HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

06 Apr 2009

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 30 March 2009.

HSI, MHI, HHI and MCH Futures Markets

The margin levels of Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI) and Mini H-shares Index (MCH) futures contracts will be temporarily increased after the close of business on 8 April 2009 (Wednesday) as outlined in the table below.

Futures Contract	Full Margin Rate^#	Initial Margin (HK$)	Maintenance Margin (HK$)
HSI	Current Level (effective 7 April 2009)* Temporarily Increased Level	90,450 per lot 105,400 per lot	72,400 per lot 84,350 per lot

MHI	Current Level (effective 7 April 2009)* Temporarily Increased Level	18,090 per lot 21,080 per lot	14,480 per lot 16,870 per lot

HHI	Current Level (effective 6 April 2009) Temporarily Increased Level**	56,700 per lot 73,800 per lot	45,400 per lot 59,050 per lot

MCH	Current Level (effective 6 April 2009) Temporarily Increased Level**	11,340 per lot 14,760 per lot	9,080 per lot 11,810 per lot

^#	The spread margin rates will remain unchanged during this period. The margin levels of HSI, MHI, HHI and MCH futures contracts will be restored to the current levels after the close of business on 9 April 2009.

*	Refers to HKEx *news release* on 6 April.

**	Refers to HKEx *news release* on 2 April.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 8 April 2009 (see Appendix). The margin intervals will be restored to normal after the close of business on 9 April 2009.

The above arrangements are based on the clearing houses’ normal procedures. Exchange Participants have been advised to give advanced notice to their clients regarding the arrangements where appropriate.

Appendix

Stock Options Classes	Temporary Client Margin Intervals (%)
Aluminum Corporation of China Limited	34
Bank of China Limited	17
Bank of Communications Co., Ltd.	22
The Bank of East Asia, Limited	25
BOC Hong Kong (Holdings) Limited	21
China Construction Bank Corporation	20
China Communications Construction Company Limited	20
China Coal Energy Company Limited	28
China Mobile Limited	15
China Unicom (Hong Kong) Limited	23
CITIC Pacific Limited	27
Cheung Kong (Holdings) Limited	20
Cheung Kong Infrastructure Holdings Limited	11
China Life Insurance Company Limited	18
CLP Holdings Limited	8
China Merchants Bank Co., Ltd.	22
CNOOC Limited	22
Cathay Pacific Airways Limited	19
China Petroleum & Chemical Corporation	22
China Railway Construction Corporation Limited	16
China Railway Group Limited	19
China Shenhua Energy Company Limited	22
China CITIC Bank Corporation Limited	18
China Telecom Corporation Limited	17
Denway Motors Limited	29
Esprit Holdings Limited	27
Foxconn International Holdings Limited	37
Hongkong Electric Holdings Limited	9
Hong Kong Exchanges and Clearing Limited	23
HSBC Holdings Plc.	35
The Hong Kong and China Gas Company Limited	12
Henderson Land Development Company Limited	19
Huaneng Power International, Inc.	18
Hang Seng Bank Limited	20
Hutchison Whampoa Limited	19
Industrial and Commercial Bank of China Limited	22
Johnson Electric Holdings Limited	36
Jiangxi Copper Company Limited	31
Li & Fung Limited	22
MTR Corporation Limited	11
New World Development Company Limited	24
Ping An Insurance (Group) Company of China, Ltd.	25
PCCW Limited	11
PetroChina Company Limited	20
PICC Property and Casualty Company Limited	29
Sun Hung Kai Properties Limited	20
Swire Pacific Limited 'A'	19
Tracker Fund of Hong Kong	15
The Wharf (Holdings) Limited	22

Updated 06 Apr 2009