HKFE Announces Margin Rates for Adjusted Cathay Pacific Futures
Market Operations
19 Oct 2006
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
HKFE Announces Margin Rates for Adjusted Cathay Pacific Futures
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Thursday, 19 October 2006, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The margins are based on the clearing company's normal procedures and standard margining methodology.
For details of the adjustment to the contract terms of all open Cathay Pacific Airways Futures contracts in existence after the market close on 18 October 2006, please refer to the news release on the HKEx website at the following link: http://www.hkex.com.hk/eng/newsconsul/hkexnews/2006/061010news.htm.
| Futures Contract |
Margin Rate |
Initial Margin
(HK$) |
Maintenance Margin
(HK$) |
Cathay Pacific Airways Limited CPA
(with multiplier 1000) |
Full Rate |
980 |
/lot |
784 |
/lot |
| Spread Rate |
294 |
/spread |
235 |
/spread |
| |
|
|
|
Cathay Pacific Airways Limited CPB
(with multiplier 1020) |
Full Rate |
999 |
/lot |
799 |
/lot |
| Spread Rate |
300 |
/spread |
240 |
/spread |
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.