HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

21 Dec 2011

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangementsbelow,following its news release dated 12 December 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 22 December 2011 (Thursday) as outlined in the table below:

Futures Contract	Full Margin Rate	Initial Margin(HK$)		Maintenance Margin(HK$)
HSI	Current Level	93,300	per lot	74,650	per lot
HSI	Temporarily Increased Level	97,300	per lot	77,800	per lot

MHI	Current Level	18,660	per lot	14,930	per lot
MHI	Temporarily Increased Level	19,460	per lot	15,560	per lot

HHI	Current Level	59,650	per lot	47,700	per lot
HHI	Temporarily Increased Level	67,100	per lot	53,700	per lot

MCH	Current Level	11,930	per lot	9,540	per lot
MCH	Temporarily Increased Level	13,420	per lot	10,740	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 23 December 2011.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 22 December 2011 (see Appendix). The margin intervals will be restored to normal after the close of business on 23 December 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 19 Dec (%)	Temporary Client Margin Intervals (%)
iShares FTSE A50 China Index ETF	9	11
Agricultural Bank of China Limited	15	19
Anhui Conch Cement Company Limited	19	23
AIAGroup Limited	9	11
Aluminum Corporation of China Limited	17	20
Bank of China Limited	13	17
Bank of Communications Co., Ltd.	14	17
The Bank of East Asia, Limited	12	14
Belle International Holdings Limited	14	15
BOC Hong Kong (Holdings) Limited	10	12
BYDCompany Limited	22	25
China Construction Bank Corporation	10	12
China Communications Construction Company Limited	13	18
China Coal Energy Company Limited	15	18
China COSCO Holdings Company Limited	20	25
China Mobile Limited	6	6
ChinaUnicom (Hong Kong) Limited	10	11
CITIC Pacific Limited	12	15
Cheung Kong (Holdings) Limited	10	12
China Life Insurance Company Limited	14	18
CLPHoldings Limited	5	5
China Merchants Bank Co., Ltd.	17	23
CNOOC Limited	14	17
ChinaOverseas Land & Investment Limited	19	24
Cathay Pacific Airways Limited	9	10
China Petroleum & Chemical Corporation	8	9
ChinaPacific Insurance (Group) Co., Ltd.	14	19
China Railway Construction Corporation Limited	21	27
China Railway Group Limited	22	29
W.I.S.E. – CSI 300 China Tracker	9	11
China Shenhua Energy Company Limited	11	14
ChinaCITIC Bank Corporation Limited	13	16
China Telecom Corporation Limited	7	8
Esprit Holdings Limited	22	28
Foxconn International Holdings Limited	14	17
Power Assets Holdings Ltd.	5	6
Hong KongExchanges and Clearing Limited	12	15
HSBC Holdings Plc.	10	13
The Hong Kong and China Gas Company Limited	5	5
Henderson Land Development Company Limited	11	12
Huaneng Power International, Inc.	12	15
Hang Seng Bank Limited	8	9
Hutchison Whampoa Limited	10	12
Industrial and Commercial Bank of China Limited	14	18
Jiangxi Copper Company Limited	20	24
Li & Fung Limited	15	20
MTRCorporation Limited	7	7
China National Building Material Company Limited	22	27
New World Development Company Limited	13	16
Ping An Insurance (Group) Company of China, Ltd.	18	23
PetroChina Company Limited	10	12
PICC Property and Casualty Company Limited	15	20
Guangzhou R&F Properties Co., Ltd.	16	21
Sun Hung Kai Properties Limited	9	11
Swire Pacific Limited 'A'	8	9
Tencent Holdings Limited	12	15
Tracker Fund of Hong Kong	9	10
The Wharf (Holdings) Limited	13	16
Yanzhou Coal Mining Company Limited	17	21
Zijin Mining Group Company Limited	18	25

Ends

Updated 21 Dec 2011