HKFE to Revise Margins for CITIC Pacific Ltd, Hang Seng Bank Ltd and China Telecom (Hong Kong) Ltd Stock Futures Contracts
Market Operations
29 Jul 1999
The Hong Kong Futures Exchange (HKFE) announces that with effect from Friday, 30 July 1999, the minimum margins to be collected by a member from its clients in respect of their dealings in CITIC Pacific Ltd, Hang Seng Bank Ltd and China Telecom (Hong Kong) Ltd stock futures contracts are as follows:
*Amounts in brackets are the original margin rates:
| Futures Contract |
Margin Rates |
Initial Margin
HK$ |
Maintenance Margin
HK$ |
CITIC Pacific
Ltd |
Full Rates
Spread Rates |
$16,000 ($14,000)
$3,125 ($3,125) |
$12,800 ($11,200)
$2,500 ($2,500) |
Hang Seng
Bank Ltd |
Full Rates
Spread Rates |
$18,000 ($17,000)
$2,700 ($2,600) |
$14,400 ($13,600)
$2,160 ($2,080) |
China Telecom
(Hong Kong) Ltd |
Full Rates
Spread Rates |
$30,000 ($18,000)
$4,500 ($3,000) |
$24,000 ($14,400)
$3,600 ($2,400) |
The Exchange emphasises that the above are minimum rates and member firms should set their margin requirements according to their clients' individual circumstances.
The Hong Kong Futures Exchange is a leading futures and options marketplace in the Asia Pacific Region, with a membership of over 130 companies, including a number of major international institutions. The Exchange is actively diversifying its product base, which now includes currency, interest rate and equity-based products.
For further enquiries, please contact HKFE Corporate Communications: Mr Mark Tung on 2842 9448 or Ms Chiu Yeung on 2842 9322.