Dealing Desk Hotline

(603)-2181 8848

Contract Specifications for HKEx Hang Seng Index Futures (HSI)

EXCHANGE Hong Kong Exchange and Clearing Limited (HKEx)
PRODUCT SYMBOL HSI
UNDERLYING STOCK INDEX Hang Seng Index (the share price index of that name compiled, computed and disseminated by Hang Seng Indexes Company Limtied)*
TRADING HOURS 9:15 am – 12:00 noon, 1:00 pm – 4:30 pm & 5:15 pm – 11:45 pm

(Expiring contract month closes at 4:00 pm on the Last Trading Day)

TRADING HOURS ON LAST TRADING DAY Hong Kong Time
9:15 am- 12:00 pm & 1:00pm – 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)
CONTRACT PRICE The price in whole Index points at which a Hang Seng Index Futures Contract is registered by the Clearing House.
CONTRACT MONTHS Spot, next calendar month & next two calendar quarter months (i.e. quarterly months are March, June, September and December)
CONTRACT MULTIPLIER HK$50 per one index pointt
MINIMUM FLUCTUATION One Index point
CONTRACT VALUE Contracted Price multiplied by the Contract Multiplier
LAST TRADING DAY The Business Day immediately preceding the last Business Day of the Contract Month
FINAL SETTLEMENT DAY The first Businesss Day after the Last trading Day
SETTLEMENT METHOD Cash settled contract of difference
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$10.00
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 Hang Seng Index Futures, Hang Seng Index Options, Mini-Hang Seng Index Futures and Mini-Hang Seng Index Options combined of 10,000 long or short in all contract months combined provided the position delta for Mini-Hang Seng Index Futures or Mini-Hang Seng Index Options shall not at any time exceed 2,000 long or short in all contract months combined. For this purpose, the position delta of one Mini-Hang Seng Index Futures Contract will have a value of 0.2 and the position delta of one Mini-Hang Seng Index Option Contract will be one-fifth of the position delta of the corresponding series in the Hang Seng Index Option Contract.
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

RECOMMENDATIONS

 

I’m interested to trade but I don’t have an account. Where do I start?

If you are new to futures trading, we highly recommend you read through each of these informative links on how to get started.