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Hong Kong Exchanges and Clearing Limited (HKEx) has announced the details of the holiday risk management arrangements below, following its news release dated 22 March 2010.
HSI, MHI, HHI and MCH Futures Markets
The margin levels of Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI) and Mini H-shares Index (MCH) futures contracts will be temporarily increased after the close of business on 31 March 2010 (Wednesday) as outlined in the table below.
|
Futures Contract |
Full Margin Rate# |
Initial Margin |
Maintenance Margin |
|
|
|
|
|
|
HSI |
Current Level |
65,400 per lot |
52,350 per lot |
|
|
|
|
|
|
MHI |
Current Level |
13,080 per lot |
10,470 per lot |
|
|
|
|
|
|
HHI |
Current Level |
42,300 per lot |
33,850 per lot |
|
|
|
|
|
|
MCH |
Current Level |
8,460 per lot |
6,770 per lot |
# The spread margin rates will remain unchanged during this period. The margin levels of HSI, MHI, HHI and MCH futures contracts will be restored to the current levels after the close of business on 1 April 2010.
* Refers to HKEx news release on 26 March.
Stock Options Market
The margin intervals for all options classes will be increased temporarily after the close of business on 31 March 2010 (see Appendix). The margin intervals will be restored to normal after the close of business on 1 April 2010.
The above arrangements are based on the clearing houses’ normal procedures. Exchange Participants have been advised to give advanced notice to their clients regarding the arrangements where appropriate.
Appendix
|
Stock Options Classes |
Temporary Client Margin Intervals (%) |
|
Aluminum Corporation of China Limited |
17 |
|
Bank of China Limited |
12 |
|
Bank of Communications Co., Ltd. |
13 |
|
The Bank of East Asia, Limited |
8 |
|
BOC Hong Kong (Holdings) Limited |
9 |
|
BYD Company Limited |
19 |
|
China Construction Bank Corporation |
10 |
|
China Communications Construction Company Limited |
10 |
|
China Coal Energy Company Limited |
18 |
|
China COSCO Holdings Company Limited |
14 |
|
China Mobile Limited |
8 |
|
China Unicom (Hong Kong) Limited |
15 |
|
CITIC Pacific Limited |
17 |
|
Cheung Kong (Holdings) Limited |
8 |
|
China Life Insurance Company Limited |
11 |
|
CLP Holdings Limited |
5 |
|
China Merchants Bank Co., Ltd. |
14 |
|
CNOOC Limited |
12 |
|
China Overseas Land & Investment Limited |
14 |
|
Cathay Pacific Airways Limited |
11 |
|
China Petroleum & Chemical Corporation |
9 |
|
China Railway Construction Corporation Limited |
10 |
|
China Railway Group Limited |
11 |
|
China Shenhua Energy Company Limited |
13 |
|
China CITIC Bank Corporation Limited |
16 |
|
China Telecom Corporation Limited |
12 |
|
Esprit Holdings Limited |
14 |
|
Foxconn International Holdings Limited |
22 |
|
Hongkong Electric Holdings Limited |
5 |
|
Hong Kong Exchanges and Clearing Limited |
10 |
|
HSBC Holdings Plc. |
10 |
|
The Hong Kong and China Gas Company Limited |
9 |
|
Henderson Land Development Company Limited |
14 |
|
Huaneng Power International, Inc. |
10 |
|
Hang Seng Bank Limited |
7 |
|
Hutchison Whampoa Limited |
9 |
|
Industrial and Commercial Bank of China Limited |
11 |
|
Jiangxi Copper Company Limited |
14 |
|
Li & Fung Limited |
15 |
|
MTR Corporation Limited |
7 |
|
New World Development Company Limited |
12 |
|
Ping An Insurance (Group) Company of China, Ltd. |
13 |
|
PetroChina Company Limited |
11 |
|
PICC Property and Casualty Company Limited |
16 |
|
Guangzhou R&F Properties Co., Ltd. |
16 |
|
Sun Hung Kai Properties Limited |
11 |
|
Swire Pacific Limited 'A' |
11 |
|
Tencent Holdings Limited |
16 |
|
Tracker Fund of Hong Kong |
8 |
|
The Wharf (Holdings) Limited |
12 |
|
Zijin Mining Group Company Limited |
15 |
