Margin Rates Set for 11 New Stock Futures Contracts
Market Operations
23 Aug 2001
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has set margin rates for the 11 new stock futures contracts to be introduced on Monday, 27 August.
The table below shows the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the contracts:
| Futures Contract |
Margin Rate
|
Initial Margin
(HK$)
|
Maintenance Margin
(HK$)
|
| Hong Kong and China Gas Ltd |
Full Rates
Spread Rates
|
600 per lot
90/lot/side
|
480 per lot
72/lot/side
|
| MTR Corp Ltd |
Full Rates
Spread Rates
|
450 per lot
67.5/lot/side
|
360 per lot
54/lot/side
|
| China Merchants Holdings (International) Co Ltd |
Full Rates
Spread Rates
|
980 per lot
150/lot/side
|
784 per lot
120/lot/side
|
| Johnson Electric Ltd |
Full Rates
Spread Rates
|
925 per lot
140/lot/side
|
740 per lot
112/lot/side
|
| Cathay Pacific Airways Ltd |
Full Rates
Spread Rates
|
830 per lot
125/lot/side
|
664 per lot
100/lot/side
|
|
Hong Kong Exchanges and Clearing Ltd
|
Full Rates
Spread Rates
|
2,630 per lot
400/lot/side
|
2,104 per lot
320/lot/side
|
| Li & Fung Ltd |
Full Rates
Spread Rates
|
2,840 per lot
435/lot/side
|
2,272 per lot
348/lot/side
|
| China Unicom Ltd |
Full Rates
Spread Rates
|
3,360 per lot
500/lot/side
|
2,688 per lot
400/lot/side
|
| PetroChina Co Ltd |
Full Rates
Spread Rates
|
280 per lot
45/lot/side
|
224 per lot
36/lot/side
|
Cheung Kong Infrastructure
Holdings Ltd |
Full Rates
Spread Rates
|
840 per lot
125/lot/side
|
672 per lot
100/lot/side
|
| COSCO Pacific Ltd |
Full Rates
Spread Rates
|
1,260 per lot
190/lot/side
|
1,008 per lot
152/lot/side
|
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.