| Underlying
Index/Index |
MSCI China
Free Index (the share price index of that name compiled, computed
and disseminated by Morgan Stanley Capital International Inc.Note) |
| Contract
Multiplier |
HK$100 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
0.1 Index points at which an MSCI China Free Index Futures Contract
is registered by the Clearing House |
| Contracted
Value |
Contracted
Price multiplied by Contract Multiplier |
| Minimum
Fluctuation |
0.1 Index point |
| Maximum
Fluctuation |
Nil |
| Position
Limits |
10,000 contracts
long or short in any Contract Month for the account of an Exchange
Participant and 10,000 contracts long or short in any Contract Month
for the account of a Client carried by the Exchange Participant |
| Large Open
Positions |
500 contracts
long or short in any Contract Month for the account of an Exchange
Participant and 500 contracts long or short in any Contract Month
for the account of a Client carried by the Exchange Participant |
Trading
Hours
|
9:45 a.m. -
12:30 p.m.
2:30 p.m. - 4:15 p.m. (Hong Kong time) |
Trading
Hours on Last Trading Day
|
9:45 a.m. -
12:30 p.m. and
2:30 p.m. - 4:00 p.m.# (Hong Kong time)
# The closing
time shall be adjusted automatically to correspond with the closing
time of the underlying cash market in Hong Kong, 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 (Hong
Kong dollar) settled contract for differences |
| Final Settlement
Price |
The Final Settlement
Price for MSCI China Free Index Futures Contracts shall be a number,
rounded down to the nearest one (1) decimal place, determined by the
Clearing House and shall be the average of the quotations of the MSCI
China Free Index taken at five (5) minute intervals during the Last
Trading Day. 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$10.00 |
| SFC Levy |
HK$1.00 |
| Compensation Fund Levy |
HK$ 0.50
|
| Total |
HK$11.50 |
|
Commission
Rate
|
Negotiable |
** These fees and
levies are subject to change and invertors should consult their brokers
Note
The MSCI China Free Index ("Index") is a service mark
of Morgan Stanley Capital International Inc. ("MSCI") and has been licensed
for use by the Exchange. Futures contracts and options contracts on the
Index are not sponsored, guaranteed or endorsed by MSCI. MSCI also makes
no representations regarding the advisability of investing in such products.
MSCI does not guarantee the accuracy and/or completeness of the Index
or any data included therein. MSCI makes no warranty, express or implied,
as to the results to be obtained by any person or any entity from the
use of the Index or any data included therein. MSCI makes no express or
implied warranties, and expressly disclaims all warranties of merchantability
and fitness for a particular purpose or use with respect to the Index
or any data included therein. Without limiting any of the foregoing, in
no event shall MSCI have any liability for any direct, special, punitive,
indirect, or consequential damages (including lost profits), even if notified
of the possibility of such damages. In addition, MSCI shall have no liability
for any damages, claims, losses or expenses caused by any errors or delays
in calculating or disseminating the Index.
|
