HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

16 Jan 2012

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 9 January 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 19 January 2012 (Thursday) as outlined in the table below:

Futures Contract	Full Margin Rate	Initial Margin (HK$)		Maintenance Margin (HK$)
HSI	Current Level	79,050	per lot	63,250	per lot
HSI	Temporarily Increased Level	93,100	per lot	74,500	per lot

MHI	Current Level	15,810	per lot	12,650	per lot
MHI	Temporarily Increased Level	18,620	per lot	14,900	per lot

HHI	Current Level	52,750	per lot	42,200	per lot
HHI	Temporarily Increased Level	69,300	per lot	55,400	per lot

MCH	Current Level	10,550	per lot	8,440	per lot
MCH	Temporarily Increased Level	13,860	per lot	11,080	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 current levels after the close of business on 20 January 2012.

Stock Options Market

The margin intervals for all options classes will be increased temporarily after the close of business on 19 January 2012 (see Appendix). The margin intervals will be restored to normal after the close of business on 20 January 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 16 Jan (%)	Temporary Client Margin Intervals (%)
iShares FTSE A50 China Index ETF	8	13
Agricultural Bank of China Limited	12	20
Anhui Conch Cement Company Limited	17	25
AIA Group Limited	8	11
Aluminum Corporation of China Limited	13	21
Bank of China Limited	11	17
Bank of Communications Co., Ltd.	12	17
The Bank of East Asia, Limited	10	15
Belle International Holdings Limited	14	19
BOC Hong Kong (Holdings) Limited	8	13
BYD Company Limited	18	27
China Construction Bank Corporation	8	12
China Communications Construction Company Limited	10	17
China Coal Energy Company Limited	13	21
China COSCO Holdings Company Limited	16	24
China Mobile Limited	6	7
China Unicom (Hong Kong) Limited	9	14
CITIC Pacific Limited	10	15
Cheung Kong (Holdings) Limited	8	12
China Life Insurance Company Limited	12	18
CLP Holdings Limited	5	6
China Merchants Bank Co., Ltd.	14	21
CNOOC Limited	11	19
China Overseas Land & Investment Limited	16	25
Cathay Pacific Airways Limited	8	11
China Petroleum & Chemical Corporation	8	11
China Pacific Insurance (Group) Co., Ltd.	12	19
China Railway Construction Corporation Limited	17	25
China Railway Group Limited	18	27
W.I.S.E. - CSI 300 China Tracker	8	13
China Shenhua Energy Company Limited	10	14
China CITIC Bank Corporation Limited	11	16
China Telecom Corporation Limited	8	10
Esprit Holdings Limited	17	29
Foxconn International Holdings Limited	11	16
Power Assets Holdings Ltd.	5	6
Hong Kong Exchanges and Clearing Limited	9	14
HSBC Holdings Plc.	9	12
The Hong Kong and China Gas Company Limited	5	5
Henderson Land Development Company Limited	9	13
Huaneng Power International, Inc.	11	14
Hang Seng Bank Limited	6	8
Hutchison Whampoa Limited	8	12
Industrial and Commercial Bank of China Limited	11	18
Jiangxi Copper Company Limited	15	23
Li & Fung Limited	13	19
MTR Corporation Limited	5	7
China National Building Material Company Limited	18	28
New World Development Company Limited	11	18
Ping An Insurance (Group) Company of China, Ltd.	14	22
PetroChina Company Limited	9	14
PICC Property and Casualty Company Limited	14	20
Guangzhou R&F Properties Co., Ltd.	14	23
Sun Hung Kai Properties Limited	8	11
Swire Pacific Limited 'A'	9	12
Tencent Holdings Limited	10	16
Tracker Fund of Hong Kong	7	10
The Wharf (Holdings) Limited	11	17
Yanzhou Coal Mining Company Limited	15	23
Zijin Mining Group Company Limited	15	25

Ends

Updated 16 Jan 2012