HKFE Announces Margin Rates For CES 120 Futures

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced margin rates for the CES China 120 Index Futures (CES 120 Futures) that will begin trading in its derivatives market on Monday, 12 August 2013.

The table below shows the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the contract. The margins are based on the clearing company’s normal procedures and standard margining methodology.

Futures Contract	Margin Rate	Initial Margin (HK$)		Maintenance Margin (HK$)

CES China 120 Index Futures	Full Rate	12,000	/lot	9,600	/lot
CES China 120 Index Futures	Spread Rate	3,600	/spread	2,880	/spread

HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients’ individual circumstances.

For additional information on CES 120 Futures, please see the 24 July 2013 news release, "HKEx to Introduce CES 120 Futures on 12 August", in the news release section of the HKEx website.