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Mini-Hang Seng China Enterprises Index Futures (MCH)

Commodity Name Mini-Hang Seng China Enterprises Index Futures (MCH)
Contract Multiplier HK$10 per Index point
Contract Months Spot Month, the next calendar month, and the next two calendar quarter months (i.e. quarterly months are March, June, September and December)
Minimum Fluctuation One index point
Maximum Fluctuation Nil
Contracted Price The price in whole Index points at which a Mini-Hang Seng China Enterprises Index Futures Contract is registered by the Clearing House
Contracted Value Contracted Price multiplied by the Contract Multiplier
Position Limits Position delta for Mini H-shares Index futures, H-shares Index futures and H-shares Index options combined of 12,000 long or short in all contract months combined provided the position delta for Mini H-shares 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 and also per client. For this purpose, the position delta of one Mini H-shares Index futures contract will have a value of 0.2.
Large Open Positions 2,500 open contracts, in any one contract month, per Exchange Participant for the Exchange Participant’s own behalf and per Client.
Trading Hours
Hong Kong Time 9:45 a.m. - 12:30 p.m. (first trading session)
2:30 p.m. - 4:15 p.m. (second trading session)
Trading Hours on Last Trading Date
Hong Kong Time 9:45 a.m. - 12:30 p.m. (first trading session)
2:30 p.m. - 4:00 p.m. (second trading session)#

#The closing time shall be adjusted automatically to correspond with the closing time of the underlying cash market, as it may be set from time to time.
Trading Method The Exchange's Automated Trading System (HKATS)
Final Settlement Day The first Business Day after the Last Trading Day
Settlement Method Cash settled contract for difference
Last Trading Day The Business Day immediately preceding the last Business Day of the Contract Month
Final Settlement Price The final settlement price shall be a number, rounded down to the nearest whole number, determined by the Clearing House and shall be the average of the values of the Hang Seng China Enterprises Index taken at five (5) minute intervals during the last trading day.
Trading Fees & Levies
(per contract per side)
Exchange Fee HK$ 2.00
SFC Levy HK$ 0.80##
Total HK$ 2.80

##The SFC levy will be exempted for the first six months of trading (From 31 Mar 08 to 30 Sep 08)

Note
The Mini H-shares Index Futures Contract and the H-shares Index Futures Contract are fungible. Positions in these two Exchange Contracts will be netted automatically (in the case of House and Market Maker accounts) or may be closed out (in the case of Client account) in accordance with the Clearing House Rules.

The above information is subject to change upon market condition.

For more information, please call our customer service hotline at (852) 2822 5001, email us at cs@shkf.com or visit www.SHKdirect.com.
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