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Derivatives Market
Margin Table

Updated: 2 July 2009

Commodity Futures         
    Client Margin Clearing House Margin
    Initial Maintenance  
Product (US$) (US$) (US$)
Gold Futures Full Rate 4,990 3,990 3,740
(/lot)
Spread Rate 1,500 1,200 1,130
(/spread)
Equity Index Futures         
    Client Margin Clearing House Margin
    Initial Maintenance  
Product (HK$) (HK$) (HK$)
Hang Seng Index Futures Full Rate 84,450 67,550 63,950
(/lot)
Spread Rate 7,500 6,000 6,000
(/spread)
Mini-Hang Seng Index Futures Full Rate 16,890 13,510 12,790
(/lot)
Spread Rate 1,500 1,200 1,200
(/spread)
H-share Index Futures Full Rate 54,750 43,800 41,500
(/lot)
Spread Rate 16,450 13,150 12,450
(/spread)
Mini-H-share Index Futures Full Rate 10,950 8,760 8,300
(/lot)
Spread Rate 3,290 2,630 2,490
(/spread)
Interest Rate Futures        
    Client Margin Clearing House Margin
    Initial Maintenance  
Product (HK$) (HK$) (HK$)
Three-Month HIBOR Futures Full Rate 1,830 1,460 1,400
(/lot)
Spread Rate Please refer to the attached table  
(/spread)
One-Month HIBOR Futures Full Rate 1,610 1,290 1,220
(/lot)
Spread Rate Please refer to the attached table  
(/spread)
Three-year Exchange Fund Note (EFN) Futures Full Rate 10,420 8,340 8,340
(/lot)
Spread Rate 3,130 2,510 2,510
(/spread)
Stock Futures        
    Client Margin Clearing House Margin
    Initial Maintenance  
Product (HK$) (HK$) (HK$)
Aluminium Corporation of China Ltd. Futures Full Rate 2,760 2,210 2,080
(/lot)
Spread Rate 828 663 624
(/spread)
Bank of China Ltd Futures Full Rate 424 340 324
(/lot)
Spread Rate 128 102 98
(/spread)
Bank of Communications Co Ltd Futures Full Rate 789 632 599
(/lot)
Spread Rate 237 190 180
(/spread)
The Bank of East Asia Limited Futures (BEA-Multiplier = 200) Full Rate 732 585 553
(/lot)
Spread Rate 220 176 166
(/spread)
The Bank of East Asia Limited Futures (BEB-Multiplier = 220) Full Rate 805 644 608
(/lot)
Spread Rate 242 194 183
(/spread)
BOC Hong Kong (Holdings) Ltd. Futures Full Rate 907 725 689
(/lot)
Spread Rate 273 218 207
(/spread)
China Construction Bank Corporation Futures Full Rate 633 506 484
(/lot)
Spread Rate 190 152 146
(/spread)
China Communications Construction Co.Limited Futures Full Rate 1,280 1,030 967
(/lot)
Spread Rate 384 309 291
(/spread)
China Mobile Limited Futures Full Rate 3,910 3,130 2,930
(/lot)
Spread Rate 1,180 939 879
(/spread)
China Unicom (Hong Kong)Limited Futures Full Rate 3,480 2,790 2,630
(/lot)
Spread Rate 1,050 837 789
(/spread)
CITIC Pacific Limited Futures Full Rate 2,220 1,780 1,660
(/lot)
Spread Rate 666 534 498
(/spread)
Cheung Kong (Holdings) Limited Futures Full Rate 9,880 7,910 7,420
(/lot)
Spread Rate 2,970 2,380 2,230
(/spread)
Cheung Kong Infrastructure Holdings Limited Futures Full Rate 1,760 1,410 1,410
(/lot)
Spread Rate 528 423 423
(/spread)
China Life Insurance Co. Ltd. Futures Full Rate 2,940 2,350 2,210
(/lot)
Spread Rate 882 705 663
(/spread)
CLP Holdings Limited Futures Full Rate 1,610 1,290 1,290
(/lot)
Spread Rate 483 387 387
(/spread)
China Merchants Bank Futures(CMB-Multiplier = 500) Full Rate 1,130 902 859
(/lot)
Spread Rate 339 271 258
(/spread)
China Merchants Bank Futures(CMA-Multiplier = 650) Full Rate 1,469 1,173 1,117
(/lot)
Spread Rate 441 352 335
(/spread)
CNOOC Limited Futures Full Rate 1,510 1,210 1,140
(/lot)
Spread Rate 453 363 342
(/spread)
Cathay Pacific Airways Limited Futures Full Rate 1,410 1,130 1,060
(/lot)
Spread Rate 423 339 318
(/spread)
China Petroleum & Chemical Corporation Futures Full Rate 1,390 1,120 1,050
(/lot)
Spread Rate 417 336 315
(/spread)
China Telecom Corporation Ltd. Futures Full Rate 851 681 644
(/lot)
Spread Rate 256 205 194
(/spread)
Denway Motors Limited Futures Full Rate 1,190 949 892
(/lot)
Spread Rate 357 285 268
(/spread)   
Esprit Holdings Limited Futures Full Rate 642 513 482
(/lot)
Spread Rate 193 154 145
(/spread)  
Foxconn International Holdings Limited Futures Full Rate 1,240 986 928
(/lot)
Spread Rate 372 296 279
(/spread)
Hongkong Electric Holdings Limited Futures Full Rate 1,370 1,100 1,100
(/lot)
Spread Rate 411 330 330
(/spread)
Hong Kong Exchanges and Clearing Limited Futures  Full Rate 1,630 1,300 1,230
(/lot)
Spread Rate 489 390 369
(/spread)
HSBC Holdings plc Futures (HKB-Multiplier = 400) Full Rate 3,500 2,800 2,650
(/lot)
Spread Rate 1,050 840 795
(/spread)
HSBC Holdings plc Futures (HKC-Multiplier = 432) Full Rate 3,780 3,024 2,862
(/lot)
Spread Rate 1,134 907 859
(/spread)
Hong Kong and China Gas Company Limited Futures  Full Rate 1,210 962 912
(/lot)
Spread Rate 363 289 274
(/spread)
Henderson Land Development Company Limited Futures Full Rate 5,310 4,250 4,000
(/lot)
Spread Rate 1,600 1,280 1,200
(/spread)
Huaneng Power International, Inc. Futures Full Rate 1,180 941 890
(/lot)
Spread Rate 354 283 267
(/spread)
Hang Seng Bank Limited Futures Full Rate 1,270 1,020 960
(/lot)
Spread Rate 381 306 288
(/spread)
Hutchison Whampoa Limited Futures Full Rate 5,960 4,770 4,480
(/lot)
Spread Rate 1,790 1,440 1,350
(/spread)
Industrial and Commercial Bank of China Ltd Futures Full Rate 542 434 413
(/lot)
Spread Rate 163 131 124
(/spread)
Johnson Electric Holdings Limited Futures Full Rate 186 149 140
(/lot)
Spread Rate 56 45 42
(/spread)
Li & Fung Limited Futures Full Rate 7,840 6,270 5,930
(/lot)
Spread Rate 2,360 1,890 1,780
(/spread)
MTR Corporation Limited Futures Full Rate 1,090 869 822
(/lot)
Spread Rate 327 261 247
(/spread)
New World Development Co. Ltd. Futures Full Rate 2,170 1,740 1,640
(/lot)
Spread Rate 651 522 492
(/spread)
Ping An Insurance (Group) Co of China Ltd Futures Full Rate 3,860 3,090 2,910
(/lot)
Spread Rate 1,160 927 873
(/spread)
PetroChina Company Limited Futures Full Rate 2,000 1,600 1,510
(/lot)
Spread Rate 600 480 453
(/spread)
PICC Property and Casualty Co. Limited Futures Full Rate 1,720 1,380 1,280
(/lot)
Spread Rate 516 414 384
(/spread)
Sun Hung Kai Properties Limited Futures Full Rate 10,580 8,460 7,960
(/lot)
Spread Rate 3,180 2,540 2,390
(/spread)
Swire Pacific Limited "A" Shares Futures Full Rate 3,890 3,110 2,940
(/lot)
Spread Rate 1,170 933 882
(/spread)
The Wharf (Holdings) Ltd. Futures Full Rate 4,380 3,500 3,300
(/lot)
Spread Rate 1,320 1,050 990
(/spread)
N/A denotes Not Applicable.