The new contract will raise the total number of HKFE stock futures contracts to 18.
The multiplier for the PCCW Futures contract will be 5,000 and the initial contract months available for trading will be August 2000, September 2000, December 2000 and March 2001.
The commission rate for PCCW Futures will be negotiable and the minimum margins to be collected by an Exchange Participant from its clients in respect to their dealings in the new futures contract will be as follows:
Initial Margin, Full Rates: $12,000 per lot; Initial Margin, Spread Rates: $1,800/lot/side; Maintenance Margin, Full Rates: $9,600 per lot; Maintenance Margin, Spread Rates: $1,440/lot/side.
The Exchange emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances.
