Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangementsbelow, following its news release dated 17 September 2012.
HSI, MHI, HHI and MCH Futures Markets
The margin levels of Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI) and Mini H-shares Index (MCH) futures contracts will be temporarily increased after the close of business on 27 September 2012 (Thursday) as outlined in the table below:
|
Futures Contract |
Full Margin Rate |
Initial Margin |
Maintenance Margin |
||
|
HSI |
Current Level |
63,200 |
per lot |
50,550 |
per lot |
|
Temporarily Increased Level |
65,300 |
per lot |
52,200 |
per lot |
|
|
|
|
|
|
||
|
MHI |
Current Level |
12,640 |
per lot |
10,110 |
per lot |
|
Temporarily Increased Level |
13,060 |
per lot |
10,440 |
per lot |
|
|
|
|
|
|
||
|
HHI |
Current Level |
30,750 |
per lot |
24,600 |
per lot |
|
Temporarily Increased Level |
35,600 |
per lot |
28,500 |
per lot |
|
|
|
|
|
|
||
|
MCH |
Current Level |
6,150 |
per lot |
4,920 |
per lot |
|
Temporarily Increased Level |
7,120 |
per lot |
5,700 |
per lot |
|
The spread margin rates will remain unchanged during this period. The margin levels of HSI, MHI, HHI and MCH futures contracts will be restored to the current levels after the close of business on 28 September 2012.
Stock Options Market
The margin intervals for all options classes will be increased temporarily after the close of business on 27 September 2012 (see Appendix). The margin intervals will be restored to normal after the close of business on 28 September 2012.
The above arrangements are based on the clearing houses’ normal procedures. Exchange Participants have been advised to give advance notice to their clients regarding the arrangements where appropriate.
Appendix
|
Stock Options Classes |
Client Margin |
Temporary Client Margin Intervals |
|
iShares FTSE A50 China Index ETF |
6 |
7 |
|
Agricultural Bank of China Limited |
8 |
10 |
|
Anhui Conch Cement Company Limited |
11 |
14 |
|
AIA Group Limited |
8 |
9 |
|
Aluminum Corporation of China Limited |
11 |
14 |
|
Bank of China Limited |
6 |
7 |
|
Bank of Communications Co., Ltd. |
9 |
9 |
|
The Bank of East Asia, Limited |
7 |
8 |
|
Belle International Holdings Limited |
10 |
13 |
|
BOC Hong Kong (Holdings) Limited |
5 |
6 |
|
BYD Company Limited |
11 |
14 |
|
China Construction Bank Corporation |
7 |
8 |
|
China Communications Construction Company Limited |
11 |
14 |
|
China Coal Energy Company Limited |
12 |
15 |
|
China COSCO Holdings Company Limited |
14 |
15 |
|
China Mobile Limited |
6 |
8 |
|
China Unicom (Hong Kong) Limited |
10 |
13 |
|
CITIC Pacific Limited |
10 |
13 |
|
Cheung Kong (Holdings) Limited |
7 |
8 |
|
China Life Insurance Company Limited |
8 |
9 |
|
CLP Holdings Limited |
5 |
5 |
|
China Merchants Bank Co., Ltd. |
7 |
9 |
|
CNOOC Limited |
8 |
11 |
|
China Overseas Land & Investment Limited |
8 |
9 |
|
Cathay Pacific Airways Limited |
6 |
7 |
|
China Petroleum & Chemical Corporation |
7 |
8 |
|
China Pacific Insurance (Group) Co., Ltd. |
8 |
10 |
|
China Railway Construction Corporation Limited |
12 |
14 |
|
China Railway Group Limited |
10 |
13 |
|
W.I.S.E. - CSI 300 China Tracker |
6 |
8 |
|
China Shenhua Energy Company Limited |
9 |
12 |
|
China CITIC Bank Corporation Limited |
8 |
10 |
|
China Telecom Corporation Limited |
10 |
14 |
|
Esprit Holdings Limited |
16 |
19 |
|
Foxconn International Holdings Limited |
13 |
17 |
|
Galaxy Entertainment Group Limited |
11 |
14 |
|
Power Assets Holdings Limited |
5 |
6 |
|
Hong Kong Exchanges and Clearing Limited |
9 |
12 |
|
HSBC Holdings Plc. |
6 |
7 |
|
The Hong Kong and China Gas Company Limited |
5 |
5 |
|
Henderson Land Development Company Limited |
8 |
10 |
|
Huaneng Power International, Inc. |
9 |
11 |
|
Hang Seng Bank Limited |
5 |
5 |
|
Hutchison Whampoa Limited |
6 |
8 |
|
Industrial and Commercial Bank of China Ltd. |
8 |
9 |
|
Jiangxi Copper Company Limited |
11 |
14 |
|
Li & Fung Limited |
13 |
17 |
|
MTR Corporation Limited |
5 |
5 |
|
China National Building Material Company Limited |
11 |
14 |
|
New World Development Company Limited |
8 |
10 |
|
Ping An Insurance (Group) Company of China, Limited |
7 |
8 |
|
PetroChina Company Limited |
6 |
8 |
|
PICC Property and Casualty Company Limited |
9 |
11 |
|
Guangzhou R&F Properties Co., Ltd. |
11 |
13 |
|
Sands China Limited |
12 |
16 |
|
Sun Hung Kai Properties Limited |
7 |
8 |
|
Standard Chartered PLC |
10 |
13 |
|
Swire Pacific Limited 'A' |
6 |
6 |
|
Tencent Holdings Limited |
7 |
9 |
|
Tracker Fund of Hong Kong |
5 |
6 |
|
The Wharf (Holdings) Limited |
8 |
10 |
|
Yanzhou Coal Mining Company Limited |
13 |
16 |
|
Zijin Mining Group Company Limited |
14 |
16 |
