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London Aluminium Mini Futures

London Aluminium Mini Futures is the first batch of Renminbi (RMB)-traded commodities contracts to be launched in Hong Kong. It is designed to match Chinese physical players’ exposure to commodities contracts priced in RMB, to ease margin financing needs for entities holding RMB and to establish RMB pricing of metals in Asian trading hours. In addition, it offers market participants arbitrage opportunities with other commodities exchanges. 


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Contract Specification

Contract
London Aluminium Mini Futures
Underlying
High Grade Primary Aluminium as defined in the rules and regulations of The London Metal Exchange from time to time
HKATS Code
LRA
Contract Size
5 tonnes
Trading Currency
 RMB
Contract Months
Spot Month and the next eleven calendar months
Minimum Fluctuation
 RMB 5.00 per tonne
Trading Hours1
(Hong Kong Time)
9:00 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 1:00 a.m. the next morning (after-hours trading session)
Trading Hours on
Last Trading Day
(Hong Kong Time)
9:00 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 8:00 p.m. (after-hours trading session during British Summer Time)
5:15 p.m. to 9:00 p.m. (after-hours trading session outside British Summer Time)
Last Trading Day
(LTD)
The LTD determined by the LME for its Aluminium Futures (i.e. Usually two business days before the third Wednesday of the Spot Month). If it is not a Hong Kong Business Day, the LTD shall be the immediately preceding HK Business Day
Final Settlement Price
Shall be a whole number, determined by the Clearing House, and shall be the Official Settlement Price determined and published by the LME for its Aluminium Futures, and converted to RMB equivalent using the USD/CNY(HK) Spot Rate published by the Treasury Markets Association in Hong Kong at or around 11:30 a.m. Hong Kong time on the Last Trading Day. It is rounded up if the figure in the first decimal place is 5 or above and rounded down if it is below 5
Settlement Type
Cash-settled
Holiday Schedule
Follow HKFE holiday schedule
Exchange Fee2
(per contract per side
)
 RMB 3.00
Commission Levy
RMB 0.44**
Commission Rate
Negotiable
Calendar spreads
Cover Spot Month and the nearest 11 serial month

Notes : 

1. There is no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year.  The trading hours on those three days shall be 9:00 a.m. to 12:30 p.m. There is no after-hours trading session if it is a bank holiday in the United Kingdom, the United States and the People’s Republic of China

2. The amount indicated above is subject to change by the Exchange from time to time

** The RMB equivalent of HK$0.54 per contract at the exchange rate determined by the Exchange from time to time 

Please note the following disclaimers and copyright notice regarding information provided on the Treasury Markets Association (TMA)'s website:

a. The price fixings and reference rates on the TMA’s website are provided with delays for general information purposes. While the TMA will make all reasonable efforts to ensure a continuous, accurate and timely service, the TMA and other data providers make no warranties, representations or undertakings, expressed or implied by law or otherwise, in relation to the price fixings and reference rates and are not responsible for any errors or omissions, or losses caused by disruptions in the service or late publication of the daily rates or inaccuracy of the daily rates or otherwise arising from the use of or reliance on the price fixings and reference rates. By viewing or downloading these rates, you implicitly accept this disclaimer and agree to its terms.

b. The TMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided on its website.

c. The content available on the TMA’s website, including but not limited to all text, graphics, drawings, diagrams, photographs and compilation of data or other materials, are protected by copyright. The TMA is the owner of all copyright works contained in its website. The information or part of it may be re-disseminated or reproduced provided the source of the information is acknowledged and that the re-dissemination or reproduction is for a non-commercial purpose.

Margin Table

Trading Hours

Contract London Aluminium Mini Futures
Trading Hours1
(Hong Kong Time)
9:00 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 1:00 a.m. the next morning (after-hours trading session)
Trading Hours on
Last Trading Day
(Hong Kong Time)
9:00 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 8:00 p.m. (after-hours trading session during British Summer Time)
5:15 p.m. to 9:00 p.m. (after-hours trading session outside British Summer Time)

1. There is no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year. The trading hours on those three days shall be 9:00 a.m. to 12:30 p.m. There is no after-hours trading session if it is a bank holiday in the United Kingdom, the United States and the People’s Republic of China



Trading Fees and Commissions

Contract
London Aluminium Mini Futures
Exchange Fee1
(per contract per side)
RMB 3.00
Commission Levy
RMB 0.44**
Commission Rate
Negotiable

1. The amount indicated above is subject to change by the Exchange from time to time
** The RMB equivalent of HK$0.54 per contract at the exchange rate determined by the Exchange from time to time


Derivatives Market Access Codes

Vendor Name
Access Code
AASTOCKS.com Limited
221380
ACTIV Financial Systems Inc.
LRA/<year><month_code>.<exchange_code>
AFE Solutions Limited
870801
Bloomberg LP
RALA Cmdty
DB POWER ONLINE LIMITED
LRA
FactSet Research Systems
LAR
Fidessa Ltd
LRA_Fmy.HF
Infocast Limited
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Morningstar Real Time Data
LRAym
QuotePower Int'l Ltd.
P11210
SIX Financial Information
LRAym
Telequote Data Int. Ltd.
LRAmy
Tele-Trend Ltd.
LRAmyy
Thomson Reuters
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