Hong Kong Futures Exchange Margin Rates Set For H-shares Index Futures

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, has set margin rates for the H-shares Index Futures contract, which will be introduced on Monday, 8 December 2003.

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:

Futures Contract	Margin Rate	Initial Margin (HK$)	Maintenance Margin (HK$)
H-shares Index Futures	Full Rate	16,100 per lot	12,880 per lot
	Spread Rate	2,415 /lot/side	1,932 /lot/side

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