Is there a primer on the purpose of exchange seats and how they affect options commissions? I trade only equities and stock options - no futures, commodities, etc. My basic understanding is that you can lease a seat on CME for example and then send your info to Interactive Brokers to get your discounted transaction rate. I don't see much info on how much of a discount you actually as compared to paying 0.65/contract. I'm non-US so this might not be applicable to me but I'm wondering how much someone could actually save with a seat.
You want an IOM seat for index futures. Last trade $19,000 plus $2,000 application fee. Call CME and ask for membership. They will email you the forms to fill in. When you are accepted as a member email membership at interactivebrokers.com and they will apply the exchange fee discount. savings $1.23 exchange fee per contract.