My question: I have received rebates for fees on occassion when trading options. I know I can do this by force routing through certain exchanges and being on the maker side. Which exchanges allow this? Any other info is appreciated.
Each exchange has different rates based on whether you are adding or taking liquidity, whether it is a complex order, whether it is a penny class option, etc. The highest rebates for non penny, customer, single leg options are Bats and Pearl, both paying .85, then C2 and NSDQ paying .80, then ARCA and GMNI both paying .75. Note that many times you may be better off at an exchange that pays no rebates, as you will get a better fill that will more than make up for the rebate.
For non penny equity single leg customer orders, providing liquidity, the following exchanges pay nothing and charge nothing, Amex Cboe Box Ise Mcry Miami Phlx.
I do not want to post it publicly but if you send me a direct email I can send you our Options Exchange Pricing Schedule from 2/2019 (Last one I have) . This would be something we can offer on Realtick and CBOE Silexx for single leg orders in addition to SMART routes that would avoid these fees on all but cash settled indexes.
I would suggest you take Bob up on the offer. There are so many contingencies on rebates, such as penny/non penny, etf, filled vs customer or non customer, etc. You really need a full pricing schedule vs just a few general amounts that I posted.
It is very complicated as in addition to fees per exchange there are rerouting fees. E.G. AMEX does not have a fee on most symbols. You send an order (NBBO market 1.00 x 1.02) to buy 100 at 1.02. If the AMEX does not have any offers there at 1.02 and a MM does not match the away offer, the order will be routed to the exchanges that do have orders on their book. The AMEX charges $0.11 to reroute the order plus you pay the option exchange fee of the option exchange where your order is executed. This is why most of our clients prefer our SMART route.
Robert's offer is very gracious - you may also want to go to each of the exchange(s) sights and get on the distribution list for their emailed updates. Ironically you'll find there is usually a fee update from one or more of the 16 every day.