HKEx Announces Details of Temporary Holiday Risk Management Arrangements

Market Operations

25 Sep 2012

Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 17 September 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 27 September 2012 (Thursday) as outlined in the table below:

Futures Contract	Full Margin Rate	Initial Margin (HK$)		Maintenance Margin (HK$)
HSI	Current Level	63,200	per lot	50,550	per lot
HSI	Temporarily Increased Level	65,300	per lot	52,200	per lot

MHI	Current Level	12,640	per lot	10,110	per lot
MHI	Temporarily Increased Level	13,060	per lot	10,440	per lot

HHI	Current Level	30,750	per lot	24,600	per lot
HHI	Temporarily Increased Level	35,600	per lot	28,500	per lot

MCH	Current Level	6,150	per lot	4,920	per lot
MCH	Temporarily Increased Level	7,120	per lot	5,700	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 28 September 2012.

Stock Options Market

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

Ends

Updated 25 Sep 2012