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HKEx Announces Marketing Initiatives For H-shares Index Futures

Date 04/11/2003

Hong Kong Exchanges and Clearing Limited (HKEx) has developed two marketing initiatives for its H-shares Index Futures contract that will be introduced for trading on Monday, 8 December 2003.

Incentive Programme - To encourage early individual investor participation in the market, a $50 supermarket gift coupon will be awarded to the buyers and/or sellers of each of the first 800 H-shares Index Futures contracts traded through Futures Exchange Participants' client accounts, excluding Block Trades and Average Price Trades.

Reward Programme - To encourage Futures Exchange Participants to promote the new product, Participants will receive $2.5 for each H-shares Index Futures contract traded via their client accounts between 8 December 2003 and 7 March 2004.

In addition to the marketing initiatives, the Securities and Futures Commission (SFC) will waive the SFC Levy from 8 December 2003 to 7 June 2004 to support the development of the H-shares Index Futures market. The SFC Levy per H-shares Index Futures contract per side is $1.