Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Thursday, 1 September 2011, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.
For the current margins, please refer to the margin information on the HKEx website.
|
Futures Contract |
Margin Rate |
Initial Margin |
Maintenance Margin |
||
|
|
|
|
|
||
|
Hang Seng Index |
Full Rate |
83,500 |
/lot |
66,800 |
/lot |
|
Spread Rate |
7,500 |
/spread |
6,000 |
/spread |
|
|
|
|
|
|
|
|
|
Mini-Hang Seng Index |
Full Rate |
16,700 |
/lot |
13,360 |
/lot |
|
Spread Rate |
1,500 |
/spread |
1,200 |
/spread |
|
|
|
|
|
|
|
|
|
H-shares Index |
Full Rate |
55,500 |
/lot |
44,400 |
/lot |
|
Spread Rate |
16,650 |
/spread |
13,350 |
/spread |
|
|
|
|
|
|
|
|
|
Mini H-shares Index |
Full Rate |
11,100 |
/lot |
8,880 |
/lot |
|
Spread Rate |
3,330 |
/spread |
2,670 |
/spread |
|
|
|
|
|
|
|
|
|
HSCEI Dividend Point Index |
Full Rate |
1,690 |
/lot |
1,350 |
/lot |
|
Spread Rate |
2,030 |
/spread |
1,620 |
/spread |
|
|
|
|
|
|
|
|
|
HSI Dividend Point Index |
Full Rate |
3,560 |
/lot |
2,850 |
/lot |
|
Spread Rate |
4,280 |
/spread |
3,420 |
/spread |
|
|
|
|
|
|
|
|
|
Three-Year EFN |
Full Rate |
10,740 |
/lot |
8,600 |
/lot |
|
Spread Rate |
3,230 |
/spread |
2,580 |
/spread |
|
|
|
|
|
|
|
|
|
One-Month HIBOR |
Full Rate |
873 |
/lot |
698 |
/lot |
|
Spread Rate |
Please refer to attached table |
||||
|
|
|
|
|
|
|
|
Three-Month HIBOR |
Full Rate |
938 |
/lot |
751 |
/lot |
| Spread Rate |
Please refer to attached table |
||||
|
|
|
|
|
|
|
|
Aluminum Corporation of China Ltd |
Full Rate |
1,650 |
/lot |
1,320 |
/lot |
|
Spread Rate |
495 |
/spread |
396 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of China Limited |
Full Rate |
334 |
/lot |
267 |
/lot |
|
Spread Rate |
101 |
/spread |
81 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of Communications Co., Ltd. |
Full Rate |
634 |
/lot |
507 |
/lot |
|
Spread Rate |
191 |
/spread |
153 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of Communications Co., Ltd. |
Full Rate |
697 |
/lot |
558 |
/lot |
|
Spread Rate |
210 |
/spread |
168 |
/spread |
|
|
|
|
|
|
|
|
|
The Bank of East Asia Ltd |
Full Rate |
486 |
/lot |
389 |
/lot |
|
Spread Rate |
146 |
/spread |
117 |
/spread |
|
|
|
|
|
|
|
|
|
BOC Hong Kong (Holdings) Ltd |
Full Rate |
1,060 |
/lot |
845 |
/lot |
|
Spread Rate |
318 |
/spread |
254 |
/spread |
|
|
|
|
|
|
|
|
|
China Construction Bank Corporation |
Full Rate |
588 |
/lot |
471 |
/lot |
|
Spread Rate |
177 |
/spread |
142 |
/spread |
|
|
|
|
|
|
|
|
|
China Communications Construction Co Ltd |
Full Rate |
741 |
/lot |
593 |
/lot |
|
Spread Rate |
223 |
/spread |
178 |
/spread |
|
|
|
|
|
|
|
|
|
China Mobile Ltd |
Full Rate |
3,080 |
/lot |
2,460 |
/lot |
|
Spread Rate |
924 |
/spread |
738 |
/spread |
|
|
|
|
|
|
|
|
|
China Unicom (Hong Kong) Ltd |
Full Rate |
3,350 |
/lot |
2,680 |
/lot |
|
Spread Rate |
1,010 |
/spread |
804 |
/spread |
|
|
|
|
|
|
|
|
|
CITIC Pacific Ltd |
Full Rate |
2,100 |
/lot |
1,680 |
/lot |
|
Spread Rate |
630 |
/spread |
504 |
/spread |
|
|
|
|
|
|
|
|
|
Cheung Kong (Holdings) Ltd |
Full Rate |
9,190 |
/lot |
7,350 |
/lot |
|
Spread Rate |
2,760 |
/spread |
2,210 |
/spread |
|
|
|
|
|
|
|
|
|
China Life Insurance Company Ltd |
Full Rate |
4,190 |
/lot |
3,360 |
/lot |
|
Spread Rate |
1,260 |
/spread |
1,010 |
/spread |
|
|
|
|
|
|
|
|
|
CLP Holdings Ltd |
Full Rate |
2,190 |
/lot |
1,760 |
/lot |
|
Spread Rate |
657 |
/spread |
528 |
/spread |
|
|
|
|
|
|
|
|
|
China Merchants Bank Co Ltd |
Full Rate |
903 |
/lot |
723 |
/lot |
|
Spread Rate |
271 |
/spread |
217 |
/spread |
|
|
|
|
|
|
|
|
|
CNOOC Ltd |
Full Rate |
1,970 |
/lot |
1,570 |
/lot |
|
Spread Rate |
591 |
/spread |
471 |
/spread |
|
|
|
|
|
|
|
|
|
Cathay Pacific Airways Ltd |
Full Rate |
1,390 |
/lot |
1,110 |
/lot |
|
Spread Rate |
417 |
/spread |
333 |
/spread |
|
|
|
|
|
|
|
|
|
China Petroleum & Chemical Corporation |
Full Rate |
1,470 |
/lot |
1,170 |
/lot |
|
Spread Rate |
441 |
/spread |
351 |
/spread |
|
|
|
|
|
|
|
|
|
China Telecom Corporation Ltd |
Full Rate |
884 |
/lot |
707 |
/lot |
|
Spread Rate |
266 |
/spread |
213 |
/spread |
|
|
|
|
|
|
|
|
|
Esprit Holdings Ltd |
Full Rate |
308 |
/lot |
246 |
/lot |
|
Spread Rate |
93 |
/spread |
74 |
/spread |
|
|
|
|
|
|
|
|
|
Foxconn International Holdings Ltd |
Full Rate |
620 |
/lot |
496 |
/lot |
|
Spread Rate |
186 |
/spread |
149 |
/spread |
|
|
|
|
|
|
|
|
|
Power Assets Holdings Ltd |
Full Rate |
2,420 |
/lot |
1,940 |
/lot |
|
Spread Rate |
726 |
/spread |
582 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong Exchanges and Clearing Ltd |
Full Rate |
1,370 |
/lot |
1,090 |
/lot |
|
Spread Rate |
411 |
/spread |
327 |
/spread |
|
|
|
|
|
|
|
|
|
HSBC Holdings Plc |
Full Rate |
2,910 |
/lot |
2,330 |
/lot |
|
Spread Rate |
873 |
/spread |
699 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong and China Gas Co Ltd |
Full Rate |
1,270 |
/lot |
1,020 |
/lot |
|
Spread Rate |
381 |
/spread |
306 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong and China Gas Co Ltd |
Full Rate |
1,397 |
/lot |
1,122 |
/lot |
|
Spread Rate |
419 |
/spread |
337 |
/spread |
|
|
|
|
|
|
|
|
|
Henderson Land Development Co Ltd |
Full Rate |
4,020 |
/lot |
3,220 |
/lot |
|
Spread Rate |
1,210 |
/spread |
966 |
/spread |
|
|
|
|
|
|
|
|
|
Huaneng Power International Inc |
Full Rate |
544 |
/lot |
435 |
/lot |
|
Spread Rate |
164 |
/spread |
131 |
/spread |
|
|
|
|
|
|
|
|
|
Hang Seng Bank Ltd |
Full Rate |
688 |
/lot |
550 |
/lot |
|
Spread Rate |
207 |
/spread |
165 |
/spread |
|
|
|
|
|
|
|
|
|
Hutchison Whampoa Ltd |
Full Rate |
8,350 |
/lot |
6,680 |
/lot |
|
Spread Rate |
2,510 |
/spread |
2,010 |
/spread |
|
|
|
|
|
|
|
|
|
Industrial and Commercial Bank of China Ltd |
Full Rate |
569 |
/lot |
456 |
/lot |
|
Spread Rate |
171 |
/spread |
137 |
/spread |
|
|
|
|
|
|
|
|
|
Li & Fung Ltd |
Full Rate |
4,230 |
/lot |
3,380 |
/lot |
|
Spread Rate |
1,270 |
/spread |
1,020 |
/spread |
|
|
|
|
|
|
|
|
|
Li & Fung Ltd |
Full Rate |
8,460 |
/lot |
6,760 |
/lot |
|
Spread Rate |
2,540 |
/spread |
2,040 |
/spread |
|
|
|
|
|
|
|
|
|
MTR Corporation Ltd |
Full Rate |
984 |
/lot |
787 |
/lot |
|
Spread Rate |
296 |
/spread |
237 |
/spread |
|
|
|
|
|
|
|
|
|
New World Development Co Ltd |
Full Rate |
1,130 |
/lot |
901 |
/lot |
|
Spread Rate |
339 |
/spread |
271 |
/spread |
|
|
|
|
|
|
|
|
|
Ping An Insurance (Group) Co of China Ltd |
Full Rate |
4,100 |
/lot |
3,280 |
/lot |
|
Spread Rate |
1,230 |
/spread |
984 |
/spread |
|
|
|
|
|
|
|
|
|
PetroChina Company Ltd
|
Full Rate |
2,220 |
/lot |
1,770 |
/lot |
|
Spread Rate |
666 |
/spread |
531 |
/spread |
|
|
|
|
|
|
|
|
|
PICC Property and Casualty Co Ltd |
Full Rate |
4,020 |
/lot |
3,210 |
/lot |
|
Spread Rate |
1,210 |
/spread |
963 |
/spread |
|
|
|
|
|
|
|
|
|
Sun Hung Kai Properties Ltd |
Full Rate |
8,090 |
/lot |
6,470 |
/lot |
|
Spread Rate |
2,430 |
/spread |
1,950 |
/spread |
|
|
|
|
|
|
|
|
|
Swire Pacific Ltd “A” |
Full Rate |
3,820 |
/lot |
3,060 |
/lot |
|
Spread Rate |
1,150 |
/spread |
918 |
/spread |
|
|
|
|
|
|
|
|
|
Wharf (Holdings) Ltd |
Full Rate |
4,450 |
/lot |
3,560 |
/lot |
|
Spread Rate |
1,340 |
/spread |
1,070 |
/spread |
|
|
|
|
|
|
|
|
|
Wharf (Holdings) Ltd |
Full Rate |
4,589 |
/lot |
3,671 |
/lot |
|
Spread Rate |
1,382 |
/spread |
1,103 |
/spread |
|
|
Futures Contract |
Margin Rate |
Initial Margin |
Maintenance Margin |
||
|
|
|
|
|
||
|
Gold Futures |
Full Rate |
10,760 |
/lot |
8,610 |
/lot |
|
Spread Rate |
3,230 |
/spread |
2,590 |
/spread |
|
Spread Margin Rates
for Three-Month HIBOR Futures
|
Spread Combination |
Initial Margin |
Maintenance Margin |
|
1st month vs 6th month |
1,610 |
1,290 |
|
3rd month vs 6th month |
1,490 |
1,200 |
|
1st month vs 3rd month |
1,240 |
989 |
|
3rd month vs 4th month |
1,110 |
884 |
|
|
|
|
|
6th month vs 7th month |
360 |
288 |
Spread Margin Rates
for One-Month HIBOR Futures
|
Spread Combination |
Initial Margin |
Maintenance Margin |
|
1st month vs 4th month |
1,020 |
813 |
|
1st month vs 2nd month
|
897 |
718 |
|
2nd month vs 4th month
|
495 |
396 |
|
2nd month vs 3rd month
|
410 |
328 |
|
4th month vs 5th month
|
262 |
210 |
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Thursday, 1 September 2011, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.
For the current margins, please refer to the margin information on the HKEx website.
|
Futures Contract |
Margin Rate |
Initial Margin |
Maintenance Margin |
||
|
|
|
|
|
||
|
Hang Seng Index |
Full Rate |
83,500 |
/lot |
66,800 |
/lot |
|
Spread Rate |
7,500 |
/spread |
6,000 |
/spread |
|
|
|
|
|
|
|
|
|
Mini-Hang Seng Index |
Full Rate |
16,700 |
/lot |
13,360 |
/lot |
|
Spread Rate |
1,500 |
/spread |
1,200 |
/spread |
|
|
|
|
|
|
|
|
|
H-shares Index |
Full Rate |
55,500 |
/lot |
44,400 |
/lot |
|
Spread Rate |
16,650 |
/spread |
13,350 |
/spread |
|
|
|
|
|
|
|
|
|
Mini H-shares Index |
Full Rate |
11,100 |
/lot |
8,880 |
/lot |
|
Spread Rate |
3,330 |
/spread |
2,670 |
/spread |
|
|
|
|
|
|
|
|
|
HSCEI Dividend Point Index |
Full Rate |
1,690 |
/lot |
1,350 |
/lot |
|
Spread Rate |
2,030 |
/spread |
1,620 |
/spread |
|
|
|
|
|
|
|
|
|
HSI Dividend Point Index |
Full Rate |
3,560 |
/lot |
2,850 |
/lot |
|
Spread Rate |
4,280 |
/spread |
3,420 |
/spread |
|
|
|
|
|
|
|
|
|
Three-Year EFN |
Full Rate |
10,740 |
/lot |
8,600 |
/lot |
|
Spread Rate |
3,230 |
/spread |
2,580 |
/spread |
|
|
|
|
|
|
|
|
|
One-Month HIBOR |
Full Rate |
873 |
/lot |
698 |
/lot |
|
Spread Rate |
Please refer to attached table |
||||
|
|
|
|
|
|
|
|
Three-Month HIBOR |
Full Rate |
938 |
/lot |
751 |
/lot |
| Spread Rate |
Please refer to attached table |
||||
|
|
|
|
|
|
|
|
Aluminum Corporation of China Ltd |
Full Rate |
1,650 |
/lot |
1,320 |
/lot |
|
Spread Rate |
495 |
/spread |
396 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of China Limited |
Full Rate |
334 |
/lot |
267 |
/lot |
|
Spread Rate |
101 |
/spread |
81 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of Communications Co., Ltd. |
Full Rate |
634 |
/lot |
507 |
/lot |
|
Spread Rate |
191 |
/spread |
153 |
/spread |
|
|
|
|
|
|
|
|
|
Bank of Communications Co., Ltd. |
Full Rate |
697 |
/lot |
558 |
/lot |
|
Spread Rate |
210 |
/spread |
168 |
/spread |
|
|
|
|
|
|
|
|
|
The Bank of East Asia Ltd |
Full Rate |
486 |
/lot |
389 |
/lot |
|
Spread Rate |
146 |
/spread |
117 |
/spread |
|
|
|
|
|
|
|
|
|
BOC Hong Kong (Holdings) Ltd |
Full Rate |
1,060 |
/lot |
845 |
/lot |
|
Spread Rate |
318 |
/spread |
254 |
/spread |
|
|
|
|
|
|
|
|
|
China Construction Bank Corporation |
Full Rate |
588 |
/lot |
471 |
/lot |
|
Spread Rate |
177 |
/spread |
142 |
/spread |
|
|
|
|
|
|
|
|
|
China Communications Construction Co Ltd |
Full Rate |
741 |
/lot |
593 |
/lot |
|
Spread Rate |
223 |
/spread |
178 |
/spread |
|
|
|
|
|
|
|
|
|
China Mobile Ltd |
Full Rate |
3,080 |
/lot |
2,460 |
/lot |
|
Spread Rate |
924 |
/spread |
738 |
/spread |
|
|
|
|
|
|
|
|
|
China Unicom (Hong Kong) Ltd |
Full Rate |
3,350 |
/lot |
2,680 |
/lot |
|
Spread Rate |
1,010 |
/spread |
804 |
/spread |
|
|
|
|
|
|
|
|
|
CITIC Pacific Ltd |
Full Rate |
2,100 |
/lot |
1,680 |
/lot |
|
Spread Rate |
630 |
/spread |
504 |
/spread |
|
|
|
|
|
|
|
|
|
Cheung Kong (Holdings) Ltd |
Full Rate |
9,190 |
/lot |
7,350 |
/lot |
|
Spread Rate |
2,760 |
/spread |
2,210 |
/spread |
|
|
|
|
|
|
|
|
|
China Life Insurance Company Ltd |
Full Rate |
4,190 |
/lot |
3,360 |
/lot |
|
Spread Rate |
1,260 |
/spread |
1,010 |
/spread |
|
|
|
|
|
|
|
|
|
CLP Holdings Ltd |
Full Rate |
2,190 |
/lot |
1,760 |
/lot |
|
Spread Rate |
657 |
/spread |
528 |
/spread |
|
|
|
|
|
|
|
|
|
China Merchants Bank Co Ltd |
Full Rate |
903 |
/lot |
723 |
/lot |
|
Spread Rate |
271 |
/spread |
217 |
/spread |
|
|
|
|
|
|
|
|
|
CNOOC Ltd |
Full Rate |
1,970 |
/lot |
1,570 |
/lot |
|
Spread Rate |
591 |
/spread |
471 |
/spread |
|
|
|
|
|
|
|
|
|
Cathay Pacific Airways Ltd |
Full Rate |
1,390 |
/lot |
1,110 |
/lot |
|
Spread Rate |
417 |
/spread |
333 |
/spread |
|
|
|
|
|
|
|
|
|
China Petroleum & Chemical Corporation |
Full Rate |
1,470 |
/lot |
1,170 |
/lot |
|
Spread Rate |
441 |
/spread |
351 |
/spread |
|
|
|
|
|
|
|
|
|
China Telecom Corporation Ltd |
Full Rate |
884 |
/lot |
707 |
/lot |
|
Spread Rate |
266 |
/spread |
213 |
/spread |
|
|
|
|
|
|
|
|
|
Esprit Holdings Ltd |
Full Rate |
308 |
/lot |
246 |
/lot |
|
Spread Rate |
93 |
/spread |
74 |
/spread |
|
|
|
|
|
|
|
|
|
Foxconn International Holdings Ltd |
Full Rate |
620 |
/lot |
496 |
/lot |
|
Spread Rate |
186 |
/spread |
149 |
/spread |
|
|
|
|
|
|
|
|
|
Power Assets Holdings Ltd |
Full Rate |
2,420 |
/lot |
1,940 |
/lot |
|
Spread Rate |
726 |
/spread |
582 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong Exchanges and Clearing Ltd |
Full Rate |
1,370 |
/lot |
1,090 |
/lot |
|
Spread Rate |
411 |
/spread |
327 |
/spread |
|
|
|
|
|
|
|
|
|
HSBC Holdings Plc |
Full Rate |
2,910 |
/lot |
2,330 |
/lot |
|
Spread Rate |
873 |
/spread |
699 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong and China Gas Co Ltd |
Full Rate |
1,270 |
/lot |
1,020 |
/lot |
|
Spread Rate |
381 |
/spread |
306 |
/spread |
|
|
|
|
|
|
|
|
|
Hong Kong and China Gas Co Ltd |
Full Rate |
1,397 |
/lot |
1,122 |
/lot |
|
Spread Rate |
419 |
/spread |
337 |
/spread |
|
|
|
|
|
|
|
|
|
Henderson Land Development Co Ltd |
Full Rate |
4,020 |
/lot |
3,220 |
/lot |
|
Spread Rate |
1,210 |
/spread |
966 |
/spread |
|
|
|
|
|
|
|
|
|
Huaneng Power International Inc |
Full Rate |
544 |
/lot |
435 |
/lot |
|
Spread Rate |
164 |
/spread |
131 |
/spread |
|
|
|
|
|
|
|
|
|
Hang Seng Bank Ltd |
Full Rate |
688 |
/lot |
550 |
/lot |
|
Spread Rate |
207 |
/spread |
165 |
/spread |
|
|
|
|
|
|
|
|
|
Hutchison Whampoa Ltd |
Full Rate |
8,350 |
/lot |
6,680 |
/lot |
|
Spread Rate |
2,510 |
/spread |
2,010 |
/spread |
|
|
|
|
|
|
|
|
|
Industrial and Commercial Bank of China Ltd |
Full Rate |
569 |
/lot |
456 |
/lot |
|
Spread Rate |
171 |
/spread |
137 |
/spread |
|
|
|
|
|
|
|
|
|
Li & Fung Ltd |
Full Rate |
4,230 |
/lot |
3,380 |
/lot |
|
Spread Rate |
1,270 |
/spread |
1,020 |
/spread |
|
|
|
|
|
|
|
|
|
Li & Fung Ltd |
Full Rate |
8,460 |
/lot |
6,760 |
/lot |
|
Spread Rate |
2,540 |
/spread |
2,040 |
/spread |
|
|
|
|
|
|
|
|
|
MTR Corporation Ltd |
Full Rate |
984 |
/lot |
787 |
/lot |
|
Spread Rate |
296 |
/spread |
237 |
/spread |
|
|
|
|
|
|
|
|
|
New World Development Co Ltd |
Full Rate |
1,130 |
/lot |
901 |
/lot |
|
Spread Rate |
339 |
/spread |
271 |
/spread |
|
|
|
|
|
|
|
|
|
Ping An Insurance (Group) Co of China Ltd |
Full Rate |
4,100 |
/lot |
3,280 |
/lot |
|
Spread Rate |
1,230 |
/spread |
984 |
/spread |
|
|
|
|
|
|
|
|
|
PetroChina Company Ltd
|
Full Rate |
2,220 |
/lot |
1,770 |
/lot |
|
Spread Rate |
666 |
/spread |
531 |
/spread |
|
|
|
|
|
|
|
|
|
PICC Property and Casualty Co Ltd |
Full Rate |
4,020 |
/lot |
3,210 |
/lot |
|
Spread Rate |
1,210 |
/spread |
963 |
/spread |
|
|
|
|
|
|
|
|
|
Sun Hung Kai Properties Ltd |
Full Rate |
8,090 |
/lot |
6,470 |
/lot |
|
Spread Rate |
2,430 |
/spread |
1,950 |
/spread |
|
|
|
|
|
|
|
|
|
Swire Pacific Ltd “A” |
Full Rate |
3,820 |
/lot |
3,060 |
/lot |
|
Spread Rate |
1,150 |
/spread |
918 |
/spread |
|
|
|
|
|
|
|
|
|
Wharf (Holdings) Ltd |
Full Rate |
4,450 |
/lot |
3,560 |
/lot |
|
Spread Rate |
1,340 |
/spread |
1,070 |
/spread |
|
|
|
|
|
|
|
|
|
Wharf (Holdings) Ltd |
Full Rate |
4,589 |
/lot |
3,671 |
/lot |
|
Spread Rate |
1,382 |
/spread |
1,103 |
/spread |
|
|
Futures Contract |
Margin Rate |
Initial Margin |
Maintenance Margin |
||
|
|
|
|
|
||
|
Gold Futures |
Full Rate |
10,760 |
/lot |
8,610 |
/lot |
|
Spread Rate |
3,230 |
/spread |
2,590 |
/spread |
|
Spread Margin Rates
for Three-Month HIBOR Futures
|
Spread Combination |
Initial Margin |
Maintenance Margin |
|
1st month vs 6th month |
1,610 |
1,290 |
|
3rd month vs 6th month |
1,490 |
1,200 |
|
1st month vs 3rd month |
1,240 |
989 |
|
3rd month vs 4th month |
1,110 |
884 |
|
|
|
|
|
6th month vs 7th month |
360 |
288 |
Spread Margin Rates
for One-Month HIBOR Futures
|
Spread Combination |
Initial Margin |
Maintenance Margin |
|
1st month vs 4th month |
1,020 |
813 |
|
1st month vs 2nd month
|
897 |
718 |
|
2nd month vs 4th month
|
495 |
396 |
|
2nd month vs 3rd month
|
410 |
328 |
|
4th month vs 5th month
|
262 |
210 |
