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USD Gold Futures

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HKEX’s gold futures contracts, which are denominated in USD and off shore RMB (CNH) and physically delivered in Hong Kong, will help to build Hong Kong into a mature, comprehensive capital market that can serve as a risk management centre for both Mainland investors and international participants.


Updated 01 Aug 2019


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Contract Specification

Contract USD Gold Futures
Underlying 1 kilogram gold of not less than0.9999 fineness bearing a serial number and identifying stamp of a Recognised Refiner
HKATS Code GDU
Contract Size 1 kilogram
Trading Currency U.S. dollars
Contract Months Spot Month and the next eleven calendar months
Minimum Fluctuation USD 0.01 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 4:30p.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 U.S. dollars
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) USD 1.00
Settlement Fee4 (per contract per side) USD 2.00
Levies5 (per contract per side) USD 0.07
Investor Compensation Levy6
HKD 0.50 per contract per side
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 USD equivalent of HKD 0.54 per contract at the exchange rate determined by the Exchange from time to time. 

6. Investor Compensation Levy
-  The collection of Investor Compensation Levy (ICL) is currently suspended and no person is required to pay since 2005.
-  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 10 Jan 2020

Margin Table

Derivatives Market Access Codes

Information Vendors

Access Code

AASTOCKS.com Limited 221475
Bloomberg Finance L.P. XDTA Comdty
CQG, Inc. GDU
DB Power Online Limited GDU
East Money Information Co., Ltd. GDU
ET Net Limited GDU
Hexin Flush Financial Information Network Ltd. GDU+year+month
Infocast Ltd GDU
Interactive Data Real-Time Services, Inc. Fn:GDU\MYYDD
Morningstar Real-Time Data Ltd. GDU
Reuters Ltd, a Thomson Reuters Company 0#HGDU:
Shanghai DZH Limited GDU+year+month
Shanghai Pobo Network Data Information Co., Ltd GDU+month+year
Shanghai Qianlong Advanced Technology Co Ltd. GDU
Telequote Data International Ltd. GDUmy
Tele-Trend Ltd. GDUFC, GDUmyy
Webstock Information Systems Co., Ltd GDU
Wind Information Co., Ltd. GDUF.HK
Zhengzhou Esunny Information Technology Co., Ltd GDU

Updated 23 Jul 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

Spot Month (M) andany 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 tick

Farthest month: 2 ticks

Other months: 2 ticks

Farthest month: 2 ticks

Other months: 2 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

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)

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/2019/MKDCMD00519E.pdf 

 

 


Updated 16 Jan 2020

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