Hang Seng Biotech Index Futures

Introduction

Hang Seng Biotech Index (HSBIO) was launched on 16 December 2019 and tracks the performance of the 30 largest biotech companies that are listed in Hong Kong and eligible for Southbound Stock Connect.

The HSBIO is freefloat-adjusted market-capitalization weighted with a 10% cap on individual stocks.

The latest list of constituent stocks and compilation methodology are available on the website of Hang Seng Indexes Company Limited at http://www.hsi.com.hk

The Hang Seng Biotech Index Futures are the first exchange-traded derivatives contracts to track the Index. They complement HKEX’s flagship Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng TECH Index products, providing investors with a unique tool to manage risks in their exposures to Hong Kong-listed biotech companies, especially given the sector’s volatile nature.

Updated 27 Nov 2025

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Contract Summary

Item	Contract Terms
Underlying Index	Hang Seng Biotech Index
HKATS Code	HBI
Contract Multiplier	HK$50 per index point
Minimum Fluctuation	One index point
Contract Months	Spot Month, next three calendar months and next three calendar quarter months
Pre-Market Opening Period	8:45 am - 9:15 am & 12:30 pm - 1:00 pm
Trading Hours	9:15 am - 12:00 noon, 1:00 pm - 4:30 pm & 5:15 pm - 3:00 am (Expiring contract month closes at 4:00 pm on the Last Trading Day)
Last Trading Day	The second last Trading Day of the Contract Month
Final Settlement Price	The average of quotations taken at (i) five (5) minute intervals from five (5) minutes after the start of, and up to five (5) minutes before the end of, the Continuous Trading Session of SEHK; and (ii) the close of trading on SEHK on the Last Trading Day.
Transaction Costs	Exchange Fee HK$5.00 Commission Levy HK$0.54 Commission Rate Negotiable

Please visit “Rules, Regulations and Procedures of the Futures Exchange” under “Rules and Regulations” of the HKEx website for full contract specifications.

Margin Table

Trading Fees and Commission

Trading Fee and Levies
Exchange Fee	HK$5.00 per contract per side
Commission Levy	HK$0.54 per contract per side
Investor Compensation Levy*	HK$0.00 per contract per side
Total	HK$5.54 per contract per side
Commission	Negotiable
*The amount indicated above is subject to change from time to time.

Market Makers or Liquidity Providers Obligations and Incentives

For details of the Liquidity Providing Obligations and Incentives, please refer to the circular.