HKFE Announces Temporary Holiday Adjustments to Margins for Four Futures Contracts
Market Operations
30 Mar 2007
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Announces Temporary
Holiday
Adjustments to Margins for
Four Futures Contracts
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that 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 temporarily increased from the close of business on 3 April 2007 through 9 April 2007 in connection with the Ching Ming and Easter holidays as outlined in the table below. The adjustments are based on the clearing company's normal procedures and standard margining methodology.
|
Futures Contract
|
Full Margin Rate*
|
Initial Margin
(
HK$
)
|
Maintenance Margin
(HK$)
|
| Hang Seng Index (HSI) |
Current Level
Temporarily Increased Level
|
64,975 per lot
104,700 per lot |
51,980 per lot
83,760 per lot |
| Mini HSI (MHI) |
Current Level
Temporarily Increased Level
|
12,995 per lot
20,940 per lot |
10,396 per lot
16,752 per lot |
| H-shares Index (HHI) |
Current Level
Temporarily Increased Level
|
43,915 per lot
70,200 per lot |
35,132 per lot
56,160 per lot |
| Three-month HIBOR (HB3) |
Current Level
Temporarily Increased Level
|
3,336 per lot
5,175 per lot |
2,669 per lot
4,140 per lot |
* The spread margin rates will remain unchanged from the close of business on 3 April 2007 through 9 April 2007.
The margin levels of HSI, MHI, HHI and HB3 futures contracts will be restored to the current levels with effect from the commencement of trading on 10 April 2007.