USD London Copper Mini Futures
USD London Copper Mini Futures is introduced to provide additional trading opportunities for users who have exposure in USD-denominated copper in the Asian time zone, and to offer new investment instruments for both retail and institutional investors who would like to gain access to its cash-settled features and relatively small contract sizes.
Derivatives Market Access Codes
Vendor Name
|
Access Code
|
AASTOCKS.com Limited
|
221505
|
ACTIV Financial Systems, Inc.
|
LUC/<yy><m>.HF
|
ATPlatform Technology Limited
|
LUC
|
Bloomberg Finance L.P.
|
YCOA Comdty
|
Colt Technology Services Limited
|
LUCmy
|
CQG, Inc.
|
LUC
|
Fidessa Trading UK Limited
|
LUC_Fmy.HF
|
ICE Data Connectivity & Feeds, Inc.
|
F:LUC\MYYDD
|
Infocast Limited
|
LUC
|
N2N-AFE (Hong Kong) Limited
|
870830
|
QuotePower International Limited
|
P11232
|
Refinitiv Limited
|
0#HLUC:
|
SIX Financial Information Ltd.
|
LUCmy
|
Telequote Data International Ltd.
|
LUCmy
|
Tele-Trend Ltd.
|
YCFC, YCmyy
|
Webstock Information Systems Co., Ltd.
|
LUC
|
Zhengzhou Esunny Information Technology Co., Ltd.
|
LUC
|
Market Maker Obligations and Incentives
Obligations of LP
LP will be required to meet at least the following obligations:
Obligations
|
USD London Metal Mini Futures
|
LP Type
|
2
|
CQ or QR
|
CQ
|
Contract Months
|
Any 3 of the followings:
M, M+1, M+2 or M+3
|
Contracts
|
Copper
|
Aluminium
|
Zinc
|
Max. Bid / Offer Spread
|
M+2
|
6 ticks (~3 basis points)1
|
3 ticks (~5 basis points)1
|
4 ticks (~7 basis points)1
|
Other Months
|
8 ticks (~4 basis points)1
|
4 ticks (~7 basis points)1
|
4 ticks (~7 basis points)1
|
Quote Size (contracts)
|
10
|
10
|
10
|
% of Trading Hours
|
70% (T or T+1)
|
Notes:
1. Basis points are calculated and rounded based on LME Official Settlement Price on 30 September 2021.
2. All basis points are listed for reference only. LP performance will be measured on ticks.
3. Effective Dates from 3 Jan 2022 (T Session) to 30 December 2022 (T Session) (both dates inclusive).
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/2021/MKS_GCMD_003_21_EN.pdf
Additional Information on Cash Incentive Liquidity Providers
Market |
Aggregate Market Share in May 2022^ |
USD London Aluminium Mini Futures |
82.7% |
USD London Copper Mini Futures |
74.3% |
USD London Zinc Mini Futures |
91.9% |
^aggregate market share of liquidity providers under the Cash Incentive Program in May 2022 (information last updated on 10 June 2022)