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HKFE to Revise Margins for HSI Futures, HS 100 Futures, Red-Chip Futures and Selected Stock Futures Contracts

Market Operations
08 Aug 2000

The Hong Kong Futures Exchange (HKFE) announces that with effect from Wednesday, 9 August 2000, the minimum margins to be collected by an Exchange Participant 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 Contracts

Margin Rates

Initial Margin

Maintenance Margin

Hang Seng Index Futures

Full Rates
Spread Rates

$70,000 ($80,000) per lot
$3,750 ($3,750) /lot/side

$56,000 ($64,000) per lot
$3,000 ($3,000) /lot/side

Hang Seng 100 Futures

Full Rates
Spread Rates

$12,000 ($13,500) per lot
$1,500 ($1,500) /lot/side

$9,600 ($10,800) per lot
$1,200 ($1,200) /lot/side

Red-Chip Index Futures

Full Rates
Spread Rates

$8,500 ($10,000) per lot
$1,250 ($1,250) /lot/side

$6,800 ($8,000) per lot
$1,000 ($1,000) /lot/side

Cheung Kong (Holdings) Ltd Futures

Full Rates
Spread Rates

$55,000 ($65,000) per lot
$8,500 ($10,000) /lot/side

$44,000 ($52,000) per lot
$6,800 ($8,000) /lot/side

CITIC Pacific Ltd Futures

Full Rates
Spread Rates

$22,500 ($32,500) per lot
$3,500 ($5,050) /lot/side

$18,000 ($26,000) per lot
$2,800 ($4,000) /lot/side

Shanghai Industrial Holdings Ltd Futures

Full Rates
Spread Rates

$10,500 ($9,000) per lot
$1,600 ($1,500) /lot/side

$8,400 ($7,200) per lot
$1,280 ($1,200) /lot/side

Henderson Land Dev Co Ltd Futures

Full Rates
Spread Rates

$21,000 ($24,000) per lot
$3,500 ($3,750) /lot/side

$16,800 ($19,200) per lot
$2,800 ($3,000) /lot/side

Hutchison Whampoa Ltd Futures

Full Rates
Spread Rates

$65,000 ($75,000) per lot
$10,000 ($11,500) /lot/side

$52,000 ($60,000) per lot
$8,000 ($9,200) /lot/side

Sun Hung Kai Properties Ltd Futures

Full Rates
Spread Rates

$40,000 ($45,000) per lot
$6,000 ($6,750) /lot/side

$32,000 ($36,000) per lot
$4,800 ($5,400) /lot/side

The Wharf (Holdings) Ltd Futures

Full Rates
Spread Rates

$11,000 ($10,000) per lot
$1,750 ($1,500) /lot/side

$8,800 ($8,000) per lot
$1,400 ($1,200) /lot/side

Hopewell Holdings Ltd Futures

Full Rates
Spread Rates

$700 ($900) per lot
$110 ($160) /lot/side

$560 ($720) per lot
$88 ($128) /lot/side

China Mobile (Hong Kong) Ltd Futures

Full Rates
Spread Rates

$25,000 ($136,000) per lot
$3,750 ($20,400) /lot/side

$20,000 ($108,800) per lot
$3,000 ($16,320) /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: Scott Sapp on 2842 9421.

Updated 08 Aug 2000