HKFE Announces Margins for Twenty International Stock Futures Contracts
Market Operations
26 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 Thursday, 4 October, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following International Stock Futures contracts will be as outlined in the table below.
US Stock Futures Contracts
| Futures Contract |
Margin Rate |
Initial Margin
(US$) |
Maintenance Margin
(US$) |
| Cisco Systems Incorporated |
Full Rate
Spread Rate
|
310 per lot
46.50/lot/side |
248 per lot
37.20/lot/side |
| IBM Corporation |
Full Rate
Spread Rate
|
770 per lot
152.50/lot/side |
616 per lot
122/lot/side |
| Intel Corporation |
Full Rate
Spread Rate
|
360 per lot
54/lot/side |
288 per lot
43.20/lot/side |
| Microsoft Corporation |
Full Rate
Spread Rate
|
670 per lot
100.50/lot/side |
536 per lot
80.40/lot/side |
| Oracle Corporation |
Full Rate
Spread Rate
|
300 per lot
45/lot/side |
240 per lot
36/lot/side |
Japan Stock Futures Contracts
| Futures Contract |
Margin Rate |
Initial Margin
(JPY)
|
Maintenance Margin
(JPY)
|
| NTT DoCoMo Incorporated |
Full Rate
Spread Rate
|
255,000 per lot
38,250/lot/side |
204,000 per lot
30,600/lot/side |
| Sony Corporation |
Full Rate
Spread Rate
|
90,000 per lot
13,500/lot/side |
72,000 per lot
10,800/lot/side |
Nippon Telegraph & Telephone
Corporation |
Full Rate
Spread Rate
|
63,700 per lot
12,500/lot/side |
50,960 per lot
10,000/lot/side |
| Fujitsu Limited |
Full Rate
Spread Rate
|
135,000 per lot
20,250/lot/side |
108,000 per lot
16,200/lot/side |
| Toyota Motor Corporation |
Full Rate
Spread Rate
|
23,000 per lot
5,750/lot/side |
18,400 per lot
4,600/lot/side |
Korea Stock Futures Contracts
| Futures Contract |
Margin Rate |
Initial Margin
(KRW) |
Maintenance Margin
(KRW) |
| Korea Electric Power Corporation |
Full Rate
Spread Rate
|
20,000 per lot
3,550/lot/side |
16,000 per lot
2,840/lot/side |
| Korea Telecom Corporation |
Full Rate
Spread Rate
|
40,000 per lot
7,600/lot/side |
32,000 per lot
6,080/lot/side |
| Samsung Electronics Company Limited |
Full Rate
Spread Rate
|
196,000 per lot
30,000/lot/side |
156,800 per lot
24,000/lot/side |
| SK Telecom Company Limited |
Full Rate
Spread Rate
|
201,000 per lot
32,500/lot/side |
168,000 per lot
26,000/lot/side |
| Kookmin Bank |
Full Rate
Spread Rate
|
22,500 per lot
3,375/lot/side |
18,000 per lot
2,700/lot/side |
Taiwan Stock Futures Contracts
|
Futures Contract
|
Margin Rate
|
Initial Margin
(NT$)
|
Maintenance Margin
(NT$)
|
| Mosel Vitelic Incorporated |
Full Rate
Spread Rate
|
1,800 per lot
270/lot/side |
1,440 per lot
216/lot/side |
| Ritek Corporation |
Full Rate
Spread Rate
|
6,000 per lot
900/lot/side |
4,800 per lot
720/lot/side |
Taiwan Semiconductor
Manufacturing Company Limited |
Full Rate
Spread Rate
|
7,400 per lot
1,110/lot/side |
5,920 per lot
888/lot/side |
| United Microelectronics Corporation |
Full Rate
Spread Rate
|
4,000 per lot
625/lot/side |
3,200 per lot
500/lot/side |
| Winbond Electronics Corporation |
Full Rate
Spread Rate
|
3,500 per lot
525/lot/side |
2,800 per lot
420/lot/side |
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.