HKFE Revises Margins For PSI Futures And Selected Stock Futures

Hong Kong Futures Exchange (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announced today (Friday) that with effect from the commencement of trading on Monday, 2 April 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 the result of a regular review of market conditions and are based on the clearing company's standard margining methodology (Amounts in brackets are the original margin rates).

Hang Seng Properties Sub-index Futures, Initial Margin, Full Rates: $100,000 ($87,500) per lot. Initial Margin, Spread Rates: $3,750 ($3,750)/ lot / side, Maintenance Margin, Full Rates: $80,000 ($70,000) per lot, Maintenance Margin, Spread Rates: $3,000 ($3,000) / lot / side.

Henderson Land Development Co Ltd Futures, Initial Margin, Full Rates: $30,000 ($24,000) per lot, Initial Margin, Spread Rates: $4,500 ($3,600)/ lot / side, Maintenance Margin, Full Rates: $24,000 ($19,200) per lot, Maintenance Margin, Spread Rates: $3,600 ($2,880)/ lot / side.

The Wharf (Holdings) Ltd Futures, Initial Margin, Full Rates: $17,000 ($11,000) per lot, Initial Margin, Spread Rates: $2,550 ($1,750)/ lot / side, Maintenance Margin, Spread Rates: $13,600 ($8,800) per lot, Maintenance Margin, Spread Rates: $2,040 ($1,400)/ lot / side.

Hopewell Holdings Ltd Futures, Initial Margin, Full Rates: $1,000 ($800) per lot, Initial Margin, Spread Rates: $150 ($120)/ lot / side, Maintenance Margin, Full Rates: $800 ($640) per lot, Maintenance Margin, Spread Rates: $120 ($96)/ lot / side.

New World Development Ltd Futures, Initial Margin, Full Rates: $12,000 ($9,750) per lot, Initial Margin, Spread Rates: $1,800 ($1,465)/ lot / side, Maintenance Margin, Full Rates: $9,600 ($7,800) per lot, Maintenance Margin, Spread Rates: $1,440 ($1,172)/ lot / side.

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