HKFE Announces Revised Margins for Three-Year Exchange Fund Note Futures
Market Operations
18 Mar 2002
Hong Kong Futures Exchange (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announced today (Monday) that with effect from the commencement of trading on Tuesday, 19 March 2002, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract 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:
| Futures Contract |
Margin Rate |
Initial
(HK$) |
Maintenance
(HK$) |
| Three-Year Exchange Fund Note |
Full Rate
Spread Rate |
14,000 (12,000) per lot |
11,200 (9,600) per lot |
| 2,100 (1,800) /lot/side |
1,680 (1,440) /lot/side |
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.