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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
Temporarily Increased Level 70,250 per lot 56,200 per lot
MHI Current Level 13,770 per lot 11,020 per lot
Temporarily Increased Level 14,050 per lot 11,240 per lot
HHI Current Level 32,800 per lot 26,250 per lot
Temporarily Increased Level 35,350 per lot 28,250 per lot
MCH Current Level 6,560 per lot 5,250 per lot
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

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