HONG KONG EXCHANGES AND CLEARING LIMITED
香港期貨交易所有限公司
(香港交易及結算所有限公司全資附屬公司)
Hong Kong Futures Exchange Limited(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
30 July 2015
HKFE Announces Revised Margins for Futures Contracts
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Monday, 3 August 2015, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company's normal procedures and standard margining methodology.
For the current margins, please refer to the margin information on the HKEx website at the following link (http://www.hkex.com.hk/eng/market/rm/rm_dcrm/riskdata/margin_hkcc/fomargin.htm).
(HK$)
Maintenance Margin(HK$)
Hang Seng Index | Full Rate | 118,600 | /lot | 94,900 | /lot |
Spread Rate | 23,750 | /spread | 19,000 | /spread | |
Mini-Hang Seng Index | Full Rate | 23,720 | /lot | 18,980 | /lot |
Spread Rate | 4,750 | /spread | 3,800 | /spread | |
Hang Seng China | Full Rate | 69,550 | /lot | 55,650 | /lot |
Enterprises Index | Spread Rate | 20,900 | /spread | 16,700 | /spread |
Mini - Hang Seng China | Full Rate | 13,910 | /lot | 11,130 | /lot |
Enterprises Index | Spread Rate | 4,180 | /spread | 3,340 | /spread |
CES China 120 Index | Full Rate | 40,070 | /lot | 32,060 | /lot |
Spread Rate | 12,030 | /spread | 9,620 | /spread | |
HSCEI Dividend Point | Full Rate | 2,040 | /lot | 1,640 | /lot |
Index | Spread Rate | 2,450 | /spread | 1,970 | /spread |
香 港 中 環 港 景 街 一 號 國 際 金 融 中 心 一 期 1 2 樓
12/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong
電話 Tel: + 852 2522 1122 傳真 Fax: +852 2295 3106 網址 Website: www.hkex.com.hk 電郵 E-mail: info@hkex.com.hk
…/2
HSI Dividend Point Index | Full Rate | - 2 - | 4,290 | /lot | 3,430 | /lot |
Spread Rate | 5,150 | /spread | 4,120 | /spread | ||
HSI Volatility Index | Full Rate | 32,860 | /lot | 26,290 | /lot | |
Spread Rate | 9,860 | /spread | 7,890 | /spread | ||
IBOVESPA | Full Rate | 16,020 | /lot | 12,820 | /lot | |
Spread Rate | 4,810 | /spread | 3,850 | /spread | ||
S&P BSE Sensex Index | Full Rate | 17,790 | /lot | 14,240 | /lot | |
Spread Rate | 5,340 | /spread | 4,280 | /spread | ||
FTSE/JSE Top40 Index | Full Rate | 29,200 | /lot | 23,360 | /lot | |
Spread Rate | 8,760 | /spread | 7,010 | /spread | ||
MICEX Index | Full Rate | 18,530 | /lot | 14,830 | /lot | |
Spread Rate | 5,560 | /spread | 4,450 | /spread | ||
One-Month HIBOR | Full Rate | 213 | /lot | 171 | /lot |
Spread Rate Please refer to attached table
Three-Month HIBOR | Full Rate | 635 /lot 508 /lot |
Spread Rate | Please refer to attached table |
iShares FTSE A50 China | Full Rate | 11,210 | /lot | 8,970 | /lot |
Index ETF | Spread Rate | 3,370 | /spread | 2,700 | /spread |
Aluminum Corporation of | Full Rate | 1,460 | /lot | 1,170 | /lot |
China Ltd | Spread Rate | 438 | /spread | 351 | /spread |
ChinaAMC CSI 300 Index | Full Rate | 22,640 | /lot | 18,110 | /lot |
ETF | Spread Rate | 6,800 | /spread | 5,440 | /spread |
Bank of China Ltd | Full Rate | 462 | /lot | 369 | /lot |
Spread Rate | 139 | /spread | 111 | /spread | |
Bank of Communications | Full Rate | 804 | /lot | 643 | /lot |
Co Ltd | Spread Rate | 242 | /spread | 193 | /spread |
- 3 -
The Bank of East Asia Ltd Full Rate 476 /lot 381 /lot
Spread Rate 143 /spread 115 /spread
BOC Hong Kong
(Holdings) Ltd
Full Rate 1,590 /lot 1,270 /lot
Spread Rate 477 /spread 381 /spread
China Construction Bank
Corporation
Full Rate 547 /lot 438 /lot
Spread Rate 165 /spread 132 /spread
China Communications
Construction Co Ltd
Full Rate 1,910 /lot 1,530 /lot
Spread Rate 573 /spread 459 /spread
China Mobile Ltd Full Rate 4,330 /lot 3,470 /lot
Spread Rate 1,300 /spread 1,050 /spread
China Unicom (Hong
Kong) Ltd
Full Rate 3,250 /lot 2,600 /lot
Spread Rate 975 /spread 780 /spread
CITIC Ltd Full Rate 1,380 /lot 1,110 /lot
Spread Rate 414 /spread 333 /spread
CK Hutchison Holdings
Ltd (CKH - Multiplier =
500)
Full Rate 4,110 /lot 3,290 /lot
Spread Rate 1,240 /spread 987 /spread
CK Hutchison Holdings
Ltd (CKG - Multiplier =
904)
Full Rate 7,427 /lot 5,945 /lot
Spread Rate 2,241 /spread 1,784 /spread
CK Hutchison Holdings
Ltd (CKJ - Multiplier =
1,807)
Full Rate 14,854 /lot 11,890 /lot
Spread Rate 4,481 /spread 3,567 /spread
CK Hutchison Holdings
Ltd (CKK - Multiplier =
1,236)
Full Rate 10,161 /lot 8,133 /lot
Spread Rate 3,066 /spread 2,440 /spread
China Life Insurance Co
Ltd
Full Rate 3,990 /lot 3,190 /lot
Spread Rate 1,200 /spread 957 /spread
- 4 -
CLP Holdings Ltd Full Rate 2,060 /lot 1,650 /lot
Spread Rate 618 /spread 495 /spread
China Merchants Bank Co
Ltd
Full Rate 1,480 /lot 1,190 /lot
Spread Rate 444 /spread 357 /spread
CNOOC Ltd Full Rate 964 /lot 771 /lot
Spread Rate 290 /spread 232 /spread
Cathay Pacific Airways Ltd Full Rate 1,570 /lot 1,260 /lot
Spread Rate 471 /spread 378 /spread
China Petroleum & Chemical Corporation
Full Rate 913 /lot 730 /lot
Spread Rate 274 /spread 219 /spread
CSOP FTSE China A50
ETF
Full Rate 13,840 /lot 11,080 /lot
Spread Rate 4,160 /spread 3,330 /spread
China Telecom
Corporation Ltd
Full Rate 1,030 /lot 819 /lot
Spread Rate 309 /spread 246 /spread
Esprit Holdings Ltd Full Rate 87 /lot 70 /lot
Spread Rate 27 /spread 21 /spread
FIH Mobile Ltd
(FIH: Multiplier = 1,000)
Full Rate 511 /lot 409 /lot
Spread Rate 154 /spread 123 /spread
FIH Mobile Ltd
(FIA: Multiplier = 1,033)
Full Rate 528 /lot 422 /lot
Spread Rate 159 /spread 127 /spread
Power Assets Holdings
Ltd
Full Rate 2,250 /lot 1,800 /lot
Spread Rate 675 /spread 540 /spread
Hong Kong Exchanges and Clearing Ltd
Full Rate 4,130 /lot 3,310 /lot
Spread Rate 1,240 /spread 993 /spread
HSBC Holdings Plc Full Rate 1,760 /lot 1,410 /lot
Spread Rate 528 /spread 423 /spread
- 5 -
The Hong Kong and China Gas Co Ltd (HKG: Multiplier = 1,000)
Full Rate 990 /lot 792 /lot
Spread Rate 297 /spread 238 /spread
The Hong Kong and China Gas Co Ltd (HKH: Multiplier = 1,100)
Full Rate 1,089 /lot 871 /lot
Spread Rate 327 /spread 262 /spread
Henderson Land Development Co Ltd (HLD: Multiplier = 1,000)
Full Rate 3,410 /lot 2,730 /lot
Spread Rate 1,030 /spread 819 /spread
Henderson Land Development Co Ltd (HLE: Multiplier = 1,100)
Full Rate 3,751 /lot 3,003 /lot
Spread Rate 1,133 /spread 901 /spread
Huaneng Power
International Inc
Full Rate 2,260 /lot 1,810 /lot
Spread Rate 678 /spread 543 /spread
Hang Seng Bank Ltd Full Rate 978 /lot 783 /lot
Spread Rate 294 /spread 235 /spread
Industrial and Commercial
Bank of China Ltd
Full Rate 528 /lot 422 /lot
Spread Rate 159 /spread 127 /spread
Li & Fung Ltd Full Rate 906 /lot 725 /lot
Spread Rate 272 /spread 218 /spread
MTR Corporation Ltd Full Rate 1,110 /lot 882 /lot
Spread Rate 333 /spread 265 /spread
New World Development
Co Ltd
Full Rate 905 /lot 724 /lot
Spread Rate 272 /spread 218 /spread
Ping An Insurance (Group) Co of China Ltd
(PAI: Multiplier = 500)
Full Rate 3,030 /lot 2,430 /lot
Spread Rate 909 /spread 729 /spread
Ping An Insurance (Group) Co of China Ltd
(PAA: Multiplier = 1,000)
Full Rate 6,060 /lot 4,860 /lot
Spread Rate 1,818 /spread 1,458 /spread
- 6 -
PetroChina Co Ltd Full Rate 1,320 /lot 1,060 /lot
Spread Rate 396 /spread 318 /spread
PICC Property and Casualty
Company Ltd
Full Rate 4,790 /lot 3,830 /lot
Spread Rate 1,440 /spread 1,150 /spread
Sun Hung Kai Properties Ltd Full Rate 8,320 /lot 6,660 /lot
Spread Rate 2,500 /spread 2,000 /spread
Swire Pacific Ltd 'A' Full Rate 3,180 /lot 2,550 /lot
Spread Rate 954 /spread 765 /spread
The Wharf (Holdings) Ltd Full Rate 3,600 /lot 2,880 /lot
Spread Rate 1,080 /spread 864 /spread
(RMB)
Maintenance Margin
(RMB)
London Aluminium Mini | Full Rate | 3,820 | /lot | 3,060 | /lot |
Futures | Spread Rate | 1,150 | /spread | 918 | /spread |
London Copper Mini | Full Rate | 10,620 | /lot | 8,500 | /lot |
Futures | Spread Rate | 3,190 | /spread | 2,550 | /spread |
London Zinc Mini Futures | Full Rate | 4,090 | /lot | 3,280 | /lot |
Spread Rate | 1,230 | /spread | 984 | /spread | |
RMB Currency Futures | Full Rate | 11,780 | /lot | 9,420 | /lot |
(USD/CNH Futures#) | Spread Rate | 7,070 | /spread | 5,660 | /spread |
Spot Month Charge* | 2,360 | /lot | 1,890 | /lot |
* Spot Month Charge will be imposed on the spot month contract during the last four business days before the business day immediately preceding the final settlement day.
# USD = US dollar; CNH = RMB traded in Hong Kong
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
* * *
Spread Combination | Initial Margin (HK$) | Maintenance Margin (HK$) |
1st month vs 3rd month 1st month vs 4th month 1st month vs 5th month 2nd month vs 3rd month 2nd month vs 4th month 2nd month vs 5th month | 1,270 per spread | 1,010 per spread |
1st month vs 6th month 1st month vs 7th month 1st month vs 8th month 1st month vs 9th month 1st month vs 10th month 2nd month vs 6th month 2nd month vs 7th month 2nd month vs 8th month 2nd month vs 9th month 2nd month vs 10th month | 1,270 per spread | 1,010 per spread |
3rd month vs 4th month 3rd month vs 5th month 4th month vs 5th month | 1,270 per spread | 1,010 per spread |
3rd month vs 6th month 3rd month vs 7th month 3rd month vs 8th month 3rd month vs 9th month 3rd month vs 10th month 4th month vs 6th month 4th month vs 7th month 4th month vs 8th month 4th month vs 9th month 4th month vs 10th month 5th month vs 6th month 5th month vs 7th month 5th month vs 8th month 5th month vs 9th month 5th month vs 10th month | 1,270 per spread | 1,010 per spread |
6th month vs 7th month 6th month vs 8th month 6th month vs 9th month 6th month vs 10th month 7th month vs 8th month 7th month vs 9th month 7th month vs 10th month 8th month vs 9th month 8th month vs 10th month 9th month vs 10th month | 1,240 per spread | 989 per spread |
1st month vs 2nd month | 382 per spread | 306 per spread |
Spread Combination | Initial Margin (HK$) | Maintenance Margin (HK$) |
1st month vs 2nd month 1st month vs 3rd month | 171 per spread | 137 per spread |
1st month vs 4th month 1st month vs 5th month 1st month vs 6th month | 171 per spread | 137 per spread |
2nd month vs 3rd month | 64 per spread | 52 per spread |
2nd month vs 4th month 2nd month vs 5th month 2nd month vs 6th month 3rd month vs 4th month 3rd month vs 5th month 3rd month vs 6th month | 64 per spread | 52 per spread |
4th month vs 5th month 4th month vs 6th month 5th month vs 6th month | 64 per spread | 52 per spread |
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