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MSCI China Free (USD) Index Futures

Introduction

The MSCI China Free Index Includes large and mid-cap Chinese companies. Index constituents include B shares, H shares, Red chips, P chips and foreign listed shares. Currently, the index includes large cap and mid cap A shares represented at 20% of their free-float adjusted market capitalization.  As of 30 June 2020, there are 711 constituents..

Uses of MSCI China Free (USD) Index Futures

The introduction of the MSCI China (USD) index Futures contract aims to meet the trading and hedging needs of investors who have exposure to large and mid-cap Chinese companies in a cost effective manner.  Asset managers and banks can make use of MSCI China Free (USD) Index Futures for cash equitisation and manage market, settlement and liquidity risks without cross zone trading issue. 

The constituent list and vendor codes can be found in MSCI websites https://www.msci.com/constituents and https://www.msci.com/ticker-codes respectively.

The Commodity Futures Trading Commission (CFTC) has certified the MSCI China Free (USD) Index Futures contracts to be offered and sold to persons in the U.S.


Updated 12 Aug 2020


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CONTRACT SUMMARY

Item Contract Terms
Underlying Index MSCI China Free Index 
HKATS Code MCU
Trading Currency USD
Index Currency USD
Contract Multiplier US$5 per index point
Minimum Fluctuation 2.00
Contract Months 2 nearest serial months and the following 4 quarterly months
Trading Hours
9:00am-4:30pm (T); 5:15pm-3:00am (T+1)
(Expiring contract month closes at 4:30 pm on the Last Trading Day)

Last Trading Day Second last Hong Kong business day of the month, provided it’s a common business day on which all component stocks of the index are open for trading. If not, it shall be the common business day immediately preceding the second last business day
Final Settlement Price

The official closing value of the underlying index for the LTD, rounded to the nearest 2 decimal places^

^ If MSCI announces there is an unexpected market closure event on LTD, FSP shall be based on the final Unexpected Market Closure Index level published by MSCI.

Transaction Costs Exchange Fee US$1.00
Commission Levy US$0.07
Commission Rate Negotiable

Updated 18 Aug 2020

TRADING FEES AND COMMISSION

Trading Fee and Levies
Exchange Fee US$1.00 per contract per side
Commission Levy US$0.07 per contract per side
Investor Compensation Levy* HK$0.00 per contract per side
Total US$1.07 per contract per side
Commission Negotiable
The amount indicated above is subject to change from time to time.

Updated 28 Jul 2020

Updated 12 Aug 2020