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Index Futures

HK Index Futures Trading Hours

 

Time Period Session
08:45am-09:15am Pre-Market Opening
09:15am-12:00pm Morning Session
12:00pm-12:30pm Break
12:30pm-01:00pm Pre-Market Opening
01:00pm-04:30pm Afternoon Session
05:15pm-03:00am* After-hours Trading (T+1)

*03:00 a.m. the next day

 

Effective Monday 17 June 2019, trading in the T+1 Session will be open from 5:15 pm to 3 am

 

Notes:

  1. Closing time of Stock Index Futures and Options, Dividend Futures, HSI Volatility Index Futures and BRICS Futures for half-day trading will be 12:30p.m. Closing time of Stock Futures and Stock Options for half-day trading will be 12:00 noon.
  2. For Flexible Index Options on Hang Seng Index and Hang Seng China Enterprises Index, the acceptance for series creation is from market open until 30 minutes before market close of Index Options. No request for series creation will be accepted on the expiry day of the contract.

Last Trading Day

Code Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Hang Seng Index Futures HSI 30/1 27/2 28/3 29/4 30/5 27/6 30/7 29/8 27/9 30/10 28/11 30/12
Mini-Hang Seng Index Futures MHI 30/1 27/2 28/3 29/4 30/5 27/6 30/7 29/8 27/9 30/10 28/11 30/12
Hang Seng China Enterprises Index Futures HHI 30/1 27/2 28/3 29/4 30/5 27/6 30/7 29/8 27/9 30/10 28/11 30/12
Mini-Hang Seng China Enterprises Index Futures MCH 30/1 27/2 28/3 29/4 30/5 27/6 30/7 29/8 27/9 30/10 28/11 30/12

Index Options

Weekly Index Options

Hong Kong Futures Exchange Limited (“the Exchange” or “HKFE”) will introduce Weekly Hang Seng Index (“Weekly HSI”) Options and Weekly Hang Seng China Enterprises Index (“Weekly HSCEI”) Options contracts (collectively the “Weekly Index Options”) for trading commencing from 16 September 2019 (“Launch Date”).

Weekly Index Options are plain vanilla options contracts that expire every week. The introduction of the Weekly Index Options aims to meet the trading and risk management needs of investors who wish to manage their positions in response to short-term or specific events, such as economic figure announcements, interest rate adjustments or political events using an option contract with short time to maturity and relatively low option premium.

 

Weekly Hang Seng Index (“HSI”) Options Weekly Hang Seng China Enterprises Index (“HSCEI”) Options
Underlying Index HSI HSCEI
HKATS Code HSI HHI
Contract Weeks Spot week and next week
Notes:

  • Generally, each Weekly Index Options contract will be available for trading starting from the first business day of the week and expire on the last business day of the following week.
  • There will be two Weekly Index Options contracts at any time (i.e. spot week contract that will expire on the last business day of the current week and next week contract that will expire on the last business day of next week), except that no Weekly Index Options contract will be introduced if its Expiry Day is the same as the Expiry Day of the Spot Month HSI Options Contract and Spot Month HSCEI Options Contract.
Exercise Style European Style
Expiry Day The last Business Day of the Contract Week
Official Settlement Price 5-minute average of the underlying index on the Expiry Day
Final Settlement Day The Business Day immediately following the Expiry Day

 

Download the leaflet about Weekly Index Options –> Link

Naming convention of Weekly Index Options series:

 

Weekly HSl Options Weekly HSCEI Options
Example HSI27000I9W20

Where:

  • “HSI” means HKATS underlying code;
  • “27000” means strike price;
  • “I” means Sep Call – contract month;
  • “9” means year 2019 contract;
  • “W20” means weekly product with the 20th day of the month as the expiry day

HHI10400I9W20

Where:

  • “HHI” means HKATS underlying code;
  • “10400” means strike price;
  • “I” means Sep Call – contract month;
  • “9” means year 2019 contract;
  • “W20” means weekly product with the 20th day of the month as the expiry day

HK Index Options Trading Hours

 

Time Period Session
09:15am-12:00pm Morning Session
12:00pm-:12:30pm Break
01:00pm-04:30pm Afternoon Session
05:15pm-03:00am* After-hours Trading (T+1)

*03:00 a.m. the next day

Notes:

  1. Closing time of Stock Index Futures and Options, Dividend Futures, HSI Volatility Index Futures and BRICS Futures for half-day trading will be 12:30p.m. Closing time of Stock Futures and Stock Options for half-day trading will be 12:00 noon.
  2. For Flexible Index Options on Hang Seng Index and Hang Seng China Enterprises Index, the acceptance for series creation is from market open until 30 minutes before market close of Index Options. No request for series creation will be accepted on the expiry day of the contract.

Last Trading Day

Code Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Options Underlying index 30/1 27/2 28/3 29/4 30/5 27/6 30/7 29/8 27/9 30/10 28/11 30/12

HKEx Margin Level

HKEx Futures Margin Levels


CodeInitial MarginMaintenance Margin Contract Multiplier (Per Index Point)
Hang Seng Index FuturesHSIHK$101,944HK$81,555HK$50
Mini-Hang Seng Index FuturesMHIHK$20,388HK$16,311HK$10
Hang Seng China Enterprises IndexHHIHK$39,301HK$31,441HK$50
Mini-Hang Seng China Enterprises IndexMCHHK$7,860HK$6,288HK$10
Hang Seng TECH Index FuturesHTIHK$19,484HK$15,587HK$50
Index OptionsUnderlying IndexPremiumPremiumHK$50 / $10

(The above information is for reference only. Please refer to the Margin Levels for Futures Contracts on the Hong Kong Stock Exchange’s website.)

** Client may incur loss during market fluctuations. When the balance on the account is lower than the maintenance margin level, client must deposit funds immediately to restore the margin balance on his/her account to initial margin level or above. Otherwise, broker has the right to close the open position for the client without prior notice. Client must make sure the account has sufficient balance to meet the initial margin requirements set by the exchanges.

HKEx – Margin Levels for Futures Contracts

CME Margin Level

CME Commodity Futures Margin Levels


CodeInitial MarginMaintenance Margin
CRUDE OIL FUTURECLHK$49,978HK$45,434
COMEX GOLD FUTURESGCHK$71,520HK$65,018
COMEX SILVER FUTURESSIHK$81,861HK$74,419
COMEX COPPER FUTURESHGHK$56,010HK$50,918
E-mini S&P 500 FuturesESHK$96,509HK$87,736
NIKKEI 225 YEN FUTNIYHK$37,987HK$34,533
E-MINI NASDAQ 100 FUTURESNQHK$144,764HK$131,604
EURO FUTURE6EHK$22,834HK$20,759
JAPANESE YEN FUTURES6JHK$32,055HK$29,140
Micro E-mini S&P 500 Index FuturesMESHK$9,650HK$8,773
Micro E-mini Nasdaq-100 Index FuturesMNQHK$14,476HK$13,160
E-MINI DOW ($5) FUTURESYMHK$68,935HK$62,668
FTSE China A50 Index FuturesCNHK$7,755HK$7,050
2 YEAR TREASURY NOTE FUTURESZTHK$12,063HK$10,967
CORN FUTURESZCHK$14,648HK$13,317
SOYBEAN FUTURESZSHK$22,404HK$20,367
COMEX MINY SILVER FUTURESQIHK$40,930HK$37,209
E-MINI CRUDE OIL FUTURESQMHK$24,989HK$22,717
NATURAL GAS FUTURESNGHK$34,467HK$31,334
PALLADIUM FUTURESPAHK$172,339HK$156,672
PLATINUM FUTURESPLHK$31,882HK$28,984
BRITISH POUND FUTURES6BHK$24,127HK$21,934
SWISS FRANC FUTURES6SHK$38,776HK$35,251
CANADIAN DOLLAR FUTURES6CHK$10,771HK$9,792
NEW ZEALAND FUTURES6NHK$15,510HK$14,100

(The above information is for reference only (Currency exchange rate at 7.8336 Hong Kong dollars per US dollar). Please refer to the Margin Levels for Commodity Futures Contracts on the Chicago Mercantile Exchange's website.)

** Client may incur loss during market fluctuations. When the balance on the account is lower than the maintenance margin level, client must deposit funds immediately to restore the margin balance on his/her account to initial margin level or above. Otherwise, broker has the right to close the open position for the client without prior notice. Client must make sure the account has sufficient balance to meet the initial margin requirements set by the exchanges.

Contract Code List

Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Options F G H J K M N Q U V X Z
Call A B C D E F G H I J K L
Put M N O P Q R S T U V W X

Trading Fees

Index Futures / Options Trading Fees

 

Hong Kong Market

Exchange Fee HK$3.50
Commission Levy HK$0.10
Commission Rate Negotiable