HKFE Announces Revised Margins for Futures Contracts
Market Operations
13 Oct 2008
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 Wednesday, 15 October 2008, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract 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 |
145,250 |
/lot |
116,200 |
/lot |
| Spread Rate |
7,500 |
/spread |
6,000 |
/spread
|
| Mini-Hang Seng Index |
Full Rate |
29,050 |
/lot |
23,240 |
/lot |
| Spread Rate |
1,500 |
/spread |
1,200 |
/spread
|
| Cheung Kong (Holdings) Ltd |
Full Rate |
15,317 |
/lot |
12,254 |
/lot |
| Spread Rate |
4,595 |
/spread |
3,676 |
/spread
|
| China Life Insurance Co. Ltd |
Full Rate |
6,289 |
/lot |
5,031 |
/lot |
| Spread Rate |
1,887 |
/spread |
1,509 |
/spread
|
HK Exchanges and Clearing Ltd
(HEX: Multiplier = 100) |
Full Rate |
1,806 |
/lot |
1,445 |
/lot |
| Spread Rate |
542 |
/spread |
434 |
/spread
|
HK Exchanges and Clearing Ltd
(HEA: Multiplier = 500) |
Full Rate |
9,030 |
/lot |
7,225 |
/lot |
| Spread Rate |
2,710 |
/spread |
2,170 |
/spread
|
| HSBC Holdings PLC |
Full Rate |
5,307 |
/lot |
4,246 |
/lot |
| Spread Rate |
1,592 |
/spread |
1,274 |
/spread
|
| Hang Seng Bank |
Full Rate |
2,186 |
/lot |
1,749 |
/lot |
| Spread Rate |
656 |
/spread |
525 |
/spread
|
| Sun Hung Kai Properties Ltd |
Full Rate |
14,257 |
/lot |
11,406 |
/lot |
| Spread Rate |
4,277 |
/spread |
3,422 |
/spread |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.