HKFE announces margin rates for Iron Ore futures


Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has announced margin rates for the TSI Iron Ore Fines 62% Fe CFR China Futures (Iron Ore Futures) that will begin trading on HKEX on Monday, 13 November 2017.

The Client Margin table below shows the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the contract. The margins are based on the clearing company’s normal procedures and standard margining methodology.

Mainland China is the world’s largest iron ore consumer and importer. Last year, its imports rose to an all-time high of more than 1.024 billion tonnes.

Client Margin
Initial
(
US$)
Maintenance
(
US$)

TSI Iron Ore Fines 62% Fe CFR China Futures
Monthly Contracts

Full Rate

659

/lot

527

/lot

Spread Rate

289

/spread

231

/spread

Inter-Commodity Spread

Please see table below

TSI Iron Ore Fines 62% Fe CFR China Futures
Quarterly Contracts

Full Rate

486

/lot

388

/lot

Spread Rate

321

/spread

256

/spread

Inter-Commodity Spread

Please see table below

Client Margin
Initial
(
US$)
Maintenance
(
US$)

Inter-commodity Spread Credit Rates(With effect from 13 November, 2017)

Product Pair

Delta/Spread Ratio

Spread Credit Rate

TSI Iron Ore Fines 62% Fe CFR China Futures Monthly Contracts

 

vs

 

TSI Iron Ore Fines 62% Fe CFR China Futures Quarterly Contracts

1 vs 2

64%

To encourage market participation and liquidity building, there will be an Exchange Fee holiday and 100 per cent SFC levy exemption for the entire market for Iron Ore Futures’ first six months of the HKFE.

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HKFE announces margin rates for Iron Ore futures

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