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HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations
18 Apr 2011

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 8 April 2011.

HSI, MHI, HHI and MCH Futures Markets

The margin levels of Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI) and Mini H-shares Index (MCH) futures contracts will be temporarily increased after the close of business on 20 April 2011 (Wednesday) as outlined in the table below:

Futures Contract Full Margin Rate Initial Margin
(HK$)
Maintenance Margin (HK$)
HSI Current Level   71,300 per lot 57,050 per lot
Temporarily Increased Level 75,150 per lot 60,100 per lot
     
MHI Current Level 14,260 per lot 11,410 per lot
Temporarily Increased Level 15,030 per lot 12,020 per lot
     
HHI Current Level 40,100 per lot 32,100 per lot
Temporarily Increased Level 42,500 per lot 34,000 per lot
     
MCH Current Level 8,020 per lot 6,420 per lot
Temporarily Increased Level 8,500 per lot 6,800 per lot

The spread margin rates will remain unchanged during this period. The margin levels of HSI, MHI, HHI and MCH futures contracts will be restored to the current levels after the close of business on 21 April 2011.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 20 April 2011 (see Appendix). The margin intervals will be restored to normal after the close of business on 21 April 2011.

The above arrangements are based on the clearing houses’ normal procedures. Exchange Participants have been advised to give advance notice to their clients regarding the arrangements where appropriate.

Appendix

Stock Options Classes Client Margin
Intervals as of 15 Apr
(%)
Temporary Client Margin Intervals
(%)
iShares FTSE A50 China Index ETF 5 6
Agricultural Bank of China Limited  7 9
AIA Group Limited 6 8
Aluminum Corporation of China Limited 7 8
Bank of China Limited 5 7
Bank of Communications Co., Ltd. 5 6
The Bank of East Asia, Limited 6 8
BOC Hong Kong (Holdings) Limited 7 8
BYD Company Limited 12 16
China Construction Bank Corporation 6 7
China Communications Construction Company Limited 10 12
China Coal Energy Company Limited 9 12
China COSCO Holdings Company Limited 7 8
China Mobile Limited 5 6
China Unicom (Hong Kong) Limited 10 12
CITIC Pacific Limited 8 10
Cheung Kong (Holdings) Limited 8 9
China Life Insurance Company Limited 6 8
CLP Holdings Limited 5 5
China Merchants Bank Co., Ltd. 7 8
CNOOC Limited 8 12
China Overseas Land & Investment Limited 9 12
Cathay Pacific Airways Limited 9 11
China Petroleum & Chemical Corporation 8 9
China Pacific Insurance (Group) Co., Ltd. 7 8
China Railway Construction Corporation Limited 9 12
China Railway Group Limited 10 13
W.I.S.E. – CSI 300 China Tracker 5 6
China Shenhua Energy Company Limited 7 8
China CITIC Bank Corporation Limited 7 8
China Telecom Corporation Limited 8 11
Esprit Holdings Limited 8 10
Foxconn International Holdings Limited 9 10
Power Assets Holdings Ltd. 5 5
Hong Kong Exchanges and Clearing Limited 7 9
HSBC Holdings Plc. 6 8
The Hong Kong and China Gas Company Limited 5 5
Henderson Land Development Company Limited 8 11
Huaneng Power International, Inc. 5 6
Hang Seng Bank Limited 5 6
Hutchison Whampoa Limited 8 9
Industrial and Commercial Bank of China Limited 6 7
Jiangxi Copper Company Limited 9 11
Li & Fung Limited 12 15
MTR Corporation Limited 5 5
New World Development Company Limited 6 8
Ping An Insurance (Group) Company of China, Ltd. 9 13
PetroChina Company Limited 8 10
PICC Property and Casualty Company Limited 10 13
Guangzhou R&F Properties Co., Ltd. 10 12
Sun Hung Kai Properties Limited 6 8
Swire Pacific Limited 'A' 7 8
Tencent Holdings Limited 12 15
Tracker Fund of Hong Kong 5 6
The Wharf (Holdings) Limited 8 11
Yanzhou Coal Mining Company Limited 10 12
Zijin Mining Group Company Limited 8 9


Ends

Updated 18 Apr 2011