HKFE Announces Revised Margins for Two Futures Contracts
Market Operations
19 Sep 2001
Hong Kong Futures Exchange (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announced today (Wednesday) that with effect from the commencement of trading on Friday, 21 September the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company's normal procedures and standard margining methodology.
* Amounts in brackets are the original margin rates:
| One-Month HIBOR |
Full Rate
|
850 (650) per lot |
680 (520) per lot |
Spread Rate
|
Please refer to the attached table
|
| Hutchison Whampoa Ltd |
Full Rate |
9,600 (8,600) per lot |
7,680 (6,880) per lot |
| Spread Rate |
1,440 (1,290) /lot/side
|
1,152 (1,032) /lot/side |
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
Spread Margin Rates
for One-Month HIBOR Futures
1st month vs 4th month
1st month vs 5th month
1st month vs 6th month
|
HK$625 per spread |
HK$500 per spread |
1st month vs 2nd month
1st month vs 3rd month
2nd month vs 4th month
2nd month vs 5th month
2nd month vs 6th month
3rd month vs 4th month
3rd month vs 5th month
3rd month vs 6th month
|
HK$500 per spread |
HK$400 per spread |
4th month vs 5th month
4th month vs 6th month
5th month vs 6th month
|
HK$375 per spread |
HK$300 per spread |
2nd month vs 3rd month
|
HK$225 per spread
|
HK$180 per spread |