Apply Online | Contact Us | Site Map | ? ? | ? ?
 
 
 
   
 
 
 
Futures > Hong Kong Futures > Trading Particulars
 
Trading Particulars
 


1.

 Contract Specifications for Hang Seng Index Futures

 

Underlying Index

 : Hang Seng Index
  Contract Multiplier : HK$50.00 per Index point
  Contract Month   Spot Month, the next calendar month, and the next two calendar
      quarter months (i.e. March, June, September and December)
  Contracted Price : 

The price in whole Index points at which a Hang Seng Index Futures 

      Contract is registered by the Clearing House
  Contracted Value :

Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  One Index point
  Maximum Fluctuation :

Nil
  Position Limits : 

Position delta for Hang Seng Index Futures and Hang Seng Index

      Options combined of 10,000 long or short in all contract months combined
  Large Open Positions : 500 contracts in any one contract month per client
  Last Trading Day :  The business day immediately preceding the last business day of the
      Contract Month
  Trading Hours (HK Time) : 

9:15 a.m.– 4:15 p.m.
     

08:45-09:15 (pre-market opening period)
     

09:15-12:00 (first trading session)
     

12:30-13:00 (pre-market opening period)
     

13:00-16:15 (second trading session)
  Trading Hours on Last Trading Days (HK Time) : 09:15-12:00 (first trading session)
      13:00-16:00 (second trading session)
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method :  Cash settlement
  Final Settlement Day : 

The first business day after the last trading day
  Final Settlement Price : 

The average of quotations of the Hang Seng Index taken at five-

      minute intervals during the last trading day.
  Trading Fee & Levies * :

Please refer to relevant Fees & Charges
       
  * These fees and levies are subject to change.    
       
     

Back to the top
       

2. Contract Specifications for Mini-Hang Seng Index Futures:
  Underlying Index :  Hang Seng Index
  Contract Multiplier : HK$10.00 per index point
  Contract Month : 

Spot Month, the next calendar month, and the next two

      calendar (i.e. March, June, September and December)
  Contracted Price :  The price in whole Index points at which a Mini-Hang Seng
      Index Futures Contract is registered by the Clearing House
  Contracted Value : 

Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  One Index point
  Maximum Fluctuation :  Nil
  Position Limits : 

Position delta for Mini-Hang Seng Index Futures, Hang Seng

      Index Futures and Hang Seng Index Options combined of 10,000 long
or short in all Contract Months combined provided the position delta
for Mini-Hang Seng Index Futures shall not at any time exceed 2,000
long or short in all ContractMonths combined. For this purpose, the
position delta of one Mini-Hang Seng Index Futures Contract will have
a value of 0.2
  Large Open Positions :  1,250 contracts in any one contract month per client
 

Trading Hours (HK Time)

 : Two trading sessions per day:
     

08:45-09:15 (pre-market opening period)
     

09:15-12:00 (first trading session)
     

12:30-13:00 (pre-market opening period)
     

13:00-16:15 (second trading session)
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method : Cash settlement
  Final Settlement Day : 

The first business day after the last trading day
  Final Settlement Price : 

The average of quotations of the Hang Seng Index taken at five-minute

     

intervals during the last trading day and compiled, computed and disseminated
      by HIS Services Ltd
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
       
  * These fees and levies are subject to change.    
       
     

Back to the top
       

3. Contract Specifications for H-share Index Futures:
  Underlying Index : 

Hang Seng China Enterprises Index
  Contract Multiplier :

HK$50.00 per Index point
  Contract Month :  Spot Month, the next calendar month, and the next two calendar
      quarter months (i.e. March, June, September and December)
  Contracted Price : 

The price in whole Index points at which a Hang Seng China

      Enterprises Index Futures Contract is registered by the Clearing House
  Contracted Value :  Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation : One Index point
  Maximum Fluctuation :  Nil
  Position Limits : 

6,000 net long or net short contracts, in any one Contract Month,

      per client
  Large Open Positions :

500 net long or net short contracts, in any one Contract Month,

     

per client
  Trading Hours (HK Time) : 

Two trading sessions per day:
     

08:45-09:15 (pre-market opening period)
     

09:15-12:00 (first trading session)
     

12:30-13:00 (pre-market opening period)
     

13:00-16:15 (second trading session)
  Trading Hours on Last Trading Days : 

09:15-12:00 (first trading session)
  (HK Time)  

13:30-16:00 (second trading session)
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method : Cash settlement
  Final Settlement Day :  The first business day after the last trading day
  Final Settlement Price :

The average of values of the Hang Seng China Enterprises Index

      taken at five-minute intervals during the last trading day.
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
       
 

* These fees and levies are subject to change.

    
     

Back to the top

4.

Contract Specifications for Mini-Hang Seng China Enterprises Index Futures (MCH):
  Underlying Index : 

Hang Seng China Enterprises Index
  Contract Multiplier :

HK$10.00 per Index point
  Contract Month :  Spot Month, the next calendar month, and the next two calendar
      quarter months (i.e. March, June, September and December)
  Contracted Price : 

The price in whole Index points at which a Mini-Hang Seng China

      Enterprises Index Futures Contract is registered by the Clearing House
  Contracted Value :  Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  One Index point
  Maximum Fluctuation :  Nil
  Position Limits : 

Position delta for Mini H-shares Index futures, H-shares Index futures

      and H-shares Index options combined of 12,000 long or short in all
contract months combined provided the position delta for Mini H-shares
Index futures shall not at any time exceed 2,400 long or short in all
contract months combined, per Exchange Participant for the Exchange
Participant’s own behalf and also per client. For this purpose, the position
delta of one Mini H-shares Index futures contract will have a value of 0.2.
  Large Open Positions : 

2,500 open contracts, in any one contract month, per Exchange

  Trading Hours (HK Time) :

09:15-12:00 (first trading session)
     

13:00-16:15 (second trading session)
  Trading Hours on Last Trading Days : 

09:15-12:00 (first trading session)
  (HK Time)  

13:00-16:00 (second trading session)
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method :  Cash settlement
  Final Settlement Day :  The first business day after the last trading day
  Final Settlement Price :

The average of the values of the Hang Seng China Enterprises index

      taken at five-minute intervals during the last trading day.
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
     

 
 

* These fees and levies are subject to change.

    
 

   
     

Back to the top


5.

Contract Specifications for HSI Volatility Index Futures (VHS)
  Underlying Index
 : 
 

HSI Volatility Index (the volatility index of that name compiled, computed
and disseminated by Hang Seng Indexes Company Limited)

  Contract Multiplier : 

HK$ 5,000 per index point 

  Contract Months   Spot month and the next two calendar months
  Contracted Price :

The price in 0.05 Index point at which an HSI Volatility Index Futures Contract
      is registered by the Clearing House
  Contracted Value : Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  0.05 index point (or HK$ 250)
  Maximum Fluctuation :  Nil
  Position Limit :

10,000 contracts in any one contract month per client
  Large Open Positions : 

1,000 contracts in any one contract month per client
  Last Trading Day : 30 calendar days prior to the second last Business Day of the next month
  Trading Hours (HK Time) : 

09:30-12:00 (first trading session), 13:00-16:15 (second trading session)
     

There is no afternoon trading session on the eves of Christmas, New Year
and Lunar New Year.

 

Trading Hours on Last Trading Day

:

 09:30-12:00 (first trading session), 13:00-16:00 (second trading session)
  (HK Time)  

 There shall be no afternoon trading session if the Last Trading Day
     
 falls on Christmas Eve, New Year’s Eve or Lunar New Year’s Eve
  Final Settlement Price : 

The Final Settlement Price for HSI Volatility Index Futures Contracts shall be a 

      number, rounded down to the nearest 2 decimal places, determined by
the Clearing House and shall be the average of quotations of the HSI Volatility
Index compiled, computed and disseminated by Hang Seng Indexes Company
Limited taken at (i) 1 minute intervals between 15:30 and up to 16:00
on the Last Trading Day; or (ii) 1 minute intervals between 11:15 and
up to 11:45 on the Last Trading Day which falls on Christmas Eve, New Year’s
Eve or Lunar New Year’s Eve. The Chief Executive of the Exchange has the power
under the Regulations for trading Stock Index Futures Contracts to determine the
Final Settlement Price under certain circumstances
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method : 
Cash (Hong Kong dollar) settled contract for difference
  Final Settlement Day : The first Business Day after the Last Trading Day of the Contract Month
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
     

 
 

* These fees and levies are subject to change.

    
 

   
     

Back to the top

6.

Contract Specifications for Gold Futures
  Underlying Index : 

Gold of not less thatn 995 fineness
  Contract Multiplier : 

100 troy ounces
  Contract Month : Spot month and the next two calendar months
  Cash Settlement Price : 

The final settlement price multiplied by the contract size
  Minimum Fluctuation : 

US$0.1 per troy ounce
  Maximum Fluctuation : Nil
  Position Limits :  Nil
  Large Open Positions : Nil
  Trading Hours(HK Time) :  08:30 - 17:00, no lunch break
  Trading Currency :

U.S.Dollar
  Settlement Currency : U.S.Dollar
  Last Trading Day : 

The third last Hong Kong business day of the contract month. If it is
     

not a London business day, the last trading day shall be the immediately
preceding London business day which is also a Hong Kong business day.
  Final Settlement Day :

The first Business Day after the Last Trading Day
  Final Settlement Price : 

The price of gold per troy ounce in U.S. dollars at London Morning Gold

     

Fixing carried out by The  London Gold Market Fixing Ltd. And published
by The  London Bullion Market Association on the last trading day.
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
     

 
 

* These fees and levies are subject to change.

    
 

   
     

Back to the top

7.

Contract Specifications for Brazil's IBOVESPA Futures

 

Underlying Index

 : IBOVESPA (the share price index of that name compiled, computed
      and disseminated by BM&FBOVESPA S.A. – Bolsa de Valores,
      Mercadorias e Futuros)
  Contract Multiplier : HK$ 5.00 per Index point
  Contract Month   Two nearest even-numbered calendar months.The Chief Executive may, in
      consultation with the Commission,introduce additional Contract Months for 
      trading from time to time as he considers appropriate
  Contracted Price : 

The price in whole Index points at which an IBOVESPA Futures Contract is

      registered by the Clearing House
  Contracted Value :

Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  5 Index point
  Maximum Fluctuation :

10% of daily settlement price of the nearest contract month determined by

      BM&FBOVESPA S.A. – Bolsa de Valores, Mercadorias e Futuros on the
      previous Business Day.
  Position Limits : 

25,000 open contracts
  Large Open Positions : 2,500 open contracts, in any one Contract Month, per Exchange Participant
      for the Exchange Participant’s own behalf; and 2,500 open contracts,
      in any one Contract Month, per Client
  Last Trading Day :  The Last Trading Day determined by BM&FBOVESPA S.A. –– Bolsa de Valores,
      Mercadorias e Futuros (i.e. Usually the Wednesday closest to the 15th calendar day
      of the Contract Month) If it is not a Hong Kong Business Day, the Last Trading Day
      shall be the immediately preceding Hong Kong Business Day.
  Trading Hours (HK Time) : 

09:15 – 16:15 , no break in between
     

There is no trading after 12:00 on the eves of Christmas, New Year and
     

Lunar New Year.The trading hours on those three days shall be 09:15
     

– 12:00 p.m.
  Trading Hours on Last Trading Days (HK Time) : 09:15 – 16:15 p.m. , no break in between
      There shall be no trading after 12:00 if the Last Trading Day falls on Christmas
      Eve,New Year’s Eve or Lunar New Year’s Eve
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method :  Cash settled contract of difference
  Final Settlement Day : 

The second Business Day after the Last Trading Day
  Final Settlement Price : 

The Final Settlement Price shall be a whole number, determined by

      the Clearing House and shall be the Final Settlement Price of the IBOVESPA
      futures at BM&FBOVESPA S.A.– Bolsa de Valores, Mercadorias e Futuros.
  Trading Fee & Levies * :

Please refer to relevant Fees & Charges
       
  * These fees and levies are subject to change.    
       
     

Back to the top
       

8.

Contract Specifications for Russia's MICEX Index Futures

 

Underlying Index

 : MICEX Index (the share price index of that name compiled, computed
      and disseminated by Open Joint Stock Company MICEX-RTS)
  Contract Multiplier : HK$ 100 per Index point
  Contract Month : Two nearest even-numbered calendar months.The Chief Executive may, in
      consultation with the Commission,introduce additional Contract Months for 
      trading from time to time as he considers appropriate
  Contracted Price : 

The price in Index points, quoted to two decimal places, at which a MICEX Index
      Futures Contract is registered by the Clearing House
  Contracted Value :

Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation :  0.05 Index point
  Maximum Fluctuation :

Nil
  Position Limits : 

25,000 open contracts
  Large Open Positions : 2,500 open contracts, in any one Contract Month, per Exchange Participant
      for the Exchange Participant’s own behalf; and 2,500 open contracts,
      in any one Contract Month, per Client
  Last Trading Day :  The Last Trading Day determined by Open Joint Stock Company MICEX-RTS
      (i.e. Usually The 15th calendar day of the Contract Month) If it is not a Hong Kong
      Business Day, the Last Trading Day shall be the immediately preceding Hong
      Kong Business Day.
  Trading Hours (HK Time) : 

09:15 – 16:15, no break in between
     

There is no trading after 12:00 p.m. on the eves of Christmas,New Year and

     

Lunar New Year. The trading hours on those three days shall be 09:15– 12:00
  Trading Hours on Last Trading Days (HK Time) : 09:15 – 16:15 , no break in between
      There shall be no trading after 12:00 p.m. if the Last Trading Day falls on
      Christmas Eve,New Year’s Eve or Lunar New Year’s Eve
  Trading Method :  The Exchange’s Automated Trading System (HKATS)
  Settlement Method :  Cash settled contract of difference
  Final Settlement Day : 

The second Business Day after the Last Trading Day
  Final Settlement Price : 

The Final Settlement Price shall be a number with 2 decimal places, 

      determined by the Clearing House and shall be the final settlement
      price of the MICEX Index futures at Open Joint Stock Company
      MICEX-RTS.
  Trading Fee & Levies * :

Please refer to relevant Fees & Charges
       
  * These fees and levies are subject to change.    
       
     

Back to the top
       

9.

Contract Specifications for India’s Sensex Index Futures

  Underlying Index : 

Sensex Index (the share price index of that name compiled,

      computed and disseminated by BSE Limited)
  Contract Multiplier : 

HK$10 per index point 

  Contract Month :

Spot Month and the next calendar month. (The Chief Executive may,
      in consultation with the Commission, introduce additional Contract
Months for trading from time to time as he considers appropriate)
  Cash Settlement Price : 

The price in whole Index points at which a Sensex Index Futures Contract

      is registered by the Clearing House
  Minimum Fluctuation : 

1 Index point

  Maximum Fluctuation : Nil
  Position Limits :  25,000 open contracts
  Large Open Positions :

2,500 open contracts, in any one Contract Month, per Exchange Parti-
      cipant for the Exchange Participant’s own behalf; and 2,500 open contracts,
in any one Contract Month, per Client
  Trading Hours :  09:30-16:15 , no break in between
  (HK Time)   There is no trading after 12:00 p.m. on the eves of Christmas, New Year
      and Lunar New Year. The trading hours on those three days shall be
09:15 – 12:00
  Trading Hours on Last Trading Day :

09:30-16:15 ,no break in between
  (HK Time)   There shall be no trading after 12:00 p.m. if the Last Trading Day falls on
     

Christmas Eve, New Year’s Eve or Lunar New Year’s Eve

  Final Settlement Day :

The second Business Day after the Last Trading Day

  Final Settlement Price :

The Final Settlement Price shall be a number with two decimal places,
     

determined by the Clearing House and shall be the final settlement price of
     

the Sensex Index
  Trading Method : The Exchange’s Automated Trading System (HKATS)
  Settlement Method : Cash (Hong Kong dollar) settled contract for difference
  Final Settlement Day : The second Business Day after the Last Trading Day
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
     

 
 

* These fees and levies are subject to change.

    
 

   
     

Back to the top


10.

Contract Specifications for South Africa’s FTSE/JSE Top40 Futures

  Underlying Index : 

FTSE/JSE Top40 Index (the share price index of that name compiled and

      computed by FTSE Limited and disseminated by FTSE Limited and JSE Limited)
  Contract Multiplier : 

HK$10 per index point 

  Contract Month :

Two nearest quarter calendar months. (The Chief Executive may, in

      consultation with the Commission, introduce additional Contract Months
      for trading from time to time as he considers appropriate )
  Contracted Price : The price in whole Index points at which a FTSE/JSE Top40 Futures Contract
     

is registered by the Clearing House
  Contracted Value : Contracted Price multiplied by the Contract Multiplier
  Minimum Fluctuation : 

1 Index point

  Maximum Fluctuation : Nil
  Position Limits :  25,000 open contracts
  Large Open Positions :
2,500 open contracts, in any one Contract Month, per Exchange Participant
      for the Exchange Participant’s own behalf; and 2,500 open contracts, in any
     

one Contract Month, per Client

  Last Trading Day :
The Last Trading Day determined by JSE Limited (i.e. Usually the third
      Thursday of the Contract Month)
      If it is not a Hong Kong Business Day, the Last Trading Day shall be the
immediately preceding Hong Kong Business Day.
  Trading Hours :  09:30-16:15 , no break in between
  (HK Time)   There is no trading after 12:00 on the eves of Christmas, New Year
      and Lunar New Year. The trading hours on those three days shall be
09:15 – 12:00
  Trading Hours on Last Trading Day :

09:30-16:15 , no break in between
  (HK Time)   There shall be no trading after 12:00 if the Last Trading Day falls on
     

Christmas Eve, New Year’s Eve or Lunar New Year’s Eve

  Final Settlement Day :

The second Business Day after the Last Trading Day of the Contract Month
  Final Settlement Price :

The Final Settlement Price shall be a whole number, determined by

     

the Clearing House and shall be the final settlement price of the

     

FTSE/JSE Top40 futures at JSE Limited.

  Trading Method : The Exchange’s Automated Trading System (HKATS)
  Settlement Method : Cash (Hong Kong dollar) settled contract for difference
  Final Settlement Day : The second Business Day after the Last Trading Day of the Contract Month
  Trading Fee & Levies * : 

Please refer to relevant Fees & Charges
     

 
 

* These fees and levies are subject to change.

    
 

   
     

Back to the top

 

     

  
 
Please read our Disclaimer and Security information. © 2008 BOCI Securities Limited. All rights reserved. ?