Dow Jones Industrial Average Futures 
Contract Specifications

Underlying Index/Index Dow Jones Industrial Average
Contract Multiplier HK$10 per Index point
Contract Months Four nearest calendar quarter months (i.e. quarterly months are March, June, September, December)
Minimum Fluctuation One Index point
Maximum Fluctuation Nil
Contracted Price The price in whole Index points at which a Dow Jones Industrial Average Futures Contract is registered by the Clearing House
Contracted Value Contracted Price multiplied by Contract Multiplier
Position Limits 20,000 contracts, in any one Contract Month, per Exchange Participant for the Exchange Participant' s own behalf; and 

20,000 contracts, in any one Contract Month, per Client

Large Open Positions  

1,000 contracts, in any one Contract Month, per Exchange Participant for the Exchange Participant's own behalf; and

1,000 contracts in any one Contract Month, per Client

Trading Hours

9:00 a.m. - 12:30 p.m. and 

2:30 p.m. - 4:15 p.m. (Hong Kong time)

Trading Method The Exchange's Automated Trading System (HKATS)
Final Settlement Day The Hong Kong Business Day following the third Friday of the Contract Month
Settlement Method Cash settled contract for difference
Settlement Currency Hong Kong dollars
Last Trading Day The third Friday of the Contract Month. If the underlying market is not open on that day, the Last Trading Day shall be the immediately preceding day such underlying market is open, provided that if that day is not a Hong Kong Business Day, the Last Trading Day shall be the Hong Kong Business Day immediately preceding that day.
Final Settlement Price The Final Settlement Price for Dow Jones Industrial Average Futures Contracts is determined by the Clearing House and shall be the Special Opening Quotation (SOQ)* of the Dow Jones Industrial Average on the third Friday of the Contract Month compiled, computed and disseminated by Dow Jones & Company, Inc. If the underlying market is not open on that day, the Final Settlement Price shall be the SOQ on the immediately preceding day such underlying market is open. 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 Fees & Levies**
(per contract per side)
Exchange Fee  HK$3.50
SFC Levy HK$1.00
Compensation Fund Levy HK$ 0.50

Total HK$5.00
Commission Rate
Negotiable

The SOQ is calculated from the opening prices of the constituent stocks of the Dow Jones Industrial Average.

** These fees and levies are subject to change and invertors should consult their brokers

Note

"Dow Jones" and "Dow Jones Industrial AverageTM" are servicemarks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by the Exchange, a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited. The Exchange s Dow Jones Industrial Average Futures Contract based on the Dow Jones Industrial AverageTM is not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such product.

 

updated on 03/09/02



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