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Contract Specifications for HKEx H-shares Index Futures (HHI)

EXCHANGE Hong Kong Exchange and Clearing Limited (HKEx)
PRODUCT SYMBOL HHI
UNDERLYING STOCK INDEX Hang Seng China Enterprises Index (HSCEI) (the share price index of that name compiled, computed and disseminated by Hang Seng Indexes Company Limited)*
TRADING HOURS Hong Kong Time

Pre-Market Opening Period:
8:45 am – 9:15 am & 12:30 pm – 1:00 pm

Trading Hours:
9:15 am – 12:00 pm & 1:00 pm – 4:15 pm & 5:00 pm – 11:45 pm

There is no afternoon trading session on the eves of Christmas, New Year and Lunar New Year.

There shall be no afternoon trading session if the last trading day falls on Christmas Eve, New Year’s Eve or Lunar New Year’s Eve

There is no after-hours trading session if it is a blank holiday in both the United Kingdom and Unites States.

TRADING HOURS ON LAST TRADING DAY Hong Kong Time
9:15 am – 12:00 pm & 1:00 pm – 4:00 pm

There shall be no afternoon or after-hours trading session if the Last Trading Day falls on Christmas Eve, New Year’s Eve or Lunar New Year’s Eve.

TRADING METHOD The Exchange’s Automated Trading System (HKATS)
FINAL SETTLEMENT DAY The first Business Day after the Last Trading Day
CONTRACT VALUE Contracted Price multiplied by the Contract Multiplier
CONTRACT MONTHS Spot, next calendar month & next two calendar quarter months (i.e. quarterly months are March, June, September, and December)
MINIMUM FLUCTUATION One Index point
MAXIMUM FLUCTUATION As prescribed by the Exchange from time to time
CONTRACT MULTIPLIER HK$50 per one index point*
LAST TRADING DAY The Business Day immediately preceding the last Business Day of the contract month.
SETTLEMENT METHOD Cash (Hong Kong dollar) settled contract for differences.
FINAL SETTLEMENT PRICE The Final Settlement Price for Mini-hang Seng Index Futures Contracts shall be a number, rounded down to the nearest whole nimber, determined by the Clearing House and shall be the average of quotations of the Hang Seng Index compiled, computed and disseminated by Hang Seng Indexes Company Limited* taken at (i) five (5) minute intervals from (5) minutes before the end of, the Continuous trading Session of SEHK; and (ii) the close of trading on SEHK on the Last Trading Day. 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 FEE (PER CONTRACT PER SIDE) Exchange Fee – HK$3.50
The amount indicated above is subject to change from time to time.
LEVIES (PER CONTRACT PER SIDE) Commission Levy and Investor Compensation Levy are payable at the rate or of the amount prescribed from time to time pursuant to the Ordinance.
POSITION LIMIT Position delta for Mini-Hang Seng China Enterprises Index Futures, Hang Seng China Enterprises Index Futures and Hang Seng China Enterprises Index Options combined of 12,000 long or short in all contract months combined provided the position delta for Mini-Hang Seng China Enterprises Index Futures shall not at any time exceed 2,400 long or short in all contract months combined, per Exchange Participant for the Exchange Participant’s own behalf.

For this purpose, the position delta of one Mini-Hang Seng China Enterprises Index Futures Contract will have a value of 0.2; and Position delta for Mini-Hang Seng China Enterprises Index Futures, Hang Seng China Enterprises Index Futures and Hang Seng China Enterprises Index Options combined of 12,000 long or short in all contract months combined provided the position delta for Mini-Hang Seng China Enterprises Index Futures shall not at any time exceed 2,400 long or short in all Contract Months combined, per Client. For this purpose, the position delta of one Mini-Hang Seng China Enterprises Index Futures Contract will have a value of 0.2

LARGE OPEN POSITION 500 open contracts, in any one contract month, per Exchange Participant for the Exchange Participant’s own behalf; and 500 open contracts in any one Contract month, per client.
COMMISSION RATE Negotiable

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