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USD London Aluminium Mini Futures

USD London Aluminium Mini Futures is introduced to provide additional trading opportunities for users who have exposure in USD-denominated aluminium in the Asian time zone, and to offer new investment instruments for both retail and institutional investors who would like to gain access to its cash-settled features and relatively small contract sizes.



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Contract Specification

Contract
USD London Aluminium Mini Futures
Underlying
High Grade Primary Aluminium as defined in the rules and regulations of The London Metal Exchange from time to time
HKATS Code
LUA
Contract Size
5 tonnes
Trading Currency
 USD
Contract Months
Spot Month and the next eleven calendar months
Minimum Fluctuation
 USD 0.50 per tonne
Trading Hours1
(Hong Kong Time)
9:00 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 Hours on
Last Trading Day
(Hong Kong Time)
9:00 a.m. to 4:30 p.m. (day trading session) and
5:15 p.m. to 8:00 p.m. (after-hours trading session during British Summer Time)
5:15 p.m. to 9:00 p.m. (after-hours trading session outside British Summer Time)
Last Trading Day
(LTD)
The LTD determined by the LME for its Aluminium Futures (i.e. Usually two business days before the third Wednesday of the Spot Month). If it is not a Hong Kong Business Day, the LTD shall be the immediately preceding HK Business Day
Final Settlement Price
Shall be a whole number, determined by the Clearing House, and shall be the Official Settlement Price determined and published by the LME for its Aluminium Futures, two London Business Days before the third Wednesday of the Spot Month.
Settlement Type
Cash-settled
Holiday Schedule
Follow HKFE holiday schedule
Exchange Fee2
(per contract per side
)
 USD 0.50
 Settlement Fee (per lot) USD 0.20
Commission Levy
USD 0.07
Investor Compensation Levy3 The collection of Investor Compensation Levy is currently suspended and no person is required to pay since 2005.
Commission Rate
Negotiable
Calendar spreads
Cover Spot Month and the nearest 11 serial month

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 9:00 a.m. to 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. The amount indicated above is subject to change by the Exchange from time to time

3. 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.

 

Margin Table

Derivatives Market Access Codes

Vendor Name
Access Code
 AASTOCKS.com Limited 221495
 ACTIV Financial Systems, Inc.  LUA/<yy><m>.HF
 ATPlatform Technology Limited  LUA
 Bloomberg Finance L.P.  YALA Comdty
 Colt Technology Services Limited  LUAmy
 CQG, Inc.  LUA
 Fidessa Trading UK Limited  LUA_Fmy.HF
 ICE Data Connectivity & Feeds, Inc.  F:LUA\MYYDD
 Infocast Limited  LUA
 N2N-AFE (Hong Kong) Limited  870828
 QuotePower International Limited  P11230
 Refinitiv Limited  0#HLUA:
 SIX Financial Information Ltd.  LUAmy
 Telequote Data International Ltd.  LUAmy
 Tele-Trend Ltd.  YAFC, YAmyy
 Webstock Information Systems Co., Ltd.  LUA
 Zhengzhou Esunny Information Technology Co., Ltd.
LUA

Market Maker Obligations and Incentives

Obligations of LP

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

Obligations

USD London Metal Mini Futures

LP Type

1

CQ or QR

CQ

Contract Months

Any 3 of the followings:

M, M+1, M+2 or M+3

Contracts

Copper

Aluminium

Zinc

Max. Bid / Offer Spread

M+2

5 ticks

3 ticks

4 ticks

Other Months

6 ticks

4 ticks

4 ticks

Quote Size (contracts)

10

10

10

% of Trading Hours

70% (T or T+1)

For more details of the market maker obligations and incentives, please refer to the HKEX website at https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/HKFE/2020/MKD_CMD_00820_E.pdf

 

Additional Information on Cash Incentive Liquidity Providers

Market

Aggregate Market Share in June 2021^

USD London Aluminium Mini Futures

69.3%

USD London Copper Mini Futures

78.7%

USD London Zinc Mini Futures

57.6%

 

^aggregate market share of liquidity providers under the Cash Incentive Program in June 2021 (information last updated on 15 July 2021)