Hong Kong Futures Exchange Limited Sets Margin Rates For Bank Of East Asia And Legend Futures Contracts

Hong Kong Futures Exchange Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, has set margin rates for The Bank of East Asia Limited (BEA) Futures contract and Legend Holdings Limited (LEH) Futures contract. Both contracts will be introduced on Monday, 8 January 2001.

The minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the two contracts are:

The Bank of East Asia Limited Futures: Full Rate, Initial Margin: $1,700 per lot; Spread Rates, Initial Margin: $255 per lot, per side. Full Rate, Maintenance Margin: $1,360 per lot; Spread Rates, Maintenance Margin: $204 per lot, per side.

Legend Holdings Limited Futures: Full Rate, Initial Margin: $12,000 per lot; Spread Rates, Initial Margin: $1,800 per lot, per side. Full Rate, Maintenance Margin: $9,600 per lot; Spread Rates, Maintenance Margin: $1,440 per lot, per side.

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