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HKFE to Revise Margins for HSI Futures Contract, Red-chip Futures Contract and selected Stock Futures Contracts

Market Operations
06 Jan 2000

The Hong Kong Futures Exchange (HKFE) announces that with effect from Thursday, 6 January 2000, the minimum margins to be collected by a member from its clients in respect of their dealings in the following futures contracts are as follows:

* Amounts in brackets are the original margin rates:

Futures Contract

Margin Rates

Initial Margin
HK$

Maintenance Margin
HK$

Hang Seng Index Futures Full Rates
Spread Rates

$70,000 ($63,000) per lot
$3,750 ($3,750)/ lot / side
$56,000 ($50,400) per lot
$3,000 ($3,000) / lot / side
Red-Chip Index Futures Full Rates
Spread Rates

$8,500 ($7,500) per lot
$1,250 ($1,250)/ lot / side
$6,800 ($6,000) per lot
$1,000 ($1,000)/ lot / side
Cheung Kong (Holdings) Ltd Full Rates
Spread Rates

$50,000 ($45,000)per lot
$6,250 ($6,250)/ lot / side
$40,000 ($36,000)per lot
$5,000 ($5,000) / lot / side
China Telecom (Hong Kong) Ltd Full Rates
Spread Rates

$90,000 ($60,000)per lot
$13,500 ($9,000)/ lot / side
$72,000 ($48,000) per lot
$10,800 ($7,200) / lot / side
CITIC Pacific Ltd Full Rates
Spread Rates

$28,000 ($16,000)per lot
$4,250 ($3,125)/ lot / side
$22,400 ($12,800)per lot
$3,400 ($2,500) / lot / side
Hutchison Whampoa
Limited Futures
Full Rates
Spread Rates

$55,000 ($47,500)per lot
$8,250 ($7,500)/ lot / side
$44,000 ($38,000)per lot
$6,600 ($6,000) / lot / side

The Exchange emphasises that the above are minimum rates and member firms should set their margin requirements according to their clients' individual circumstances.

The Hong Kong Futures Exchange is a leading futures and options marketplace in the Asia Pacific Region, with a membership of over 130 companies, including a number of major international institutions. The Exchange is actively diversifying its product base, which now includes currency, interest rate and equity-based products.

For further enquiries, please contact HKFE Corporate Communications: Miss Chiu Yeung on 2842 9322 and Ms June Wong on 2842 9448.

Updated 06 Jan 2000