HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

19 Dec 2012

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 11 December 2012.

HSI, MHI, HHI, MCH, DHS and DHH 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 21 December 2012 (Friday) as outlined in the table below:

Futures Contract	Full Margin Rate	Initial Margin (HK$)		Maintenance Margin (HK$)
HSI	Current Level	68,850	per lot	55,100	per lot
HSI	Temporarily Increased Level	70,250	per lot	56,200	per lot

MHI	Current Level	13,770	per lot	11,020	per lot
MHI	Temporarily Increased Level	14,050	per lot	11,240	per lot

HHI	Current Level	32,800	per lot	26,250	per lot
HHI	Temporarily Increased Level	35,350	per lot	28,250	per lot

MCH	Current Level	6,560	per lot	5,250	per lot
MCH	Temporarily Increased Level	7,070	per lot	5,650	per lot

The margin levels of HSI Dividend Point Index (DHS) and HSCEI Dividend Point Index (DHH) futures contracts will remain unchanged.

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 24 December 2012.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 21 December 2012 (see Appendix). The margin intervals will be restored to normal after the close of business on 24 December 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 18 Dec (%)	Temporary Client Margin Intervals (%)
iShares FTSE A50 China Index ETF	8	10
Agricultural Bank of China Limited	7	8
Anhui Conch Cement Company Limited	9	11
AIA Group Limited	6	7
Aluminum Corporation of China Limited	8	9
Bank of China Limited	6	6
Bank of Communications Co., Ltd.	7	8
The Bank of East Asia, Limited	5	5
Belle International Holdings Limited	8	10
BOC Hong Kong (Holdings) Limited	5	5
BYD Company Limited	13	15
China Construction Bank Corporation	7	7
China Communications Construction Company Limited	8	10
China Coal Energy Company Limited	8	10
China COSCO Holdings Company Limited	11	12
China Mobile Limited	5	6
China Unicom (Hong Kong) Limited	8	10
CITIC Pacific Limited	8	10
Cheung Kong (Holdings) Limited	6	7
China Life Insurance Company Limited	6	8
CLP Holdings Limited	5	5
China Merchants Bank Co., Ltd.	7	8
CNOOC Limited	5	6
China Overseas Land & Investment Limited	7	9
Cathay Pacific Airways Limited	6	7
China Petroleum & Chemical Corporation	6	8
China Pacific Insurance (Group) Co., Ltd.	8	9
China Railway Construction Corporation Limited	11	14
China Railway Group Limited	10	12
W.I.S.E. - CSI 300 China Tracker	7	10
China Shenhua Energy Company Limited	7	9
China CITIC Bank Corporation Limited	6	8
China Telecom Corporation Limited	8	9
Esprit Holdings Limited	15	18
Foxconn International Holdings Limited	18	22
Galaxy Entertainment Group Limited	9	12
Power Assets Holdings Limited	5	5
Hong Kong Exchanges and Clearing Limited	7	8
HSBC Holdings Plc.	5	5
The Hong Kong and China Gas Company Limited	5	6
Henderson Land Development Company Limited	7	8
Huaneng Power International, Inc.	8	10
Hang Seng Bank Limited	5	5
Hutchison Whampoa Limited	5	6
Industrial and Commercial Bank of China Ltd.	6	7
Jiangxi Copper Company Limited	7	8
Li & Fung Limited	8	11
MTR Corporation Limited	5	5
China National Building Material Company Limited	10	12
New World Development Company Limited	7	9
Ping An Insurance (Group) Company of China, Limited	6	9
PetroChina Company Limited	6	6
PICC Property and Casualty Company Limited	6	8
Guangzhou R&F Properties Co., Ltd.	11	14
Sands China Limited	9	11
Sun Hung Kai Properties Limited	5	6
Standard Chartered PLC	5	5
Swire Pacific Limited 'A'	5	5
Tencent Holdings Limited	7	9
Tracker Fund of Hong Kong	5	5
The Wharf (Holdings) Limited	7	8
Yanzhou Coal Mining Company Limited	8	10
Zijin Mining Group Company Limited	7	8

Ends

Updated 19 Dec 2012