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HKFE to Revise Margins for HSI Futures Contract, Hang Seng 100 Futures Contract and selected Stock Futures Contracts

Market Operations
17 Apr 2000

The Hong Kong Futures Exchange (HKFE) announces that with effect from Wednesday, 19 April 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 $95,000 ($90,000) per lot $76,000 ($72,000) per lot
Spread Rates

$3,750 ($3,750) / lot / side $3,000 ($3,000) / lot / side
Hang Seng 100 Futures Full Rates $16,200 ($14,500) per lot $12,960 ($11,600) per lot
Spread Rates

$1,500 ($1,500) / lot / side $1,200 ($1,200) / lot / side
China Telecom (Hong Kong) Ltd Futures Full Rates $136,000 ($120,000) per lot $108,800 ($96,000) per lot
Spread Rates

$20,400 ($18,000) / lot / side $16,320 ($14,400) / lot / side
CITIC Pacific Ltd Futures Full Rates $37,000 ($35,000) per lot $29,600 ($28,000) per lot
Spread Rates

$5,550 ($5,250) / lot / side $4,440 ($4,200) / lot / side
Swire Pacific Ltd "A" Futures Full Rates
$16,000 ($14,000) per lot $12,800 ($11,200) per lot
Spread Rates

$2,500 ($2,000) / lot / side $2,000 ($1,600) / 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 Teresa Chan on 2842 9386 or Mr Scott Sapp 2842 9421.

Updated 17 Apr 2000