Margins Rates Set For China Petroleum & Chemical Corporation, CNOOC Limited And Huaneng Power International, Inc Futures Contracts

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has set margin rates for China Petroleum & Chemical Corporation (Sinopec), CNOOC Limited and Huaneng Power International, Inc futures contracts, which will be introduced on Monday, 22 July 2002.

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$)		Maintenance Margin (HK$)

China Petroleum & Chemical Corporation (Sinopec)	Full Rate	200 per lot	160 per lot
	Spread Rate	30/lot/side	24/lot/side

CNOOC Limited	Full Rate	440 per lot	352 per lot
	Spread Rate	65/lot/side	52/lot/side

Huaneng Power International, Inc	Full Rate	1,100 per lot	880 per lot
	Spread Rate	165/lot/side	132/lot/side

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