HKFE Announces Revised Margins for Esprit Holdings Futures
Market Operations
25 Nov 2008
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, 26 November 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 minimum margins are being revised due to a special dividend-related adjustment to Esprit Holdings Limited Futures Contracts which exist after the market close on 25 November 2008 (the arrangements for the special dividend-related adjustment of Esprit Holdings Limited Futures Contracts were announced in an HKEx news release issued on 15 October 2008, which is posted on the HKEx website). The revisions 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$) |
Maintenance Margin
(HK$) |
|
|
|
|
|
|
Esprit Holdings Ltd
(ESP: Multiplier =100) |
Full Rate |
1,201 |
/lot |
961 |
/lot |
Spread Rate |
361 |
/spread |
288 |
/spread |
|
|
|
|
|
|
Esprit Holdings Ltd
(ESA: Multiplier =106) |
Full Rate |
1,269 |
/lot |
1,015 |
/lot |
Spread Rate |
381 |
/spread |
305 |
/spread |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.