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MSCI EM ex China Net Total Return (USD) Index Futures

Introduction

The MSCI Emerging Markets ex China Index is designed to measure the performance of the large and mid cap representation across 25 of the 26 EM countries excluding China . EM countries include: Argentina, Brazil, Chile, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. As at 30 June 2020, the index comprises 674 constituents and covers about 85% of the free float-adjusted market capitalization in EM.


Uses of MSCI Emerging Markets ex China (USD) Index Futures

The introduction of the MSCI Emerging Markets ex China (USD) Index Futures contract aims to meet the trading and hedging needs of investors who have exposure to large and mid-cap companies in EM in a cost effective manner.  Asset managers and banks can make use of MSCI Emerging Markets ex China (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 Emerging Markets ex China (USD) Index Futures contracts to be offered and sold to persons in the U.S.


Updated 17 Aug 2020


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CONTRACT SUMMARY

Item Contract Terms
Underlying Index MSCI EM ex China Net Total Return Index
HKATS Code MXC
Trading Currency USD
Index Currency USD
Contract Multiplier US$10 per index point
Minimum Fluctuation 0.01
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 3rd Friday.  If it falls on a Hong Kong public holiday, the LTD will be the preceding Hong Kong 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$0.60
Commission Levy US$0.07
Commission Rate Negotiable

Updated 18 Aug 2020

TRADING FEES AND COMMISSION

Trading Fee and Levies
Exchange Fee US$0.60 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$0.67 per contract per side
Commission Negotiable
The amount indicated above is subject to change from time to time.

Updated 14 Aug 2020

Updated 17 Aug 2020