Exercise/assignment fees on cash-settled ITM strikes

[iprome]

It turns out that one of my brokers charges exercise and assignment fees on SPXW ITM strikes ($5 per strike). See attached. I thought exercise and assignment fees would only apply to settlements that involve underlying deliveries. Am I wrong? Is it the norm in broker business? Thanks.

 

[fyretrading]

yeah most brokers charge fees for cash settled indexes, the only one that didnt charge me was optionhouse , which they are now etrade i think

 

[FSU]

$5 is what I currently pay per strike, no matter the number of options exercised/assigned, in cash settled indexes.

 

[iprome]

yeah most brokers charge fees for cash settled indexes, the only one that didnt charge me was optionhouse , which they are now etrade i think

$5 is what I currently pay per strike, no matter the number of options exercised/assigned, in cash settled indexes.

Thank you for sharing your experiences.