Hong Kong Exchanges and Clearing Limited (HKEx) has announced the following details of the holiday risk management arrangements.

HSI, MHI, HHI, MCH, DHS, DHH and CUS Futures Markets

There will be mandatory intra-day variation adjustment calls in the Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI), Mini H-shares Index (MCH), HSI Dividend Point Index (DHS), HSCEI Dividend Point Index (DHH) and RMB Currency (CUS) futures markets on Tuesday, 24 December 2013 based on open positions in the markets at around 12:00 noon on 24 December.

The margin levels of HHI and MCH futures contracts will be temporarily increased after the close of business of the regular trading session on 23 December 2013 (Monday) as outlined in the table below:

The margin levels of HSI, MHI, DHS, DHH and CUS futures contracts will remain unchanged.

The spread margin rates will remain unchanged during this period. The margin levels of HHI and MCH futures contracts will be restored to the current levels after the close of business on 24 December 2013.

As there will be no after-hours futures trading session on 24 December 2013, no Mandatory Intra-day Variation Adjustment and Margin Call will be made by the Clearing House on the business day after the holiday, ie Friday, 27 December 2013.

Stock Options Market

There will be special intra-day margin calls on Tuesday, 24 December 2013 in respect of all open positions in the stock options market at around 12:00 noon on 24 December.

The margin intervals for all options classes will be increased temporarily after the close of business on 23 December 2013 (see Appendix). The margin intervals will be restored to normal after the close of business on 24 December 2013.

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

Ends