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HKFE to Revise Margins for Hang Seng 100 Futures Contract, Hang Seng Properties Sub-Index Futures Contract and Selected Stock Futures Contracts

Market Operations
07 Jan 2000

The Hong Kong Futures Exchange (HKFE) announces that with effect from Friday, 7 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 100 Futures Full Rates
Spread Rates

$13,000 ($11,000) per lot
$1,500 ($1,500)/ lot / side
$10,400 ($8,800) per lot
$1,200 ($1,200) / lot / side
Hang Seng Properties
Sub-Index Futures
Full Rates
Spread Rates

$100,000 ($82,500)per lot
$3,750 ($3,750)/ lot / side
$80,000 ($66,000) per lot
$3,000 ($3,000) / lot / side
Cable & Wireless HKT Ltd
Stock Futures
Full Rates
Spread Rates

$30,000 ($26,000)per lot
$5,000 (3,500)/ lot / side
$24,000 ($20,800)per lot
$4,000 ($2,800)/ lot / side
Swire Pacific Limited "A" Shares
Stock Futures
Full Rates
Spread Rates

$12,500 ($11,000)per lot
$2,000 ($2,000)/ lot / side
$10,000 ($8,800) per lot
$1,600 ($1,600)/ lot / side
China Resources Enterprise Ltd
Stock Futures
Full Rates
Spread Rates

$22,000 ($19,000)per lot
$7,500 ($7,500)/ lot / side
$17,600 ($15,200)per lot
$6,000 ($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 07 Jan 2000