HKFE Announces Revised Margins for Three-Month HIBOR and Sun Hung Kai Properties Futures Contacts
Market Operations
21 Sep 2007
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Announces Revised Margins for Three-Month HIBOR and Sun Hung Kai Properties Futures Contacts
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 Monday, 24 September 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).
Three-Month HIBOR |
Full Rate |
3,943 |
/lot |
3,155 |
/lot |
Spread Rate |
Please refer to attached table |
|
|
|
|
|
|
Sun Hung Kai Properties Limited |
Full Rate |
14,701 |
/lot |
11,761 |
/lot |
Spread Rate |
4,410 |
/spread |
3,528 |
/spread |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
Spread Margin Rates
for Three-Month HIBOR Futures
1st month vs 9th month 1st month vs 10th month 2nd month vs 9th month 2nd month vs 10th month 3rd month vs 9th month 3rd month vs 10th month 4th month vs 9th month 4th month vs 10th month
|
4,413 per spread
|
3,531 per spread
|
1st month vs 5th month 1st month vs 6th month 1st month vs 7th month 1st month vs 8th month 2nd month vs 5th month 2nd month vs 6th month 2nd month vs 7th month 2nd month vs 8th month 3rd month vs 5th month 3rd month vs 6th month 3rd month vs 7th month 3rd month vs 8th month 4th month vs 5th month 4th month vs 6th month 4th month vs 7th month 4th month vs 8th month
|
4,099 per spread
|
3,279 per spread
|
5th month vs 9th month 5th month vs 10th month 6th month vs 9th month 6th month vs 10th month 7th month vs 9th month 7th month vs 10th month 8th month vs 9th month 8th month vs 10th month
|
3,680 per spread
|
2,944 per spread
|
9th month vs 10th month
|
3,081 per spread
|
2,465 per spread
|
5th month vs 6th month 5th month vs 7th month 5th month vs 8th month 6th month vs 7th month 6th month vs 8th month 7th month vs 8th month
|
2,865 per spread
|
2,292 per spread
|
1st month vs 2nd month 1st month vs 3rd month 1st month vs 4th month 2nd month vs 3rd month 2nd month vs 4th month 3rd month vs 4th month
|
2,760 per spread
|
2,208 per spread
|