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CNH Gold Futures

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Updated 27 Apr 2020


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Contract Specification

Contract

CNH Gold Futures

Underlying 1 kilogram gold of not less than 0.9999 fineness, bearing a serial number and identifying stamp of a Recognised Refiner
HKATS Code GDR
Contract Size 1 kilogram
Trading Currency RMB
Contract Months Spot Month and the next eleven calendar months
Minimum Fluctuation RMB 0.05 per gram
Trading Hours1
(Hong Kong Time)
8:30 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 3:00 a.m. the next morning (after-hours trading session)
Trading Hours2on
Last Trading Day
(Hong Kong Time)
8:30 a.m. to 4:30 p.m.
Last Trading Day
(LTD)
The Third Monday of the Contract Month
Postponed to the next business day if it is a Hong Kong public holiday
Final Settlement Day The second Hong Kong Business Day after the Last Trading Day
Settlement Method Physical settlement
Settlement Currency RMB
Final Settlement Price Volume weighted average price of all trades3in the expiring Contract Month during the last thirty minutes of trading on the Last Trading Day
Delivery Site An Approved Depository
Minimum Delivery Size 1 kilogram
Holiday Schedule Follow HKFE holiday schedule
Trading Fee4
(per contract per side)
RMB 6.00
Settlement Fee4
(per contract per side)
RMB 12.00
Levies5
(per contract per side)
RMB 0.50
Investor Compensation Levy6
The collection of Investor Compensation Levy is currently suspended and no person is required to pay since 2005.
Commission Rate Negotiable
 
Notes :

1. There is no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year. The trading hours on those three days shall be 8:30 a.m. – 12:30 p.m.. There is no after-hours trading session if it is a bank holiday in the United Kingdom, the United States and the People’s Republic of China.

2. There shall be no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year. The trading hours on those three days shall be 8:30 a.m. – 12:30 p.m..

3. All trades other than Block Trades in the expiring Contract Month that result from the matching on HKATS of (i) two orders in the individual market series; or (ii) a standard combination order and an order in the individual market series, and executed during the last thirty minutes of trading on the Last Trading Day.  If there is no valid traded price during the last thirty minutes of trading on the Last Trading Day, the determination of Final Settlement Price can be found here.

4. The amount indicated above is subject to change by the Exchange from time to time.

5. The RMB equivalent of HKD 0.54 per contract at the exchange rate determined by the Exchange from time to time.

6. Investor Compensation Levy
-  If the SFC is to publish a termination of exemption notice, the effective date of the reinstatement of the ICL, if any, shall not be earlier than 2 months after the date of such publication.
-  EPs are reminded to take all necessary actions to prepare for the ICL calculation and payment of ICL via HKEX in case the ICL is reinstated by the SFC, including enhancing their HKATS Application Programming Interface, back office systems, relevant applications and operational facilities.

 


Updated 11 Mar 2020

Margin Table

Derivatives Market Access Codes

Information Vendors

Access Code

AASTOCKS.com Limited 221480
Bloomberg Finance L.P. XDPA Comdty
CQG, Inc. GDR
DB Power Online Limited GDR
East Money Information Co., Ltd. GDR
ET Net Limited GDR
Hexin Flush Financial Information Network Ltd. GDR+year+month
Infocast Ltd GDR
Menu->
Derivatives->
Futures->
Select "GDR"
Interactive Data Real-Time Services, Inc. Fn:GDR\MYYDD
Morningstar Real-Time Data Ltd. GDR
Reuters Ltd, a Thomson Reuters Company 0#HGDR:
Shanghai DZH Limited GDR+year+month
Shanghai Pobo Network Data Information Co., Ltd GDR+month+year
Shanghai Qianlong Advanced Technology Co Ltd. GDR
Telequote DataInternational Ltd. GDRmy
Tele-Trend Ltd. GDRFC, GDRmyy
Webstock Information Systems Co., Ltd GDR
Wind Information Co., Ltd. GDRF.HK
Zhengzhou Esunny Information Technology Co., Ltd GDR

Updated 26 Jun 2018

Market Maker Obligations and Incentives

Obligations of LP

LP will be required to meet at least the following obligations:

Obligations

 

Gold Futures

(either CNH Gold Futures or USD Gold Futures)

LP Type

2

(Option A)

2

(Option C)

3

(Option A)

4

3 (Option C)

2 (Option B)

3 (Option B)

Continuous Quotes (CQ) or Quote Requests (QR)

CQ

Contract Months

Any 2 of the following contracts: M+1, M+2, the next Jun or the next Dec contracts

Any 2 of the following contracts: M, M+1, M+2, the next Jun or the next Dec contracts

Spot Month (M) and any 1 of the next Jun or the next Dec contracts

Any 2 of the following contract series:

  • M / M+1 calendar month
  • M / M+2 calendar month
  • M / Jun calendar month
  • M / Dec calendar month
  • M+1/ Jun calendar month
  • M+1/ Dec calendar month
  • M+2/ Jun calendar month
  • M+2/ Dec calendar month
  • Jun/ Dec calendar month

Max. Bid / Offer Spread

Farthest month: 2 ticks

Other months:

2 ticks

Farthest month: 2 ticks

Other months:

1 ticks

Farthest month: 2 ticks

Other months: 2 ticks

Farthest month: 2 ticks

Other months: 2 ticks

Spot: 6 ticks

Farthest month: 5 ticks

Other months:

3 ticks(T)

4 ticks(T+1)

Spot: 6 ticks

Farthest month: 6 ticks

Other months:

5 ticks

Spot: 6 ticks

Farthest month: 6 ticks

Other months: 3 ticks

1 tick of calendar spread between the given contract series

Quote Size (contracts)

12

6

6

3

6

6

1

12

6

% of Trading Hours

80% (T) or

70% (T+1)

50%

(T or T+1)

60%

(T or T+1)

40%

(T or T+1)

60%

(T or T+1)

40%

(T or T+1)

70% (T or T+1) and

94% of LTD

70%

(T or T+1)

50%

(T or T+1)

For more details of the market maker obligations and incentives, please refer to the HKEX website at https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/HKFE/2020/MKD_CMD_004_20_e.pdf 


Updated 27 Aug 2020