2015, by Nasdaq BX in February 2016, by BATS EDGX in February 2017 and by PEARL in February 2017. It is currently assessed to customer orders at a rate of $0.0378 per U.S. exchange listed option contract with the rate per exchange as follows: 

EXCHANGE ORF
AMEX $0.0055
ARCA $0.0055
BATS $0.0005
BOX $0.0038
CBOE $0.0049
C2 $0.0014
EDGX $0.0004

ISE

$0.0016

GEMINI $0.0010
MIAX $0.0045

NOM

$0.0027
NASDAQBX $0.0005
PEARL $0.0010
PHLX

$0.0045

Total $0.0378


Note that the ORF  is assessed on all trades, both buys and sells, in addition the IB commission charge as well as any existing exchange fees (e.g., liquidity removal) and will be reflected on the Activity Statement as a Regulatory Fee.