HKFE Announces Revised Margins for Futures Contracts
Market Operations
20 Aug 2007
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Announces Revised Margins for Futures Contracts
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Tuesday, 21 August 2007, 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.
For the current margins, please refer to the margin information on the HKEx website at the following link (http://www.hkex.com.hk/eng/market/rm/rm_dcrm/riskdata/margin_hkcc/fomargin.htm).
| Futures Contract |
Margin Rate |
Initial Margin
(HK$) |
Maintenance Margin
(HK$) |
| Hang Seng Index |
Full Rate |
87,230 |
/lot |
69,785 |
/lot |
| Spread Rate |
7,500 |
/spread |
6,000 |
/spread |
| |
|
|
|
|
|
| Mini-Hang Seng Index |
Full Rate |
17,446 |
/lot |
13,957 |
/lot |
| Spread Rate |
1,500 |
/spread |
1,200 |
/spread |
| |
|
|
|
|
|
| H-shares Index |
Full Rate |
70,420 |
/lot |
56,336 |
/lot |
| Spread Rate |
21,126 |
/spread |
16,901 |
/spread |
| |
|
|
|
|
|
| China Life Insurance Company Limited |
Full Rate |
3,665 |
/lot |
2,932 |
/lot |
| Spread Rate |
1,100 |
/spread |
880 |
/spread |
| |
|
|
|
|
|
Esprit Holdings Limited
(ESP: Multiplier = 100) |
Full Rate |
1,262 |
/lot |
1,010 |
/lot |
| Spread Rate |
379 |
/spread |
303 |
/spread |
| |
|
|
|
|
|
Esprit Holdings Limited
(ESA: Multiplier = 500) |
Full Rate |
6,310 |
/lot |
5,050 |
/lot |
| Spread Rate |
1,895 |
/spread |
1,515 |
/spread |
| |
|
|
|
|
|
| Hong Kong Exchanges and Clearing Limited |
Full Rate |
8,347 |
/lot |
6,677 |
/lot |
| Spread Rate |
2,504 |
/spread |
2,003 |
/spread |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.