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CNH Gold Futures

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Updated 23 Jul 2018


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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, 6
(per contract per side)
RMB 6.00
Settlement Fee4
(per contract per side)
RMB 12.00
Levies5
(per contract per side)
RMB 0.50
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 HKD0.54 per contract at the exchange rate determined by the Exchange from time to time.

6. Waived until 31 December 2018 (excluding after-hours session).

Updated 17 Jun 2019

Margin Table

Trading Hours

Contract

USD & CNHGold Futures

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 Hours on
Last Trading Day2
(Hong Kong Time)
8:30 a.m. to 4:30 p.m.

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.

Updated 17 Jun 2019

Trading Fees and Commissions

Contract

CNH Gold Futures

ExchangeFee1
(per contract per side)
Trading Fee: RMB6.00
Levies2
(per contract per side)
RMB 0.50
Commission Rate Negotiable
1. The amount indicated above is subject to be changed by the Exchange from time to time.
2. The RMB equivalent of HKD0.54per contract at the exchange rate determined by the Exchange from time to time.


Updated 26 Jun 2018

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

List of Market Makers and Liquidity Providers

USD and CNH Gold Futures Contracts

  Providing Continuous Quotes
Liquidity Providers
CFT1 GLS1 MPF1 TFF2 WFF1 YNT1 
USD Gold Futures   * * * *
CNH Gold Futures * * * * *  *

  Providing Continuous Quotes
(After-Hours Trading)
Liquidity Providers
CFT1 GLS1 MPF1
USD Gold Futures *  * *
CNH Gold Futures * * *

*refers to a Futures Exchange Participant acting as a Liquidity Provider for Gold Futures

1. The Exchange Participants provide physical delivery services for the gold futures by clearing through Delivery Participants.

2. Liquidity Providers trading through Exchange Participants, which are clearing through Non-delivery Participants, will not provide liquidity after the end of T Session on LTD-1.


Updated 22 Aug 2018

Market Maker Obligations and Incentives

Obligations of LP

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

Commodities Futures

Type of LP

Minimum LP Quoting Obligations

Type Contract Months Quote Size Maximum Bid/Offer Spread Minimum % of Trading Hours Coverage

Physically settled USD Gold Futures and/ or Physically settled CNH Gold Futures

Type 1

Continuous quotes (CQ)

Any 2 of the Spot, next 2 calendar months, the next Jun and the next Dec contracts

12 contracts

Spot: 3 ticks
Farthest month: 3 ticks
Other months: 2 ticks

70% *

Type 3

 6 contracts

50% *

Type 5

  6 contracts

Spot: 4 ticks
Farthest month: 4 ticks
Other months: 3 ticks

30%*

Type 2

 Any 2 of the following contract series:
- Spot/ Next calendar month
- Spot/ Next 2 calendar month
- Spot/ Jun
- Spot/ Dec
- Next/ Jun
- Next/ Dec
- Next 2/ Jun
- Next 2/ Dec
- Jun/ Dec
 
 12 contracts
 1 tick of calendar spread between the given contract series

70% *

 Type 4  6 contracts  50% *

*either T or T+1 session

For more details of the market maker obligations and incentives, please refer to the HKEX website at  

Updated 22 Feb 2019

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