Three-Year Exchange Fund Note (EFN) Futures

Item	Contract Terms
Underlying Contract	Three-year notional Exchange Fund Notes with a coupon of 6%
HKATS Code	EF3
Contract Size	HK$1,000,000
Contract Months	Quarter months on the March, June, September & December cycle such that there are always four months listed at any one time
Contracted Value	Contracted Price multiplied by Contract Size divided by 100 [e.g. (101.00 x HK$1,000,000)/100]
Minimum Fluctuation	0.01 percent of the Contract Size, which is equivalent to HK$100
Price Quotation	As a percentage of the Contract Size, quoted to 2 decimal places. The value of each whole percentage point is HK$10,000
Trading Hours	8:30 a.m. - 12:00 noon & 1:30 p.m. - 5:00 p.m. (Expiring contract month closes at 11:00am on the Last Trading Day)
Settlement Method	Physical delivery of Deliverable Exchange Fund Notes
Deliverable Exchange Fund Notes	Exchange Fund Notes with maturity of not shorter than 2 years and 6 months and not longer than 3 years and 6 months
Last Trading Day	two Business Days before the third Wednesday of the Contract Month
Final Settlement Day	The third (3rd) Wednesday of the Contract Month. (If the third Wednesday of such contract month is not a business day, then the final settlement day of the contract shall be the next business day following the third Wednesday of the contract month)
Final Settlement Price	The volume-weighted average traded price of all trades in the Contract Month executed during the 5 minute-interval on the Last Trading Day in which the last trade in the Contract Month was executed (If no trade in the Contract Month is executed on the Last Trading Day, the Final Settlement Price shall be the previous Business Day's Closing Quotation)
Transaction Costs	Exchange Fee               HK$ 6.00 Commission Levy          HK$0.80 Commission Rate          Negotiable

Please visit HKEx website http://www.hkex.com.hk/regulatory.htm  for full contract specifications under Trading Rules of the Rules, Regulations and Procedures of the Futures Exchange