HKFE Announces Revised Margins for Futures Contracts
Market Operations
26 Apr 2012
Hong Kong Futures Exchange
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
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 Wednesday, 2 May 2012, 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.
|
Futures Contract |
Margin Rate |
Initial Margin
(HK$) |
Maintenance Margin
(HK$) |
|
|
|
|
|
|
Hang Seng Index |
Full Rate |
66,250 |
/lot |
53,000 |
/lot |
|
Spread Rate |
7,500 |
/spread |
6,000 |
/spread |
|
|
|
|
|
|
|
|
Mini-Hang Seng Index |
Full Rate |
13,250 |
/lot |
10,600 |
/lot |
|
Spread Rate |
1,500 |
/spread |
1,200 |
/spread |
|
|
|
|
|
|
|
|
H-shares Index |
Full Rate |
34,700 |
/lot |
27,750 |
/lot |
|
Spread Rate |
10,450 |
/spread |
8,350 |
/spread |
|
|
|
|
|
|
|
|
Mini H-shares Index |
Full Rate |
6,940 |
/lot |
5,550 |
/lot |
|
Spread Rate |
2,090 |
/spread |
1,670 |
/spread |
|
|
|
|
|
|
|
|
HSCEI Dividend Point Index |
Full Rate |
1,880 |
/lot |
1,510 |
/lot |
|
Spread Rate |
2,260 |
/spread |
1,820 |
/spread |
|
|
|
|
|
|
|
|
HSI Dividend Point Index |
Full Rate |
3,610 |
/lot |
2,890 |
/lot |
|
Spread Rate |
4,340 |
/spread |
3,470 |
/spread |
|
|
|
|
|
|
|
|
HSI Volatility Index |
Full Rate |
31,560 |
/lot |
25,250 |
/lot |
|
|
Spread Rate |
9,470 |
/spread |
7,580 |
/spread |
|
|
|
|
|
|
|
|
IBOVESPA Futures |
Full Rate |
19,780 |
/lot |
15,830 |
/lot |
|
Spread Rate |
5,940 |
/spread |
4,750 |
/spread |
|
|
|
|
|
|
|
|
Sensex Index Futures |
Full Rate |
11,030 |
/lot |
8,830 |
/lot |
|
Spread Rate |
3,310 |
/spread |
2,650 |
/spread |
|
|
|
|
|
|
|
|
FTSE/JSE Top40 Futures |
Full Rate |
18,940 |
/lot |
15,150 |
/lot |
|
Spread Rate |
5,690 |
/spread |
4,550 |
/spread |
|
|
|
|
|
|
|
|
MICEX Index Futures |
Full Rate |
16,490 |
/lot |
13,190 |
/lot |
|
Spread Rate |
4,950 |
/spread |
3,960 |
/spread |
|
|
|
|
|
|
|
|
Three-Year EFN
|
Full Rate |
10,890 |
/lot |
8,710 |
/lot |
|
Spread Rate |
3,270 |
/spread |
2,620 |
/spread |
|
|
|
|
|
|
|
|
One-Month HIBOR |
Full Rate |
418 |
/lot |
335 |
/lot |
|
Spread Rate |
Please refer to attached table |
|
|
|
|
|
|
|
|
Three-Month HIBOR |
Full Rate |
696 |
/lot |
557 |
/lot |
|
Spread Rate |
Please refer to attached table |
|
|
|
|
|
|
|
|
Aluminum Corporation of China Ltd |
Full Rate |
735 |
/lot |
588 |
/lot |
|
Spread Rate |
221 |
/spread |
177 |
/spread |
|
|
|
|
|
|
|
|
Bank of China Ltd |
Full Rate |
206 |
/lot |
165 |
/lot |
|
Spread Rate |
62 |
/spread |
50 |
/spread |
|
|
|
|
|
|
|
|
Bank of Communications Co Ltd |
Full Rate |
416 |
/lot |
333 |
/lot |
|