Market Turnover


USD Gold Futures


HKEX’s gold futures contracts, which are denominated in USD and off shore RMB (CNH) and physically delivered in Hong Kong, will help to build Hong Kong into a mature, comprehensive capital market that can serve as a risk management centre for both Mainland investors and international participants.

Updated 01 Aug 2019


Contract Specification

Contract USD Gold Futures
Underlying 1 kilogram gold of not less than0.9999 fineness bearing a serial number and identifying stamp of a Recognised Refiner
Contract Size 1 kilogram
Trading Currency U.S. dollars
Contract Months Spot Month and the next eleven calendar months
Minimum Fluctuation USD 0.01 per gram
Trading Hours1
(Hong Kong Time)
8:30 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 3:00 a.m. the next morning (after-hours trading session)
Trading Hours2on
Last Trading Day
(Hong Kong Time)
8:30 a.m. to 4:30p.m.
Last Trading Day
The third Monday of the Contract Month
If it is not a Trading Day, the Last Trading Day shall be the immediately following Trading Day
Final Settlement Day The second Trading Day after the Last Trading Day
Settlement Method Physical settlement
Settlement Currency U.S. dollars
Final Settlement Price Volume weighted average price of all trades3in the expiring Contract Month during the last thirty minutes of trading on the Last Trading Day
Delivery Site An Approved Depository
Minimum Delivery Size 1 kilogram
Holiday Schedule Follow HKFE holiday schedule
Trading Fee4 (per contract per side) USD 1.00
Settlement Fee4 (per contract per side) USD 2.00
Levies5 (per contract per side) USD 0.07
Investor Compensation Levy6
The collection of Investor Compensation Levy is currently suspended and no person is required to pay since 2005.
Commission Rate Negotiable

Notes :
1. There is no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year. The trading hours on those three days shall be 8:30 a.m. – 12:30 p.m.. There is no after-hours trading session if it is a bank holiday in the United Kingdom, the United States and the People’s Republic of China.

2. There shall be no trading after 12:30 p.m. on the eves of Christmas, New Year and Lunar New Year. The trading hours on those three days shall be 8:30 a.m. – 12:30 p.m..

3. All trades other than Block Trades in the expiring Contract Month that result from the matching on HKATS of (i) two orders in the individual market series; or (ii) a standard combination order and an order in the individual market series, and executed during the last thirty minutes of trading on the Last Trading Day.  If there is no valid traded price during the last thirty minutes of trading on the Last Trading Day, the determination of Final Settlement Price can be found here

4. The amount indicated above is subject to change by the Exchange from time to time.

5. The USD equivalent of HKD 0.54 per contract at the exchange rate determined by the Exchange from time to time. 

6. Investor Compensation Levy
-  If the SFC is to publish a termination of exemption notice, the effective date of the reinstatement of the ICL, if any, shall not be earlier than 2 months after the date of such publication.
-  EPs are reminded to take all necessary actions to prepare for the ICL calculation and payment of ICL via HKEX in case the ICL is reinstated by the SFC, including enhancing their HKATS Application Programming Interface, back office systems, relevant applications and operational facilities.

Updated 28 Apr 2022

Margin Table

Derivatives Market Access Codes

Information Vendors

Access Code Limited 221475
Bloomberg Finance L.P. XDTA Comdty
DB Power Online Limited GDU
East Money Information Co., Ltd. GDU
ET Net Limited GDU
Hexin Flush Financial Information Network Ltd. GDU+year+month
Infocast Ltd GDU
Interactive Data Real-Time Services, Inc. Fn:GDU\MYYDD
Morningstar Real-Time Data Ltd. GDU
Reuters Ltd, a Thomson Reuters Company 0#HGDU:
Shanghai DZH Limited GDU+year+month
Shanghai Pobo Network Data Information Co., Ltd GDU+month+year
Shanghai Qianlong Advanced Technology Co Ltd. GDU
Telequote Data International Ltd. GDUmy
Tele-Trend Ltd. GDUFC, GDUmyy
Webstock Information Systems Co., Ltd GDU
Wind Information Co., Ltd. GDUF.HK
Zhengzhou Esunny Information Technology Co., Ltd GDU

Updated 23 Jul 2018

Market Maker Obligations and Incentives

Obligations of LP
LP will be required to meet at least the following obligations:


USD Gold Futures

LP Type

1 (Option A)

1 (Option B)


CQ or QR


CQ or QR

Any 2 of the followings:
Spot Month (M), M+1, M+2

M and M+1
Any 1 of the following contracts:
M, M+1, M+2; and any 1 of the next Jun or the next Dec contracts

Max. Bid / Offer Spread

4 ticks
(~6 basis points)1

Other months: 
2 ticks
(~3 basis points)1

M: 4 ticks
(~6 basis points)1
M+1: 3 ticks
(~5 basis points)1

4 ticks
(~6 basis points)1

Other months: 
3 ticks
(~5 basis points)1


Quote Size (contracts)



% of Trading Hours

70% (T or T+1)

50% (T) and 94% of LTD

50% (T or T+1)


1. Basis points are calculated and rounded based on HKEX USD Gold Futures Final Settlement Price of 21 Mar 2022 Contract.

2. All basis points are listed for reference only. LP performance will be measured on ticks.

3. Effective Dates from 4 July 2022 (T Session) to 30 December 2022 (T Session) (both dates inclusive).

For more details of the market maker obligations and incentives, please refer to the HKEX website at

Updated 06 Jul 2022