HKFE Announces Revised Margins for Korea and Taiwan Stock Futures Contracts
Market Operations
04 Jan 2002
As stated in the news release dated 14 December 2001, Hong Kong Futures Exchange (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has amended the contract specifications and trading procedures of International Stock Futures and Options, with the changes to become effective on 7 January 2002. Accordingly, please be advised that with effect from the commencement of trading on Monday, 7 January 2002, 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.
Korea Contracts with New Contract Multipliers
|
|
Initial
(KRW) |
Maintenance
(KRW) |
| Korea Electric Power Corporation (KEP) |
Full Rate
Spread Rate
|
261,800 per lot
39,300/lot/side |
209,440 per lot
31,440/lot/side |
| Korea Telecom Corporation (KTC) |
Full Rate
Spread Rate
|
586,100 per lot
87,950/lot/side |
468,880 per lot
70,360/lot/side |
| Samsung Electronics Company Limited (SAM) |
Full Rate
Spread Rate
|
4,480,000 per lot
672,000/lot/side |
3,584,000 per lot
537,600/lot/side |
| SK Telecom Company Limited (SKC) |
Full Rate
Spread Rate
|
4,080,000 per lot
612,000/lot/side |
3,264,000 per lot
489,600/lot/side |
| Kookmin Bank (KKM) |
Full Rate
Spread Rate
|
1,355,600 per lot
203,350/lot/side |
1,084,480 per lot
162,680/lot/side |
Temporary Korea Contracts with Current Contract Multipliers
|
|
Initial
(KRW) |
Maintenance
(KRW) |
| Korea Electric Power Corporation (KEC) |
Full Rate
Spread Rate
|
26,180 per lot
3,930/lot/side |
20,944 per lot
3,144/lot/side |
| Korea Telecom Corporation (KTM) |
Full Rate
Spread Rate
|
58,610 per lot
8,795/lot/side |
46,888 per lot
7,036/lot/side |
| Samsung Electronics Company Limited (SSE) |
Full Rate
Spread Rate
|
448,000 per lot
67,200/lot/side |
358,400 per lot
53,760/lot/side |
| SK Telecom Company Limited (SKT) |
Full Rate
Spread Rate
|
408,000 per lot
61,200/lot/side |
326,400 per lot
48,960/lot/side |
| Kookmin Bank (KMB) |
Full Rate
Spread Rate
|
135,560 per lot
20,335/lot/side |
108,448 per lot
16,268/lot/side |
Taiwan Contracts with New Contract Multipliers
|
|
Initial
(NT$) |
Maintenance
(NT$) |
| Mosel Vitelic Incorporated (MOS) |
Full Rate
Spread Rate
|
23,000 per lot
3,450/lot/side |
18,400 per lot
2,760/lot/side |
| Ritek Corporation (RKC) |
Full Rate
Spread Rate
|
62,000 per lot
9,300/lot/side |
49,600 per lot
7,440/lot/side |
| Taiwan Semiconductor Manufacturing Co Ltd (TSM) |
Full Rate
Spread Rate
|
119,800 per lot
18,800/lot/side |
95,840 per lot
15,040/lot/side |
| United Microelectronics Corporation (UMC) |
Full Rate
Spread Rate
|
78,000 per lot
11,700/lot/side |
62,400 per lot
9,360/lot/side |
| Winbond Electronics Corporation (WIN) |
Full Rate
Spread Rate
|
35,500 per lot
5,350/lot/side |
28,400 per lot
4,280/lot/side |
Temporary Taiwan Contracts with Current Contract Multipliers
|
|
Initial
(NT$) |
Maintenance
(NT$) |
| Mosel Vitelic Incorporated (MSV) |
Full Rate
Spread Rate
|
2,300 per lot
345/lot/side |
1,840 per lot
276/lot/side |
| Ritek Corporation (RTC) |
Full Rate
Spread Rate
|
6,200 per lot
930/lot/side |
4,960 per lot
744/lot/side |
| Taiwan Semiconductor Manufacturing Co Ltd (TSC) |
Full Rate
Spread Rate
|
11,980 per lot
1,880/lot/side |
9,584 per lot
1,504/lot/side |
| United Microelectronics Corporation (UME) |
Full Rate
Spread Rate
|
7,800 per lot
1,170/lot/side |
6,240 per lot
936/lot/side |
| Winbond Electronics Corporation (WBE) |
Full Rate
Spread Rate
|
3,550 per lot
535/lot/side |
2,840 per lot
428/lot/side |
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.