Hong Kong Exchanges and Clearing Limited (HKEx) has announced the following details of the holiday risk management arrangements.

HSI, MHI, HHI, MCH, DHH and CUS Futures Markets

The margin levels of H-shares Index (HHI) and Mini H-shares Index (MCH) futures contracts will be temporarily increased after 4:15 pm on Tuesday, 23 December 2014 as outlined in the table below:

The spread margin rates will remain unchanged during this period. The margin levels of HHI, and MCH futures contracts will be restored to the current levels after 12:00 noon on Wednesday, 24 December 2014.

The margin levels of Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), HSCEI Dividend Point Index (DHH) and RMB Currency (CUS) futures contracts will remain unchanged.

There will be mandatory intra-day variation adjustment calls in the HSI, MHI, HHI, MCH, DHH and CUS futures markets on 24 December 2014 at around 12:00 noon.

As there will be no after-hours futures trading session on 24 December 2014, no mandatory intra-day variation adjustment and margin call will be made by the Clearing House on the business day after the holiday, ie Monday, 29 December 2014.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 23 December 2014 (see Appendix). The margin intervals will be restored to normal after 12:00 noon on 24 December 2014.

There will be special intra-day margin calls on 24 December 2014 in respect of all open positions in the stock options market at around 12:00 noon.

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

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