HKFE Revises CITIC Pacific Futures Margins
Market Operations
25 Apr 2003
Hong Kong Futures Exchange Limited
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Revises CITIC Pacific Futures Margins
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), is adjusting the margin rates for CITIC Pacific Limited (CITIC Pacific) Futures as a result of the company's announcement regarding the payment of an aggregate dividend of $1.70 per share with the ex-dividend date on 28 April 2003. The minimum margins to be collected by an Exchange Participants from its clients in respect of their dealings in CITIC Pacific Futures contracts will be adjusted with effect from the commencement of trading on Monday, 28 April 2003, as outlined in the table below. The margin adjustments are based on the clearing company's normal procedures and standard margining methodology.
| Futures Contract |
Margin Rate |
Initial Margin
(HK$) |
Maintenance Margin
(HK$) |
| CITIC Pacific Limited |
Full Rate
Spread Rate |
990 per lot
149/lot/side |
792 per lot
119.2/lot/side |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
For the current margins, please refer to the HKEx website (http://www.hkex.com.hk) and see Trading Information - Futures & Options in the Derivatives Market section.