HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

30 Mar 2012

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 23 March 2012.

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 3 April 2012 (Tuesday) as outlined in the table below:

Futures Contract	Full Margin Rate	Initial Margin (HK$)		Maintenance Margin (HK$)
HSI	Level effective from 2 April 2012*	65,250	per lot	52,200	per lot
HSI	Temporarily Increased Level	66,250	per lot	53,000	per lot

MHI	Level effective from 2 April 2012*	13,050	per lot	10,440	per lot
MHI	Temporarily Increased Level	13,250	per lot	10,600	per lot

HHI	Level effective from 2 April 2012*	36,650	per lot	29,350	per lot
HHI	Temporarily Increased Level	42,100	per lot	33,700	per lot

MCH	Level effective from 2 April 2012*	7,330	per lot	5,870	per lot
MCH	Temporarily Increased Level	8,420	per lot	6,740	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 levels effective from 2 April 2012 after the close of business on 5 April 2012.

* For the margin levels effective from 2 April 2012, please refer to the HKEx news release issued on 29 March 2012.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 3 April 2012 (see Appendix). The margin intervals will be restored to normal after the close of business on 5 April 2012.

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

Appendix

Stock Options Classes	Client Margin Intervals as of 29 Mar (%)	Temporary Client Margin Intervals (%)
iShares FTSE A50 China Index ETF	6	7
Agricultural Bank of China Limited	8	10
Anhui Conch Cement Company Limited	12	14
AIA Group Limited	8	10
Aluminum Corporation of China Limited	11	13
Bank of China Limited	7	8
Bank of Communications Co., Ltd.	9	10
The Bank of East Asia, Limited	6	7
Belle International Holdings Limited	12	16
BOC Hong Kong (Holdings) Limited	5	6
BYD Company Limited	14	17
China Construction Bank Corporation	6	8
China Communications Construction Company Limited	11	14
China Coal Energy Company Limited	8	10
China COSCO Holdings Company Limited	14	18
China Mobile Limited	7	9
China Unicom (Hong Kong) Limited	8	11
CITIC Pacific Limited	6	8
Cheung Kong (Holdings) Limited	8	10
China Life Insurance Company Limited	10	12
CLP Holdings Limited	5	5
China Merchants Bank Co., Ltd.	8	11
CNOOC Limited	7	9
China Overseas Land & Investment Limited	10	13
Cathay Pacific Airways Limited	8	9
China Petroleum & Chemical Corporation	8	9
China Pacific Insurance (Group) Co., Ltd.	9	12
China Railway Construction Corporation Limited	13	16
China Railway Group Limited	12	14
W.I.S.E. - CSI 300 China Tracker	7	8
China Shenhua Energy Company Limited	6	8
China CITIC Bank Corporation Limited	7	8
China Telecom Corporation Limited	8	10
Esprit Holdings Limited	18	23
Foxconn International Holdings Limited	11	13
Power Assets Holdings Ltd.	5	6
Hong Kong Exchanges and Clearing Limited	7	8
HSBC Holdings Plc.	6	7
The Hong Kong and China Gas Company Limited	5	5
Henderson Land Development Company Limited	8	10
Huaneng Power International, Inc.	12	12
Hang Seng Bank Limited	6	7
Hutchison Whampoa Limited	7	8
Industrial and Commercial Bank of China Limited	7	9
Jiangxi Copper Company Limited	10	13
Li & Fung Limited	10	13
MTR Corporation Limited	5	5
China National Building Material Company Limited	13	16
New World Development Company Limited	10	14
Ping An Insurance (Group) Company of China, Ltd.	10	12
PetroChina Company Limited	6	8
PICC Property and Casualty Company Limited	10	12
Guangzhou R&F Properties Co., Ltd.	13	16
Sun Hung Kai Properties Limited	8	10
Swire Pacific Limited 'A'	7	8
Tencent Holdings Limited	8	10
Tracker Fund of Hong Kong	5	6
The Wharf (Holdings) Limited	8	11
Yanzhou Coal Mining Company Limited	9	11
Zijin Mining Group Company Limited	11	13

Ends

Updated 30 Mar 2012