Chapter 04 · Section 4.1
Compensation
In assuming the role of guarantor and thus taking a risk of default, the clearing house receives as compensation:
a) a fixed annual fee, paid by the exchange.
b) a fixed annual fee, paid by the individual clearing members.
c) a commission for every trade cleared, paid by the exchange.
d) a commission for every trade cleared, paid by the individual clearing members.
e) a and c
f) b and d
Transaction costs for option trades primarily break down into the following: brokerage, trading and clearing fees.