Please refer to Appendix V of the Rules and Procedures of HKCC and Appendix I of the Operational Clearing Procedures for Options Trading Exchange Participants of SEOCH for details of how interest, costs and charges are calculated. The interest, costs and charges will be calculated daily and posted or deducted from the relevant CCMS Collateral Account on the first business day of the following month. Clearing Participants can refer to daily CCMS Report “Collateral Parameters Information List” (CCMIR02) for the rebated interest rates and monthly CCMS report “Monthly Interest & Accommodation Fee Report – Detail” (CCMIA02) for any interest, costs and charges posted or deducted.
HKD Interest Rate
HKD 1-month HIBOR interest rate: 1.98%
HKD interest rate payable to Clearing Participant: (0.5 x 1.98%) - 0.25% = 0.74%
Approved currency, other than HKD, which is not a Negative Interest Rate Currency
Deposit saving rates of three notes-issuing banks are 0.25%, 0.26% and 0.27% respectively.
Interest rate payable to Clearing Participant: (0.25% + 0.26% + 0.27%) / 3 = 0.26%
Note: In determining the prevailing bank savings rate, reference will be made to the Capital Preservation Fund rate as from time to time published by the Mandatory Provident Fund Schemes Authority, which is equivalent to the simple average deposit saving rates for deposit amount HKD 120,000 of three notes-issuing banks in Hong Kong. Similar basis is applied to other approved currencies.
Approved currency, other than HKD, which is a Negative Interest Rate Currency
Cost incurred by the Clearing House for Negative Interest Rate Currency: 0.35%
Cost charged to Clearing Participant for Negative Interest Rate Currency: 0.35% + 0.25% = 0.60%