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MSCI Philippines Net Total Return (USD) Index Futures

Introduction

The MSCI Philippines Net Total Return Index is designed to measure the performance of the large and mid cap segments of the Philippines market.  As at 30 June 2020, the index comprises 21 constituents and covers about 85% of the free float-adjusted market capitalization of the Philippines equity market. The Index is calculated in a net total return form (i.e. reinvestment of net dividend payout into the index portfolio).

 

Uses of MSCI Philippines Net Total Return (USD) Index Futures

The introduction of the MSCI Philippines Net Total Return (USD) Index Futures contract aims to meet the trading and hedging needs of investors who have exposure to large and mid-cap companies in Philippines in a cost effective manner.  Asset managers and banks can make use of MSCI Philippines Net Total Return (USD) Index Futures for cash equitisation and manage market, settlement and liquidity risks without cross zone trading issue. 

The constituent list and vendor codes can be found in MSCI websites https://www.msci.com/constituents and https://www.msci.com/ticker-codes respectively.  


Updated 12 Aug 2020


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CONTRACT SUMMARY

Item Contract Terms
Underlying Index MSCI Philippines Net Total Return Index
HKATS Code MPN
Trading Currency USD
Index Currency USD 
Contract Multiplier US$50 per index point
Minimum Fluctuation 0.001
Contract Months 2 nearest serial months and the following 4 quarterly months
Trading Hours
9:00am-4:30pm (T); 5:15pm-3:00am (T+1)
(Expiring contract month closes at 4:30 pm on the Last Trading Day)

Last Trading Day 3rd Friday.  If it falls on a Hong Kong public holiday, the LTD will be the preceding Hong Kong business day
Final Settlement Price

The official closing value of the underlying index for the LTD, rounded to the nearest 3 decimal places^

^ If MSCI announces there is an unexpected market closure event on LTD, FSP shall be based on the final Unexpected Market Closure Index level published by MSCI.

Transaction Costs Exchange Fee US$0.60
Commission Levy US$0.07
Commission Rate Negotiable

Updated 18 Aug 2020

TRADING FEES AND COMMISSION

Trading Fee and Levies
Exchange Fee US$0.60 per contract per side
Commission Levy US$0.07 per contract per side
Investor Compensation Levy* HK$0.00 per contract per side
Total US$0.67 per contract per side
Commission Negotiable
The amount indicated above is subject to change from time to time.

Updated 26 Jun 2020

Updated 12 Aug 2020