| Underlying
Interest Rate |
One-Month Hong Kong Interbank Offered Rate |
| Contract
Size |
HK$15,000,000 |
| Contract
Months |
Spot month and the next five calendar months |
| Contracted
Value |
Contracted price multiplied by the value of a minimum
fluctuation multiplied by 100
[e.g. 95.50 x (HK$15,000,000 x 0.0001 x 1/12) x 100] |
| Minimum
Fluctuation |
One basis point (0.01 of one percent)
The value of a minimum fluctuation is calculated as the contract size
multiplied by a basis point multiplied by one twelfth of a year.
HK$15,000,000 x 0.0001 x 1/12 = HK$125.00 |
| Price Quotation |
One hundred (100.00) minus the interest rate |
| Large Open
Positions |
1,000 contracts long or short in any one contract
month and 4,000 contracts long and short in all contract months for the
account of an Exchange Participant, and 1,000 contracts long or short in
any one contract month and 4,000 contracts long and short in all contract
months for the account of a client carried by the Exchange Participant. |
Trading
Hours
(Hong Kong time) |
8:30 a.m. - 12:00 noon (first trading session)
1:30 p.m. - 5:00 p.m. (second trading session) |
Trading
Hours on the Last Trading Day
(Hong Kong time) |
8:30 a.m. - 11:00 a.m. |
| Special
Trading Session |
The Chief Executive, from time to time, may authorize
a special trading session to coincide with potentially significant market
events. Not less than three business days prior to a special trading session,
Exchange Participants will be notified of the trading hours of the special
trading session |
| Trading
Method |
Electronic order matching through the automated
trading system |
| Last Trading
Day |
The last trading day of a contract shall be two
business days before the third Wednesday of the contract month |
| Final Settlement
Day |
The third Wednesday of the contract month. If the
third Wednesday of such contract month is not a business day then the final
settlement day of the contract shall be the next business day following
the third Wednesday of the contract month |
| Settlement
Method |
Cash settlement |
| Final Settlement
Price |
One hundred minus the one-month HKAB interest settlement
rate as displayed on Telerate page 9898 at approximately 11:15 a.m. on the
last trading day, rounded up to the nearest 0.01 of a percentage point
(100.00 - HKAB interest settlement rate = final settlement price) |
| Cash Settlement
Value |
Final settlement price multiplied by the value
of a minimum fluctuation multiplied by 100
[e.g. final settlement price x (HK$15,000,000 x 0.0001 x 1/12) x 100 = cash
settlement value] |
Trading
Fees & Levies*
(per contract per side) |
| Exchange Fee |
HK$5.00 |
| Securities and Futures Commission levy |
HK$1.00 |
| Compensation fund levy |
HK$0.50 |
| Total |
HK$6.50 |
|
| Commission |
Negotiable |
