Margin Levels for Futures Contracts - Current 
27/05/2016 
 

Please be reminded that the minimum margin rates below are for your firm's financially strongest clients. Exchange Participants should set their margin requirements according to each client's individual circumstances.  

 

Commodity Futures 

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(RMB)

(RMB)

(RMB)

London Aluminium Mini Futures

Full Rate

4,010

3,210

3,210

(/lot)

Spread Rate

1,210

963

963

(/spread)

London Copper Mini Futures

Full Rate

9,260

7,410

7,030

(/lot)

Spread Rate

2,780

2,230

2,110

(/spread)

London Nickel Mini Futures

Full Rate

5,180

4,140

4,140

(/lot)

Spread Rate

1,560

1,250

1,250

(/spread)

London Lead Mini Futures

Full Rate

3,710

2,970

2,880

(/lot)

Spread Rate

1,120

891

864

(/spread)

London Tin Mini Futures

Full Rate

9,790

7,830

7,830

(/lot)

Spread Rate

2,940

2,350

2,350

(/spread)

London Zinc Mini Futures

Full Rate

4,470

3,580

3,400

(/lot)

Spread Rate

1,350

1,080

1,020

(/spread)

   

     

Currency Futures 

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(RMB)

(RMB)

(RMB)

USD/CNH Futures

Full Rate

16,500

13,200

13,200

(/lot)

Spread Rate

4,790

3,830

3,830

(/spread)

Spot Month Charge

3,300

2,640

2,640

(/lot)

EUR/CNH Futures

Full Rate

13,820

11,060

11,060

(/lot)

Spread Rate

1,940

1,550

1,550

(/spread)

JPY/CNH Futures

Full Rate

13,450

10,760

10,760

(/lot)

Spread Rate

1,750

1,400

1,400

(/spread)

AUD/CNH Futures

Full Rate

13,210

10,570

10,010

(/lot)

Spread Rate

2,120

1,700

1,610

(/spread)

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(USD)

(USD)

(USD)

CNH/USD Futures

 

Full Rate

1,150

915

915

(/lot)

Spread Rate

332

265

265

(/spread)

  

     

   

Index Futures 

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(HK$)

(HK$)

(HK$)

Hang Seng Index Futures

Full Rate

67,150

53,750

53,750

(/lot)

Spread Rate

13,450

10,750

10,750

(/spread)

Mini-Hang Seng Index Futures

Full Rate

13,430

10,750

10,750

(/lot)

Spread Rate

2,690

2,150

2,150

(/spread)

H-share Index Futures

Full Rate

34,250

27,400

25,900

(/lot)

Spread Rate

10,300

8,250

7,800

(/spread)

Mini-H-share Index Futures

Full Rate

6,850

5,480

5,180

(/lot)

Spread Rate

2,060

1,650

1,560

(/spread)

CES China 120 Index Futures

Full Rate

14,670

11,730

11,730

(/lot)

Spread Rate

4,410

3,520

3,520

(/spread)

HSCEI Dividend Point Index Futures

Full Rate

1,820

1,460

1,460

(/lot)

Spread Rate

2,190

1,760

1,760

(/spread)

HSI Dividend Point Index Futures

Full Rate

4,040

3,230

3,230

(/lot)

Spread Rate

4,850

3,880

3,880

(/spread)

CES Gaming Top 10 Index Futures

Full Rate

14,130

11,300

11,300

(/lot)

Spread Rate

4,240

3,390

3,390

(/spread)

Hang Seng Mainland Oil & Gas Index Futures

Full Rate

6,950

5,560

5,300

(/lot)

Spread Rate

2,090

1,670

1,590

(/spread)

Hang Seng Mainland Banks Index Futures

Full Rate

7,390

5,910

5,910

(/lot)

Spread Rate

2,220

1,780

1,780

(/spread)

Hang Seng Mainland Healthcare Index Futures

Full Rate

12,140

9,710

9,710

(/lot)

Spread Rate

3,650

2,920

2,920

(/spread)

Hang Seng Mainland Properties Index Futures

Full Rate

11,800

9,440

9,440

(/lot)

Spread Rate

3,540

2,840

2,840

(/spread)

Hang Seng IT Hardware Index Futures

Full Rate

8,190

6,550

6,550

(/lot)

Spread Rate

2,460

1,970

1,970

(/spread)

Hang Seng Software & Service Index Futures

Full Rate

20,720

16,580

16,580

(/lot)

Spread Rate

6,220

4,980

4,980

(/spread)

HSI Volatility Index Futures

Full Rate

28,180

22,540

22,540

(/lot)

Spread Rate

8,460

6,770

6,770

(/spread)

IBOVESPA Futures

Full Rate

25,420

20,330

19,380

(/lot)

Spread Rate

7,630

6,100

5,820

(/spread)

S&P BSE Sensex Index Futures

Full Rate

16,190

12,950

12,950

(/lot)

Spread Rate

4,860

3,890

3,890

(/spread)

FTSE/JSE Top40 Futures

Full Rate

29,450

23,560

23,560

(/lot)

Spread Rate

8,840

7,070

7,070

(/spread)

MICEX Index Futures

Full Rate

22,110

17,700

17,700

(/lot)

Spread Rate

6,640

5,310

5,310

(/spread)

 

 

 

Interest Rate Futures 

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(HK$)

(HK$)

(HK$)

One-Month HIBOR Futures

Full Rate

997

798

770

(/lot)

Spread Rate

Please refer to the attached table

 

(/spread)

Three-Month HIBOR Futures

Full Rate

1,200

954

905

(/lot)

Spread Rate

Please refer to the attached table

(/spread)

 

Stock Futures 

 

 

Product

Client Margin

Clearing House Margin

Initial

Maintenance

 

(HK$)

(HK$)

(HK$)

iShares FTSE A50 China Index ETF Futures

Full Rate

3,520

2,820

2,650

(/lot)

Spread Rate

1,060

846

795

(/spread)

Agricultural Bank of China Ltd. Futures

Full Rate

9,430

7,540

7,220

(/lot)

Spread Rate

2,830

2,270

2,170

(/spread)

Aluminum Corporation of China Ltd. Futures

Full Rate

614

491

462

(/lot)

Spread Rate

185

148

139

(/spread)

Alibaba Pictures Group Ltd. Futures

Full Rate

8,730

6,980

6,630

(/lot)

Spread Rate

2,620

2,100

1,990

(/spread)

China AMC CSI 300 index ETF Futures

Full Rate

5,620

4,500

4,220

(/lot)

Spread Rate

1,690

1,350

1,270

(/spread)

AviChina Industry & Technology Co. Ltd. Futures

Full Rate

5,490

4,390

4,130

(/lot)

Spread Rate

1,650

1,320

1,240

(/spread)

Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Futures

Full Rate

2,300

1,840

1,740

(/lot)

Spread Rate

690

552

522

(/spread)

Bank of China Ltd. Futures

Full Rate

217

173

163

(/lot)

Spread Rate

66

52

49

(/spread)

Bank of Communications Co. Ltd. Futures

Full Rate

379

304

286

(/lot)

Spread Rate

114

92

86

(/spread)

The Bank of East Asia Limited Futures 

Full Rate

533

426

405

(/lot)

Spread Rate

160

128

122

(/spread)

BOC Hong Kong (Holdings) Ltd. Futures

Full Rate

750

600

587

(/lot)

Spread Rate

225

180

177

(/spread)

China Construction Bank Corporation Futures

Full Rate

316

253

253

(/lot)

Spread Rate

95

76

76

(/spread)

China Communications Construction Co. Limited Futures

Full Rate

1,040

829

789

(/lot)

Spread Rate

312

249

237

(/spread)

China Coal Energy Co. Ltd. Futures

Full Rate

4,510

3,610

3,430

(/lot)

Spread Rate

1,360

1,090

1,030

(/spread)

China Cinda Asset Management Co., Ltd. Futures

Full Rate

8,300

6,640

6,530

(/lot)

Spread Rate

2,490

2,000

1,960

(/spread)

CGN Power Co., Ltd. Futures

Full Rate

13,820

11,060

10,440

(/lot)

Spread Rate

4,150

3,320

3,140

(/spread)

China Oilfield Services Ltd. Futures

Full Rate

9,030

7,220

6,830

(/lot)

Spread Rate

2,710

2,170

2,050

(/spread)

China Hongqiao Group Ltd. Futures

Full Rate

5,950

4,760

4,540

(/lot)

Spread Rate

1,790

1,430

1,370

(/spread)

China Mobile Limited Futures

Full Rate

2,800

2,240

2,240

(/lot)

Spread Rate

840

672

672

(/spread)

China Unicom (Hong Kong) Limited Futures

Full Rate

1,580

1,270

1,190

(/lot)

Spread Rate

474

381

357

(/spread)

CITIC Limited Futures

Full Rate

1,070

851

801

(/lot)

Spread Rate

321

256

241

(/spread)

CK Hutchison Holdings Limited

Full Rate

2,980

2,380

2,380

(/lot)

Spread Rate

894

714

714

(/spread)

China Life Insurance Co. Ltd. Futures

Full Rate

1,890

1,510

1,420

(/lot)

Spread Rate

567

453

426

(/spread)

CLP Holdings Limited Futures

Full Rate

2,270

1,820

1,820

(/lot)

Spread Rate

681

546

546

(/spread)

China Merchants Bank Co. Ltd. Futures

Full Rate

729

583

552

(/lot)

Spread Rate

219

175

166

(/spread)

CNOOC Limited Futures

Full Rate

1,120

896

858

(/lot)

Spread Rate

336

269

258

(/spread)

Cathay Pacific Airways Limited Futures

Full Rate

963

771

725

(/lot)

Spread Rate

289

232

218

(/spread)

China Petroleum & Chemical Corporation Futures

Full Rate

1,090

866

824

(/lot)

Spread Rate

327

260

248

(/spread)

CRRC Corporation Ltd. Futures

Full Rate

8,340

6,670

6,270

(/lot)

Spread Rate

2,510

2,010

1,890

(/spread)

CSOP FTSE China A50 ETF Futures

Full Rate

3,750

3,000

2,830

(/lot)

Spread Rate

1,130

900

849

(/spread)

China Shenhua Energy Co. Ltd. Futures

Full Rate

14,730

11,780

11,150

(/lot)

Spread Rate

4,420

3,540

3,350

(/spread)

China CITIC Bank Corporation Ltd. Futures

Full Rate

6,600

5,280

5,010

(/lot)

Spread Rate

1,980

1,590

1,510

(/spread)

China Telecom Corporation Ltd. Futures

Full Rate

607

486

456

(/lot)

Spread Rate

183

146

137

(/spread)

CITIC Securities Co. Ltd Futures

Full Rate

17,940

14,350

13,550

(/lot)

Spread Rate

5,390

4,310

4,070

(/spread)

China South City Holdings Ltd. Group Ltd. Futures

Full Rate

1,340

1,070

1,010

(/lot)

Spread Rate

402

321

303

(/spread)

Digital China Holdings Ltd Futures (DIG: Multiplier = 5,000)

Full Rate

3,370

2,700

2,540

(/lot)

Spread Rate

1,020

810

762

(/spread)  

Digital China Holdings Ltd Futures (DIA: Multiplier = 7,402)

Full Rate

4,989

3,997

3,760

(/lot)

Spread Rate

1,510

1,199

1,128

(/spread)  

Esprit Holdings Limited Futures

Full Rate

75

60

57

(/lot)

Spread Rate

23

18

18

(/spread)  

Evergrande Real Estate Group Ltd. Futures

Full Rate

11,410

9,130

8,570

(/lot)

Spread Rate

3,430

2,740

2,580

(/spread)

FIH Mobile Limited Futures

Full Rate

306

245

232

(/lot)

Spread Rate

92

74

70

(/spread)

Fosun International Ltd Futures

Full Rate

9,740

7,790

7,330

(/lot)

Spread Rate

2,930

2,340

2,200

(/spread)

Guangzhou Automobile Group Co., Ltd. Futures

Full Rate

8,250

6,600

6,310

(/lot)

Spread Rate

2,480

1,980

1,900

(/spread)

GOME Electrical Appliances Holding Ltd. Futures

Full Rate

4,900

3,920

3,710

(/lot)

Spread Rate

1,470

1,180

1,120

(/spread)

Great Wall Motor Co. Ltd. Futures

Full Rate

9,060

7,250

6,820

(/lot)

Spread Rate

2,720

2,180

2,050

(/spread)

Haitong Securities Co. Ltd. Futures

Full Rate

11,530

9,220

8,730

(/lot)

Spread Rate

3,460

2,770

2,620

(/spread)

Power Assets Holdings Limited Futures

Full Rate

2,460

1,970

1,970

(/lot)

Spread Rate

738

591

591

(/spread)

Hong Kong Exchanges and Clearing Limited Futures 

Full Rate

1,350

1,080

1,030

(/lot)

Spread Rate

405

324

309

(/spread)

HSBC Holdings Plc. Futures 

Full Rate

1,810

1,450

1,370

(/lot)

Spread Rate

543

435

411

(/spread)

The Hong Kong and China Gas Company Limited Futures

Full Rate

913

730

730

(/lot)

Spread Rate

274

219

219

(/spread)

Henderson Land Development Company Limited Futures

Full Rate

3,570

2,850

2,710

(/lot)

Spread Rate

1,080

855

813

(/spread)

Huaneng Power International, Inc. Futures

Full Rate

1,420

1,140

1,070

(/lot)

Spread Rate

426

342

321

(/spread)

Hang Seng Bank Limited Futures (HSB: Multiplier = 100)

Full Rate

880

704

704

(/lot)

Spread Rate

264

212

212

(/spread)

Hang Seng Bank Limited Futures (HSA: Multiplier = 102)

Full Rate

900

720

720

(/lot)

Spread Rate

270

217

217

(/spread)

Huatai Securities Co., Ltd. Futures

Full Rate

20,600

16,480

15,560

(/lot)

Spread Rate

6,180

4,950

4,670

(/spread)

China Huishan Dairy Holdings Co. Ltd. Futures

Full Rate

8,880

7,100

7,100

(/lot)

Spread Rate

2,670

2,130

2,130

(/spread)

Industrial and Commercial Bank of China Ltd. Futures

Full Rate

314

251

237

(/lot)

Spread Rate

95

76

72

(/spread)

Kingsoft Corporation Ltd. Futures

Full Rate

8,670

6,930

6,590

(/lot)

Spread Rate

2,610

2,080

1,980

(/spread)

Li & Fung Limited Futures

Full Rate

807

646

613

(/lot)

Spread Rate

243

194

184

(/spread)

China Minsheng Banking Corp., Ltd. Futures

Full Rate

4,970

3,980

3,750

(/lot)

Spread Rate

1,500

1,200

1,130

(/spread)

MTR Corporation Limited Future (MTR: Multiplier = 500)

Full Rate

1,140

910

910

(/lot)

Spread Rate

342

273

273

(/spread)

MTR Corporation Limited Future (MTA: Multiplier = 531)

Full Rate

1,210

966

966

(/lot)

Spread Rate

363

290

290

(/spread)

New China Life Insurance Co. Ltd. Futures

Full Rate

12,610

10,090

9,470

(/lot)

Spread Rate

3,790

3,030

2,850

(/spread)

New World Development Co. Ltd. Futures

Full Rate

497

398

394

(/lot)

Spread Rate

150

120

119

(/spread)

Ping An Insurance (Group) Co. of China Ltd. Futures

Full Rate

1,660

1,330

1,250

(/lot)

Spread Rate

498

399

375

(/spread)

PetroChina Company Limited Futures

Full Rate

1,250

995

938

(/lot)

Spread Rate

375

299

282

(/spread)

PICC Property and Casualty Co. Limited Futures

Full Rate

2,720

2,170

2,060

(/lot)

Spread Rate

816

651

618

(/spread)

Poly Property Group Co., Ltd. Futures

Full Rate

2,380

1,910

1,790

(/lot)

Spread Rate

714

573

537

(/spread)

Sun Hung Kai Properties Limited Futures

Full Rate

6,180

4,940

4,940

(/lot)

Spread Rate

1,860

1,490

1,490

(/spread)

Semiconductor Manufacturing International Corporation Futures

Full Rate

2,870

2,290

2,160

(/lot)

Spread Rate

861

687

648

(/spread)

China Southern Airlines Co. Ltd. Futures

Full Rate

5,830

4,670

4,380

(/lot)

Spread Rate

1,750

1,410

1,320

(/spread)

SOHO China Ltd. Futures (SOH: Multiplier = 10,000)

Full Rate

2,676

2,141

2,016

(/lot)

Spread Rate

803

642

605

(/spread)

SOHO China Ltd. Futures (SOB: Multiplier = 11,210)

Full Rate

3,000

2,400

2,260

(/lot)

Spread Rate

900

720

678

(/spread)

Sunac China Holdings Ltd. Futures

Full Rate

5,980

4,790

4,500

(/lot)

Spread Rate

1,800

1,440

1,350

(/spread)

Swire Pacific Limited "A" Shares Futures

Full Rate

2,650

2,120

2,120

(/lot)

Spread Rate

795

636

636

(/spread)

Tencent Holdings Ltd. Futures (TCH: Multiplier = 1,000)

Full Rate

10,160

8,130

8,130

(/lot)

Spread Rate

3,050

2,440

2,440

(/spread)

Tencent Holdings Ltd. Futures  (TCA: Multiplier = 10,000)

Full Rate

101,600

81,300

81,300

(/lot)

Spread Rate

30,500

24,400

24,400

(/spread)

The Wharf (Holdings) Ltd. Futures

Full Rate

3,540

2,830

2,680

(/lot)

Spread Rate

1,070

849

804

(/spread)

Yanzhou Coal Mining Co. Ltd. Futures

Full Rate

5,700

4,560

4,320

(/lot)

Spread Rate

1,710

1,370

1,300

(/spread)

Zijin Mining Group Co., Ltd. Futures

Full Rate

3,270

2,620

2,470

(/lot)

Spread Rate

981

786

741

(/spread)