When do I get a 50% fee discount on my RFQ trade

As a general rule of thumb, an RFQ provides trading fee discounts for the following:

• Spreads (buy one, sell another) in the same underlying are charged for one leg only, meaning a 50% total discount.
• Delta hedge legs are generally not charged.

More precisely, a pair of legs is eligible for a trading fee reduction if:

1. Both legs are in the same underlying.
2. They are not 2 long options or 2 short options:
   • a Straddle has no fee reduction.
     
3. The sum of delta is between -1 and 1:
   • a hedged call has a trading fee reduction, but a long call with a long future does not. Similarly, a pure synthetic has reduced trading fees, but a comparable pair where both options are in the money, does not.