Trading in Futures on Pacific Century CyberWorks to Begin on 24 July
Products
19 Jul 2000
The Hong Kong Futures Exchange (HKFE) announced today that trading of a new stock futures contract on Pacific Century CyberWorks Limited (PCCW) will begin on Monday, 24 July 2000.
The new contract will raise the total number of HKFE stock futures contracts to 18.
The multiplier for the PCCW Futures contract will be 5,000 and the initial contract months available for trading will be August 2000, September 2000, December 2000 and March 2001.
The commission rate for PCCW Futures will be negotiable and the minimum margins to be collected by an Exchange Participant from its clients in respect to their dealings in the new futures contract will be as follows:
|
Initial Margin
|
Maintenance Margin
|
Full Rates
Spread Rates |
$12,000 per lot
$1,800/lot/side |
$9,600 per lot
$1,440/lot/side |
The Exchange emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
For further enquiries, please contact HKFE Corporate Communications: Ms. Chiu Yeung 2842 9322 or Mr. Scott Sapp on 2842 9421.