Market Turnover
-






-
-
|
|
|
|
|
|
-
-
-
Loading

HKFE Announces Revised Margins for Futures Contracts

Market Operations
28 Apr 2011

  Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

 

 

HKFE Announces Revised Margins for Futures Contracts

 

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Tuesday, 3 May 2011, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below.  The adjustments are based on the clearing company’s normal procedures and standard margining methodology.

For the current margins, please refer to the margin information on the HKEx website. 

 

Futures Contract Margin Rate Initial Margin
(HK$)
Maintenance Margin
(HK$)
Hang Seng Index Full Rate 73,250 /lot 58,600 /lot
Spread Rate 7,500 /spread 6,000 /spread
Mini-Hang Seng Index Full Rate 14,650 /lot 11,720 /lot
Spread Rate 1,500 /spread 1,200 /spread
H-shares Index Full Rate 41,100 /lot 32,900 /lot
Spread Rate 12,350 /spread 9,900 /spread
Mini H-shares Index Full Rate 8,220 /lot 6,580 /lot
Spread Rate 2,470 /spread 1,980 /spread
HSCEI Dividend Point Index Full Rate 1,610 /lot 1,290 /lot
Spread Rate 1,940 /spread 1,550 /spread
HSI Dividend Point Index Full Rate 3,690 /lot 2,950 /lot
Spread Rate 4,430 /spread 3,540 /spread
Three-Year EFN Full Rate 10,740 /lot 8,600 /lot
Spread Rate 3,230 /spread 2,580 /spread
One-Month HIBOR Full Rate 669 /lot 535 /lot
Spread Rate Please refer to attached table
Three-Month HIBOR Full Rate 840 /lot 672 /lot
Spread Rate Please refer to attached table
Aluminum Corporation of China Ltd Full Rate 1,020 /lot 812 /lot
Spread Rate 306 /spread 244 /spread
Bank of China Limited
(BCL: Multiplier = 1,000)
Full Rate 259 /lot 207 /lot
Spread Rate 78 /spread 63 /spread
Bank of China Limited
(BCB: Multiplier = 1,043)
Full Rate 270 /lot 216 /lot
Spread Rate 81 /spread 66 /spread
Bank of Communications Co Ltd Full Rate 514 /lot 411 /lot
Spread Rate 155 /spread 124 /spread
The Bank of East Asia Ltd Full Rate 410 /lot 328 /lot
Spread Rate 123 /spread 99 /spread
BOC Hong Kong (Holdings) Ltd Full Rate 748 /lot 598 /lot
Spread Rate 225 /spread 180 /spread
China Construction Bank Corporation
(CCB: Multiplier = 1,000)
Full Rate 437 /lot 350 /lot
Spread Rate 132 /spread 105 /spread
China Construction Bank Corporation
(CCA: Multiplier = 1,031)
Full Rate 450 /lot 361 /lot
Spread Rate 136 /spread 108 /spread
China Communications Construction Co Ltd Full Rate 632 /lot 506 /lot
Spread Rate 190 /spread 152 /spread
China Mobile Ltd Full Rate 2,240 /lot 1,790 /lot
Spread Rate 672 /spread 537 /spread
China Unicom (Hong Kong) Ltd Full Rate 2,870 /lot 2,290 /lot
Spread Rate 861 /spread 687 /spread
CITIC Pacific Ltd Full Rate 2,020 /lot 1,620 /lot
Spread Rate 606 /spread 486 /spread
Cheung Kong (Holdings) Ltd Full Rate 9,060 /lot 7,250 /lot
Spread Rate 2,720 /spread 2,180 /spread
China Life Insurance Company Ltd Full Rate 1,880 /lot 1,510 /lot
Spread Rate 564 /spread 453 /spread
CLP Holdings Ltd Full Rate 2,000 /lot 1,600 /lot
Spread Rate 600 /spread 480 /spread
China Merchants Bank Co Ltd Full Rate 650 /lot 520 /lot
Spread Rate 195 /spread 156 /spread
CNOOC Ltd Full Rate 1,530 /lot 1,230 /lot
Spread Rate 459 /spread 369 /spread
Cathay Pacific Airways Ltd Full Rate 1,480 /lot 1,180 /lot
Spread Rate 444 /spread 354 /spread
China Petroleum & Chemical Corporation Full Rate 1,180 /lot 943 /lot
Spread Rate 354 /spread 283 /spread
China Telecom Corporation Ltd Full Rate 815 /lot 652 /lot
Spread Rate 245 /spread 196 /spread
Esprit Holdings Ltd Full Rate 276 /lot 221 /lot
Spread Rate 83 /spread 67 /spread
Foxconn International Holdings Ltd Full Rate 461 /lot 369 /lot
Spread Rate 139 /spread 111 /spread
Power Assets Holdings Ltd Full Rate 1,630 /lot 1,300 /lot
Spread Rate 489 /spread 390 /spread
Hong Kong Exchanges and Clearing Ltd Full Rate 1,160 /lot 927 /lot
Spread Rate 348 /spread 279 /spread
HSBC Holdings Plc Full Rate 2,040 /lot 1,640 /lot
Spread Rate 612 /spread 492 /spread
Hong Kong and China Gas Co Ltd Full Rate 1,200 /lot 953 /lot
Spread Rate 360 /spread 286 /spread
Henderson Land Development Co Ltd Full Rate 4,290 /lot 3,430 /lot
Spread Rate 1,290 /spread 1,030 /spread
Huaneng Power International Inc Full Rate 543 /lot 434 /lot
Spread Rate 163 /spread 131 /spread
Hang Seng Bank Ltd Full Rate 758 /lot 606 /lot
Spread Rate 228 /spread 182 /spread
Hutchison Whampoa Ltd Full Rate 6,450 /lot 5,160 /lot
Spread Rate 1,940 /spread 1,550 /spread
Industrial and Commercial Bank of China Ltd
(
ICB: Multiplier = 1,000)
Full Rate 420 /lot 336 /lot
Spread Rate 126 /spread 101 /spread
Industrial and Commercial Bank of China Ltd
(
ICA: Multiplier = 1,019)
Full Rate 428 /lot 342 /lot
Spread Rate 128 /spread 103 /spread
Li & Fung Ltd Full Rate 9,540 /lot 7,630 /lot
Spread Rate 2,870 /spread 2,290 /spread
MTR Corporation Ltd Full Rate 894 /lot 715 /lot
Spread Rate 269 /spread 215 /spread
New World Development Co Ltd Full Rate 855 /lot 684 /lot
Spread Rate 257 /spread 206 /spread
Ping An Insurance (Group) Co of China Ltd Full Rate 3,380 /lot 2,700 /lot
Spread Rate 1,020 /spread 810 /spread
PetroChina Company Ltd Full Rate 1,850 /lot 1,480 /lot
Spread Rate 555 /spread 444 /spread
PICC Property and Casualty Co Ltd Full Rate 2,050 /lot 1,640 /lot
Spread Rate 615 /spread 492 /spread
Sun Hung Kai Properties Ltd Full Rate 7,600 /lot 6,080 /lot
Spread Rate 2,280 /spread 1,830 /spread
Swire Pacific Ltd “A” Full Rate 3,680 /lot 2,950 /lot
Spread Rate 1,110 /spread 885 /spread
Wharf (Holdings) Ltd
(WHL: Multiplier = 1,000)
Full Rate 4,360 /lot 3,490 /lot
Spread Rate 1,310 /spread 1,050 /spread
Wharf (Holdings) Ltd
(WHA: Multiplier = 1,031)
Full Rate 4,496 /lot 3,599 /lot
Spread Rate 1,351 /spread 1,083 /spread


Futures Contract

Margin Rate Initial Margin
(US$)
Maintenance Margin
(US$)
Gold Futures Full Rate 5,610 /lot 4,490 /lot
Spread Rate 1,690 /spread 1,350 /spread

HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.

 

Spread Margin Rates
for Three-Month HIBOR Futures


Spread Combination

Initial Margin
(HK$)
Maintenance Margin
(HK$)
1st month vs 6th month
1st month vs 7th month
1st month vs 8th month
1st month vs 9th month
1st month vs 10th month
2nd month vs 6th month
2nd month vs 7th month
2nd month vs 8th month
2nd month vs 9th month
2nd month vs 10th month
1,680
per spread
1,340
per spread
3rd month vs 6th month
3rd month vs 7th month
3rd month vs 8th month
3rd month vs 9th month
3rd month vs 10th month
4th month vs 6th month
4th month vs 7th month
4th month vs 8th month
4th month vs 9th month
4th month vs 10th month
5th month vs 6th month
5th month vs 7th month
5th month vs 8th month
5th month vs 9th month
5th month vs 10th month
1,680
per spread
1,340
per spread
6th month vs 7th month
6th month vs 8th month
6th month vs 9th month
6th month vs 10th month
7th month vs 8th month
7th month vs 9th month
7th month vs 10th month
8th month vs 9th month
8th month vs 10th month
9th month vs 10th month
1,640
per spread
1,310
per spread
1st month vs 3rd month
1st month vs 4th month
1st month vs 5th month
2nd month vs 3rd month
2nd month vs 4th month
2nd month vs 5th month
1,580
per spread
1,260
per spread
3rd month vs 4th month
3rd month vs 5th month
4th month vs 5th month
1,400
per spread
1,120
per spread
1st month vs 2nd month 607
per spread
485
per spread
 

Spread Margin Rates
for One-Month HIBOR Futures

Spread Combination Initial Margin
(HK$)
Maintenance Margin
(HK$)
1st month vs 2nd month
1st month vs 3rd month
635
per spread
508
per spread
1st month vs 4th month
1st month vs 5th month
1st month vs 6th month
614
per spread
491
per spread
2nd month vs 4th month
2nd month vs 5th month
2nd month vs 6th month
3rd month vs 4th month
3rd month vs 5th month
3rd month vs 6th month
457
per spread
366
per spread
2nd month vs 3rd month 401
per spread
321
per spread
4th month vs 5th month
4th month vs 6th month
5th month vs 6th month
201
per spread
161
per spread


Ends

Updated 28 Apr 2011