| Underlying Index |
Hang Seng Index (the share price index of that
name compiled, computed and disseminated by HSI Services Ltd.) |
| Contract Multiplier |
HK$10 per Index point |
| Contract Months |
Spot Month, the next calendar month, and the next
two calendar quarter months (i.e. quarterly months are 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 Contract Months 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 |
1250 contracts, in any one contract month, per
Exchange Participant for the Exchange Participant's own behalf; and 1250
contracts, in any one Contract Month, per Client |
Pre-Market
Opening Period
(Hong Kong time) |
9:15 a.m. - 9:45 a.m. (first trading session)
2:00 p.m. - 2:30 p.m. (second trading session) |
Trading
Hours
(Hong Kong time) |
9:45 a.m. - 12:30 p.m. (first trading session)
2:30 p.m. - 4:15 p.m. (second trading session) |
Trading
Hours on Last Trading Day
(Hong Kong time) |
9:45 a.m. - 12:30 p.m. (first trading session)
2:30 p.m. - 4:00 p.m.# (second trading session)
#The closing time shall be adjusted automatically to correspond with the
closing time of the underlying cash market, as it may be set from time to
time |
| Trading
Method |
The Exchange's Automated Trading System (HKATS) |
| Last Trading
Day |
The Business Day immediately preceding the last
Business Day of the Contract Month |
| Final Settlement
Day |
The first Business Day after the Last Trading Day |
| Settlement
Method |
Cash settled contract for difference |
| Final Settlement
Price |
The Final Settlement Price for Mini-Hang Seng Index
Futures Contracts shall be a number, rounded down to the nearest whole number,
determined by the Clearing House and shall be the average of quotations
of the Hang Seng Index taken at five (5) minute intervals during the Last
Trading Day and compiled, computed and disseminated by HSI Services Ltd.
The Chief Executive of the Exchange has the power under the Regulations
for Stock Index Futures Contracts to determine the Final Settlement Price
under certain circumstances |
Trading
Fees & Levies*
(per contract per side) |
| Exchange Fee |
HK$3.50 |
| Securities and Futures Commission levy |
HK$0.20 |
| Compensation fund levy |
HK$0.10
|
| Total |
HK$3.80 |
|
Minimum
Commission
(per contract per side) |
Before 1 April 2003
HK$20.00 (overnight)(per contract per side)
HK$12.00 (day-trade)(per contract per side)
On or after 1 April 2003
Negotiable |
