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 Monday, 3 November 2008, 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.
Futures Contract - Margin Rate - Initial Margin (HK$) - Maintenance Margin (HK$)
Hang Seng Index - Full Rate - 178,650/lot - 142,920/lot
Spread Rate - 7,500/spread - 6,000/spread
Mini-Hang Seng Index - Full Rate - 35,730/lot - 28,584/lot
Spread Rate - 1,500/spread - 1,200/spread
FTSE/Xinhua China 25 Index - Full Rate - 164,270/lot - 131,416/lot
Spread Rate - 49,290/spread - 39,432/spread
H-Financials Index - Full Rate - 139,710/lot - 111,768/lot
Spread Rate - 41,920/spread - 33,536/spread
H-shares Index - Full Rate - 112,700/lot - 90,160/lot
Spread Rate - 33,850/spread - 27,080/spread
Mini H-shares Index - Full Rate - 22,540/lot - 18,032/lot
Spread Rate - 6,770/spread - 5,416/spread
Three-Year EFN - Full Rate - 17,039/lot - 13,631/lot
Spread Rate - 5,112/spread - 4,089/spread
One-Month HIBOR - Full Rate - 20,881/lot - 16,705/lot
Spread Rate - Please refer to attached table
Three-Month HIBOR - Full Rate - 11,332/lot - 9,066/lot
Aluminum Corporation of China Ltd - Full Rate - 2,924/lot - 2,339/lot
Spread Rate - 877/spread - 702/spread
Bank of China Ltd - Full Rate - 698/lot - 558/lot
Spread Rate - 209/spread - 167/spread
Bank of Communications Co Ltd - Full Rate - 1,624/lot - 1,300/lot
Spread Rate - 487/spread - 390/spread
The Bank of East Asia Ltd - Full Rate - 913/lot - 730/lot
Spread Rate - 274/spread - 219/spread
BOC Hong Kong (Holdings) Ltd - Full Rate - 1,308/lot - 1,046/lot
Spread Rate - 392/spread - 314/spread
China Construction Bank Corporation - Full Rate - 1,154/lot - 923/lot
Spread Rate - 346/spread - 277/spread
China Communications Construction Co Ltd - Full Rate - 2,278/lot - 1,822/lot
Spread Rate - 683/spread - 547/spread
China Mobile Ltd - Full Rate - 7,420/lot - 5,936/lot
Spread Rate - 2,226/spread - 1,781/spread
China Unicom Ltd (CHU: Multiplier = 2000) - Full Rate - 5,992/lot - 4,794/lot
Spread Rate - 1,798/spread - 1,438/spread
China Unicom Ltd (CHA: Multiplier = 754) - Full Rate - 2,259/lot - 1,807/lot
Spread Rate - 678/spread - 542/spread
CITIC Pacific Ltd - Full Rate - 7,638/lot - 6,110/lot
Spread Rate - 2,291/spread - 1,833/spread
Cheung Kong (Holdings) Ltd - Full Rate - 16,366/lot - 13,092/lot
Spread Rate - 4,910/spread - 3,928/spread
Cheung Kong Infrastructure Holdings Ltd - Full Rate - 4,778/lot - 3,823/lot
Spread Rate - 1,433/spread - 1,147/spread
China Life Insurance Company Ltd - Full Rate - 8,011/lot - 6,409/lot
Spread Rate - 2,403/spread - 1,923/spread
CLP Holdings Ltd - Full Rate - 4,031/lot - 3,224/lot
Spread Rate - 1,209/spread - 967/spread
China Merchants Bank Co Ltd - Full Rate - 2,749/lot - 2,199/lot
Spread Rate - 825/spread - 660/spread
CNOOC Ltd - Full Rate - 2,322/lot - 1,858/lot
Spread Rate - 697/spread - 557/spread
Cathay Pacific Airways Ltd - Full Rate - 1,932/lot - 1,546/lot
Spread Rate - 580/spread - 464/spread
China Petroleum & Chemical Corporation - Full Rate - 2,830/lot - 2,264/lot
Spread Rate - 849/spread - 679/spread
China Telecom Corporation Ltd - Full Rate - 1,605/lot - 1,284/lot
Spread Rate - 482/spread - 385/spread
Denway Motors Ltd - Full Rate - 1,102/lot - 882/lot
Spread Rate - 331/spread - 265/spread
Esprit Holdings Ltd - Full Rate - 1,269/lot - 1,015/lot
Spread Rate - 381/spread - 305/spread
Foxconn International Holdings Ltd - Full Rate - 1,572/lot - 1,257/lot
Spread Rate - 472/spread - 377/spread
Hongkong Electric Holdings Ltd - Full Rate - 2,584/lot - 2,068/lot
Spread Rate - 775/spread - 620/spread
Hong Kong Exchanges and Clearing Ltd (HEX: Multiplier = 100) - Full Rate - 2,110/lot - 1,688/lot
Spread Rate - 633/spread - 506/spread
Hong Kong Exchanges and Clearing Ltd (HEA: Multiplier = 500) - Full Rate - 10,550/lot - 8,440/lot
Spread Rate - 3,165/spread - 2,530/spread
HSBC Holdings Plc - Full Rate - 8,195/lot - 6,556/lot
Spread Rate - 2,459/spread - 1,967/spread
Hong Kong and China Gas Co Ltd (HKG: Multiplier = 1,000) - Full Rate - 2,090/lot - 1,672/lot
Spread Rate - 627/spread - 502/spread
Hong Kong and China Gas Co Ltd (HKA: Multiplier = 1,100) - Full Rate - 2,299/lot - 1,839/lot
Spread Rate - 690/spread - 552/spread
Henderson Land Development Co Ltd - Full Rate - 7,485/lot - 5,988/lot
Spread Rate - 2,246/spread - 1,796/spread
Huaneng Power International Inc - Full Rate - 1,874/lot - 1,499/lot
Spread Rate - 562/spread - 450/spread
Hang Seng Bank Ltd - Full Rate - 2,720/lot - 2,176/lot
Spread Rate - 816/spread - 653/spread
Hutchison Whampoa Ltd - Full Rate - 12,234/lot - 9,787/lot
Spread Rate - 3,670/spread - 2,936/spread
Industrial and Commercial Bank of China Ltd - Full Rate - 1,080/lot - 864/lot
Spread Rate - 324/spread - 259/spread
Johnson Electric Holdings Ltd - Full Rate - 246/lot - 197/lot
Spread Rate - 74/spread - 59/spread
Li & Fung Ltd - Full Rate - 8,834/lot - 7,067/lot
Spread Rate - 2,650/spread - 2,120/spread
MTR Corporation Ltd - Full Rate - 1,579/lot - 1,263/lot
Spread Rate - 474/spread - 379/spread
New World Development Co Ltd - Full Rate - 1,824/lot - 1,459/lot
Spread Rate - 547/spread - 438/spread
Ping An Insurance (Group) Co of China Ltd - Full Rate - 7,050/lot - 5,640/lot
Spread Rate - 2,115/spread - 1,692/spread
PCCW Ltd - Full Rate - 808/lot - 646/lot
Spread Rate - 242/spread - 194/spread
PetroChina Company Ltd - Full Rate - 3,604/lot - 2,883/lot
Spread Rate - 1,081/spread - 865/spread
PICC Property and Casualty Co Ltd - Full Rate - 1,992/lot - 1,594/lot
Spread Rate - 598/spread - 478/spread
Sun Hung Kai Properties Ltd - Full Rate - 16,589/lot - 13,271/lot
Spread Rate - 4,977/spread - 3,981/spread
Swire Pacific Ltd "A" - Full Rate - 5,538/lot - 4,431/lot
Spread Rate - 1,661/spread - 1,329/spread
The Wharf (Holdings) Ltd - Full Rate - 4,392/lot - 3,514/lot
Spread Rate - 1,318/spread - 1,054/spread
HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances. -- www.hkex.com.hk
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