HKFE Announces Revised Margins for CNOOC Limited Futures Contracts after Capital Adjustment
Market Operations
15 Mar 2004
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Announces Revised Margins for CNOOC Limited Futures Contracts after Capital Adjustment
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announced that with effect from the commencement of trading on Wednesday, 17 March 2004, 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.
Please see the 9 March 2004 HKEx news release, for details of the capital adjustment of CNOOC Limited, or CNOOC, Futures.
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.
|
Futures Contract |
Margin Rate |
Initial Margin
(HK$) |
Maintenance Margin
(HK$) |
|
CNOOC Ltd. (CNC with contract multiplier 1,000) |
Full Rate
Spread Rate |
316 |
per lot |
252.8 |
per lot |
|
|
48 |
/lot/side |
38.4 |
/lot/side |
|
|
CNOOC Ltd. (Temporary contract CNA with contract multiplier 2,500) |
Full Rate
Spread Rate |
790 |
per lot |
632 |
per lot |
|
|
120 |
/lot/side |
96 |
/lot/side |
|
HKFE emphasised that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.