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HKFE to Revise Margins for Red-Chip Futures and selected Stock Futures Contracts

Market Operations
25 Feb 1999

The Hong Kong Futures Exchange (HKFE) announces that with effect from Friday, 26 February 1999, the minimum margins to be collected by a member from its clients in respect of their dealings in the Red-Chip futures and selected stock futures contracts are as follows:

*Amounts in brackets are the original margin rates:

Futures Contract Margin Rates Initial Margin
(HK$)
Maintenance Margin (HK$)
Red Chip Full Rates
Spread Rates
$7,500 ($9,500)
$1,250 ($2,500)
$6,000 ($7,600)
$1,000 ($2,000)
Swire Pacific Ltd "A" Full Rates
Spread Rates
$11,000 ($13,000)
$2,000 ($2,000)
$8,800 ($10,400)
$1,600 ($1,600)
CITIC Pacific Ltd Full Rates
Spread Rates
$12,500 ($14,000)
$3,125 ($3,125)
$10,000 ($11,200)
$2,500 ($2,500)
China Resources Enterprise Ltd Full Rates
Spread Rates
$19,000 ($22,000)
$7,500 ($7,500)
$15,200 ($17,600)
$6,000 ($6,000)
Shanghai Industrial Holdings Ltd Full Rates
Spread Rates
$12,000 ($15,000)
$1,875 ($1,875)
$9,600 ($12,000)
$1,500 ($1,500)
CLP Holdings Ltd Full Rates
Spread Rates
$7,000 ($9,000)
$1,050 ($1,400)
$5,600 ($7,200)
$840 ($1,120)

The Exchange emphasises that the above are minimum rates and member firms should set their margin requirements according to their clientsÕ 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 Manager Miss Chiu Yeung on 2842 9322.

Updated 25 Feb 1999