香港恒生指数期货

Hong Kong Exchanges and Clearing Limited 香港交易及結算所有限公司 12/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong 香港中環港景街一號 國際金融中心一期12樓 電話 Tel : +852 2522 1122 傳真 Fax : +852 2295 3106 網址 Website: www.hkex.com.hk 電郵 E-mail: info@hkex.com.hk Mar 2011 2011年3月 14 The Benchmark for Hong Kong Stock Market The Hang Seng Index (HSI), the leading barometer of Hong Kong stock market, is one of the best known indices in Asia and is widely used by fund managers as their performance benchmark. Since its introduction on 24 November 1969, regular adjustments of HSI constituent stocks have been made to reflect the importance of different industry sectors and to keep track of the closer economic ties between Hong Kong and Mainland China. Despite the enormous growth in the Hong Kong stock market over the years, the HSI has been proven to be an effective tool to track the overall performance of the Hong Kong stock market. Figure 1 shows the HSI performance and figure 2 shows average daily volume of HSI Futures and Options. Hang Seng Index The HSI is a market capitalisation-weighted index (shares outstanding multiplied by stock price). The constituent stocks are grouped under Commerce and Industry, Finance, Properties and Utilities sectors. The constituent stock list of HSI is reviewed quarterly. Hang Seng Index Futures and Options (including Flexible Hang Seng Index Options) The HSI is commonly used as the base index for variety of derivatives products. HSI futures contracts were introduced in May 1986 followed by the introduction of HSI options contracts in March 1993. Together these contracts provide investors with a set of effective instruments to manage portfolio risk. HSI futures and options have become very popular with increasing domestic and international investors' participation. Flexible Hang Seng Index Options contracts were launched in February 2010, providing flexibility in strike prices and expiry months. Mini-Hang Seng Index Futures and Options Mini-HSI futures and options contracts were launched in October 2000 and November 2002 respectively to serve the trading and hedging needs of retail investors. Mini-HSI futures and options contracts are one-fifth the size of standard HSI futures and options contracts. Hang Seng Index Futures and Options (including Flexible Hang Seng Index Options) Mini-Hang Seng Index Futures and Options 㞫生指數期貨及期權(包括自訂條款㞫生指數期權) 小型㞫生指數期貨及期權 Risks of Trading Futures and Options Futures and options involve a high degree of risk. Losses from futures and options trading can exceed your initial margin funds and you may be required to pay additional margin funds on short notice. Failure to do so may result in your position being liquidated and you being liable for any resulting deficit. You must therefore understand the risks of trading in futures and options and should assess whether they are right for you. You are encouraged to consult a broker or financial adviser on your suitability for futures and options trading in light of your financial position and investment objectives before trading. © Hong Kong Exchanges and Clearing Limited (HKEx) All rights reserved. Nothing herein is to be construed as a recommendation to purchase or sell futures and / or options contracts or to provide investment advice. While efforts are made to ensure the accuracy of information contained in this publication, HKEx and its subsidiaries do not warrant its accuracy, timeliness, completeness or fitness for a particular purpose and do not assume any liability for any errors or omissions or any action taken on the basis of such information. 買賣期貨及期權的風險 期貨及期權涉及高程度的風險，買賣期貨及期權所招致的損失有可能超過所繳付的開 倉按金而閣下可能要在短時間的通知下繳付額外按金。若未能繳付，閣下的持倉可被 平倉，閣下並需要承擔任何有關的虧蝕。閣下必須清楚明白買賣期貨及期權的風險， 並且衡量是否適合買賣期貨及期權。閣下在進行交易前，宜就閣下的財務狀況及投資 目標，徵詢經紀或財務顧問閣下是否適合買賣期貨及期權。 ©香港交易及結算所有限公司（香港交易所） 版權所有，不得翻印。 本刊物內容不能視為向任何人士推薦期貨及 / 或期權合約買賣 或提供投資意見。 本刊物的資料已力求準確，惟香港交易所及其附屬公司對內容所有 性質的陳述概不確保其準確、及時、完整或適合某種目的。同時，香港交易所概不就 任何錯漏或根據此等資料而進行的任何行動而承擔責任。 香港股市指標 㞫生指數是香港股票市場變化的主要指標，也是亞洲區內其 中一項最著名，被廣泛應用衡量基金經理 表 关于同志近三年现实表现材料材料类招标技术评分表图表与交易pdf视力表打印pdf用图表说话 pdf 現的指標。 㞫生指數自1969年11月24日推出以來，其成份股隨市場發 展而定期調整，以反映各行業之相對重要性及香港與中國內 地漸趨緊密的經濟聯繫。香港股票市場發展迅速，㞫生指數 已被證實能有效地反映香港股市的表現。圖一顯示㞫生 指數的走勢，而圖二顯示㞫生指數期貨及期權的每日平均成 交量。 㞫生指數 㞫生指數是以加權資本市值法計算（即發行股數乘以股價）。 該指數成份股分別屬於工商、金融、地產及公用事業四個 行業類別。㞫生指數有限公司每季檢討㞫生指數的成份股 名單一次。 㞫生指數期貨及期權合約(包括自訂條款 㞫生指數期權) 㞫生指數獲廣泛應用於各類型的衍生產品上，㞫生指數期貨 合約早於1986年5月推出，㞫生指數期權合約隨後於1993年 3月推出。該等合約為投資者提供有效工具，以管理投資組 合的風險。在本地投資者與國際投資者的積極參與下，㞫生 指數期貨及期權的受歡迎程度不斷提高。自訂條款㞫生指數 期權於2010年2月推出，讓交易所參與者自訂行使價及到期 月份。 小型㞫生指數期貨及期權合約 為迎合個人投資者的買賣及對沖需要，香港交易所分別於 2000年10月及2002年11月推出小型㞫生指數期貨及期權合 約。小型㞫生指數期貨及期權的合約價值為㞫生指數期貨及 期權合約的五分之一。 Figure 1: HSI Performance from Jan 2005 to Dec 2009 圖一：㞫生指數由2005年1月至2009年12月的走勢圖 20 05 -0 1 20 05 -0 6 20 05 -1 1 20 06 -0 4 20 06 -0 9 20 07 -0 2 20 07 -0 7 20 07 -1 2 20 08 -0 5 20 08 -1 0 20 09 -0 3 20 09 -0 8 20 09 -1 2 6,000 34,000 30,000 26,000 22,000 18,000 Index level 指數水平 10,000 14,000 HSI Futures 㞫生指數期貨 HSI Options 㞫生指數期權 Figure 2: Average Daily Volume of HSI Futures and Options 圖二：㞫生指數期貨及期權的每日平均成交量 0 80,000 70,000 60,000 30,000 10,000 20,000 40,000 50,000 2005 2006 2007 2008 2009 No. of Contracts 合約數量 100,000 90,000 Information Vendors Access Codes (As of 28 February 2010) 資訊供應商代碼（截至2010年2月28日） y: Contract Year / 合約年份 m: Contract Month / 合約月份 s: Strike Price / 行使價 Name HSI Futures HSI Options Flexible HSI Options Mini-HSI Futures Mini-HSI Options 公司名稱 㞫生指數期貨 㞫生指數期權 自訂條款㞫生指數期權 小型㞫生指數期貨 小型㞫生指數期權 AAStocks.com Ltd / 221000 322000 – 221004 322010 阿斯達克網絡信息有限公司 ACTIV Financial HSI/yym.HF Call: Call: MHI/yym.HF Call: Systems, Inc. HSI/ym/sC.HF XHS/ym/sC.HF MHI/ym/sC.HF Put: Put: Put: HSI/ym/sP.HF XHS/ym/sP.HF MHI/ym/sP.HF AFE / 亞富資訊科技有限公司 870785,785 873101 837401 870786, 785 873141 Bartech (Int’l) Information HSImy – – MHImy – Network Ltd / 霸才（國際）信息網絡有限公司 Bloomberg / 彭博資訊 HIA Index CT HSI Index OMON ERH HKF HUA Index CT MHSI Index OMON ET Net Ltd / “Futures’ menu “Options’ menu – “Futures’ menu “Options’ menu 經濟通有限公司 ‘Index Futures ‘Index Options ‘Index Futures ‘Index Options Quotation’ menu Quotation’ menu Quotation’ menu Quotation’ menu HSI Select ‘HSI’ from MHI Select ‘MHI’ from Index Options List Box Index Options List Box Finet Holdings Ltd. / Click “Futures” Button Click “Options” Button – Click “Futures” Button Click “Options” Button 財華控股有限公司 IInfocast Ltd / HSI HSI XHS MHI MHI 匯港資訊有限公司 Quick Corp. FHSI.yymm/HKF PHSI.yymm*3/HKF – FMHI.yymm/HKF PMHI.yymm*3/HKF QuotePower P11000 P11300-P11305 – P11004 P11320-P11325 International Ltd / 報價王科技國際有限公司 Realink Paging Ltd / 1.Pager FP268 - 1. Pager FP268 - – 1.Pager FP268 - – 匯訊傳訊有限公司 Page 1 inside the Page 4-15 inside the Page 2 inside the icon of “期貨” icon of “期貨” icon of “期貨” 2.Pager FP128 - 2. Pager FP128 - Page 2.Pager FP128 - page 787 inside the 1701 - 1718 inside page 789 inside the icon of “股票” the icon of “股票” icon of “股票” Reuters Ltd, a Thomson 0#HSI: 0#HSI*.HF 0#XHS*.HF 0#HMH: 0#HMH*.HF Reuters Company / 路透社有限公司 Six Telekurs Ltd HSIym,113 Call: Call: MHIym,113 Call: HSIymcs,113 XHSymcs,113 MHIymcs,113 Put: Put: Put: HSIymps,113 XHSymps,113 MHIymps,113 Star Financial Limited / HSI – – MHI – 星光財經有限公司 Tai Fook On-line From price tree within From price tree + pull – From price tree within From price tree + pull Services Ltd / the trading platform down menu within the the trading platform down menu within the 大福證券有限公司 (Sharp Point) / trading platform (Sharp (Sharp Point) / trading platform (Sharp From pull-down menu Point) / From pull-down From pull-down menu Point) / From pull-down (Web Futures) menu (Web Futures) (Web Futures) menu (Web Futures) Tele-Trend Limited / HIFC Alt+O HSI – HMFC Alt+O MHI 捷利資訊有限公司 Telequote Data HSImy HSIOmy XHSOmy MHImy MHIOmy International Ltd / 電資訊國際有限公司 Tenfore Systems Ltd HSIym HSIyms XHSyms MHIym MHIyms AMS Terminal / 785 – – 785 – 自動對盤系統終端機 2 3 買賣㞫生指數期貨及期權的好處/優點 市場接受的指標 㞫生指數是衡量香港股市及投資組合表現的指標。 高流通量 㞫生指數期貨及期權市場的特點是高流通量及本地及海外投資 者的活躍參與。 高成本效益 買賣㞫生指數期貨及期權合約以按金為基礎，而按金只佔合約 價值的一部份。 靈活應用 期權有獨特的風險與回報結構，是非常靈活的投資工具。 交易效率 標準化的期貨及期權合約提供有秩序，高透明度及有效率的 市場。 低中央交易對手風險 香港交易所的附屬公司，香港期貨結算有限公司擔任經交易 所進行的交易的中央交易對手，因此交易對手風險極微。 Advantages of Trading HSI Futures and Options Proven Benchmark HSI is a benchmark for the Hong Kong stock market and yardstick of portfolio performance. High Liquidity The HSI futures and options markets are characterised by their trading liquidity and the active participation by both local and overseas investors. High Cost Effectiveness HSI futures and options are traded on a margin basis. The margin is only a fraction of the contract value. Flexible Tool Options are extremely versatile investment tools with unique risk and reward structures. Efficient Markets Standardised futures and options provide orderly, transparent and efficient markets. Low Counterparty Risk The HKFE Clearing Corporation Limited, an HKEx subsidiary, acts as a central counterparty to every trade executed through HKEx so the counterparty risk is minimal. HSI and Mini-HSI Futures Contract Summary*: 㞫生指數及小型㞫生指數期貨合約概要*： Hang Seng Index Futures / 㞫生指數期貨 Standard / 標準 Mini / 小型 Underlying Index / 相關指數 Hang Seng Index / 㞫生指數 Contract Multiplier / 合約乘數 HK$50 per index point / 每指數點港幣$50 HK$10 per index point / 每指數點港幣$10 Minimum Fluctuation / 最低價格波幅 One index point / 一個指數點 Contract Months / 合約月份 Spot, next calendar, & next two calendar quarter months / 現月，下月，及之後的兩個季月 Pre-Market Opening Period / 開市前時段 8:45am - 9:15am & 1:00pm - 1:30pm Trading Hours / 交易時間 9:15am - 12:00pm & 1:30pm - 4:15pm (Closed at 4:00pm on the Last Trading Day / 最後交易日收市時間為下午4時正) Last Trading Day / 最後交易日 The Business Day immediately preceding the last Business Day of the Contract Month / 該月最後第二個營業日 Final Settlement Price / 最後結算價 Average of quotations of the Hang Seng Index taken at five minute intervals during the Last Trading Day / 在最後交易日㞫生指數每五分鐘所報指數點的平均數 Exchange Fee / 交易所費用 HK$10.00 / 港幣$10.00 HK$3.50 / 港幣$3.50 *Please visit the HKEx website for details which may be updated from time to time (http://www.hkex.com.hk/) *請參閱香港交易所網站不時更新的資料(http://www.hkex.com.hk/) Flexible Index Options - Creation, Execution, Clearing and Settlement 自訂條款指數期權 -系列建立、交易執行、結算及交收 Creation 建立系列 - Exchange Participants may make requests for the creation of Flexible Index Option series with specifications as listed in the contract summary above to HKEx from market open until 30 minutes before the close of trading for index options. - A series will not be created if there is an existing standard series with the same strike price and expiry. - 交易所參與者可於指數期權開市至收市前30分鐘要求建立按上述 合約概要說明的自訂條款指數期權系列。 - 與現有標準期權的行使價及到期日相同的自訂條款指數期權將不被 建立。 Execution 執行交易 - Flexible Index Options must be executed through the Block Trade Facility during trading hours. Market making services are not available for Flexible Index Options. - Initiating Exchange Participants and any other Exchange Participants can enter new trades to an existing Flexible Index Option series once created. - Flexible Index Options series may be executed in combination with standard option series and futures contracts, as well as other Flexible Index Options series. However, each Flexible Index Option leg of a combination trade must be of 100 contracts or more. - 自訂條款指數期權須在交易時段透過大手交易機制執行。自訂條款 指數期權並不設有莊家服務。 - 任何交易所參與者均可買賣已建立的自訂條款指數期權系列。 - 自訂條款指數期權系列可與標準期權系列、標準期貨合約或其他 自訂條款指數期權系列一併執行，但組合中的每一自訂條款指數 期權必須為100張合約或以上。 Clearing and Settlement 結算與交收 - The settlement price of Flexible Index Option series will be determined theoretically with reference to the volatilities and underlying prices derived from the market data of the standard series in accordance with the daily closing quotation determination process for daily mark-to- market purpose. - Positions of Flexible Index Options and standard series which are sharing the same underlying will be margined on a portfolio basis. - If a standard series has the same strike price and expiration as a Flexible Index Option series, the latter will be suspended from further trading. Positions in the two series will be kept and treated separately. Exchange Participants who hold opposite positions in the two series may request the clearing house to perform an internal position close out according to the clearing house procedures. - 自訂條款指數期權的結算價會參考標準期權系列的波幅及相關資產 價格的市場數據，按照每日收市價的釐定程序而定出有關的理論 結算價以進行每日的市價計值。 - 相同相關資產的自訂條款指數期權和標準期權系列將合併計算按金。 - 若有標準期權系列的行使價及到期日與現有自訂條款指數期權系列 相同時，有關自訂條款指數期權系列即停止交易，而兩者的持倉將 分開處理。 交易所參與者若持有兩個系列的相反未平倉合約，可要 求結算公司按其程序執行內部平倉。 Hang Seng Index Options / 㞫生指數期權 Standard / 標準 Flexible / 自訂條款 Mini / 小型 Underlying Index / 相關指數 Hang Seng Index / 㞫生指數 Product Code / 產品代號 HSI XHS MHI Contract Multiplier / 合約乘數 HK$50 per index point / 每指數點港幣$50 HK$10 per index point / 每指數點港幣$10 Minimum Fluctuation / 最低價格波幅 One index point / 一個指數點 Contract Months / 合約月份 Short-dated Options:- Spot, Any calendar month not further Short-dated Options:- Spot, next two calendar, & next three out than the longest term of next calendar, & next two calendar quarter months / expiry months that are available calendar quarter months / 短期期權：﹣現月，下兩個月及 for trading / 短期期權：﹣現月，下月， 之後的三個季月 任何曆月但不可超越現有最長 及之後的兩個季月 Long-dated Options: 可供買賣的期權合約月份 - the next five months of June and December / 長期期權：﹣之後五個六月及 十二月合約月份 Exercise Style / 行使方式 European Style / 歐式 Option Premium / 期權金 Quoted in whole index points / 以完整指數點報價 Strike Prices / 行使價 Trading Hours / 交易時間 9:15am - 12:00pm & 1:30pm - 4:15pm (Closed at 4:00pm on the Last Trading Day / 最後交易日收市時間為下午4時正) Expiry Day / 合約到期日 The Business Day immediately preceding the last Business Day of the Contract Month / 該月最後第二個營業日 Official Settlement Price / 最後結算價 Average of quotations of the Hang Seng Index taken at five minute intervals during the Expiry Day / 在到期日㞫生指數每五分鐘所報指數點的平均數 Exchange Fee / 交易所費用 HK$10.00 / 港幣$10.00 HK$2.00 / 港幣$2.00 *Please visit the HKEx website (http://www.hkex.com.hk) for full contract specifications which may be updated from time to time and for a list of Futures Exchange Participants. *請參閱香港交易所網站 (http://www.hkex.com.hk) 不時更新的詳盡合約細則及期交所參與者名錄。 Short-dated options / 短期期權: Index points / 指數點 At or above 8,000 / 8,000點或以上 Long-dated options / 長期期權: Index points / 指數點 At or above 19,000 / 19,000點或以上 Intervals / 行使價分隔 200 Intervals / 行使價分隔 1,000 In whole index points which are within +/-30% from the opening price of the spot month futures contract on the day of request, or the range of the prevailing highest and lowest strike prices available amongst the contract month requested to be created, and all other existing contract months with longer expiry terms on the day of request (whichever range is the largest) / 行使價須為完整指數點及在提出 要求當日即月㞫生指數期貨合約 開市價的高低30%幅度範圍內， 或在要求合約月份及其他現有合 約月份中最高與最低的行使價幅 度內（以最大幅度為準） Short-dated options / 短期期權: Index points / 指數點 At or above 8,000 / 8,000點或以上 Intervals / 行使價分隔 200 HSI Options (including Flexible HSI Options) and Mini-HSI Options Contract Summary*: 㞫生指數期權(包括自訂條款㞫生指數期權)及小型㞫生指數期權合約概要*： 2 3 買賣㞫生指數期貨及期權的好處/優點 市場接受的指標 㞫生指數是衡量香港股市及投資組合表現的指標。 高流通量 㞫生指數期貨及期權市場的特點是高流通量及本地及海外投資 者的活躍參與。 高成本效益 買賣㞫生指數期貨及期權合約以按金為基礎，而按金只佔合約 價值的一部份。 靈活應用 期權有獨特的風險與回報結構，是非常靈活的投資工具。 交易效率 標準化的期貨及期權合約提供有秩序，高透明度及有效率的 市場。 低中央交易對手風險 香港交易所的附屬公司，香港期貨結算有限公司擔任經交易 所進行的交易的中央交易對手，因此交易對手風險極微。 Advantages of Trading HSI Futures and Options Proven Benchmark HSI is a benchmark for the Hong Kong stock market and yardstick of portfolio performance. High Liquidity The HSI futures and options markets are characterised by their trading liquidity and the active participation by both local and overseas investors. High Cost Effectiveness HSI futures and options are traded on a margin basis. The margin is only a fraction of the contract value. Flexible Tool Options are extremely versatile investment tools with unique risk and reward structures. Efficient Markets Standardised futures and options provide orderly, transparent and efficient markets. Low Counterparty Risk The HKFE Clearing Corporation Limited, an HKEx subsidiary, acts as a central counterparty to every trade executed through HKEx so the counterparty risk is minimal. HSI and Mini-HSI Futures Contract Summary*: 㞫生指數及小型㞫生指數期貨合約概要*： Hang Seng Index Futures / 㞫生指數期貨 Standard / 標準 Mini / 小型 Underlying Index / 相關指數 Hang Seng Index / 㞫生指數 Contract Multiplier / 合約乘數 HK$50 per index point / 每指數點港幣$50 HK$10 per index point / 每指數點港幣$10 Minimum Fluctuation / 最低價格波幅 One index point / 一個指數點 Contract Months / 合約月份 Spot, next calendar, & next two calendar quarter months / 現月，下月，及之後的兩個季月 Pre-Market Opening Period / 開市前時段 8:45am - 9:15am & 1:00pm - 1:30pm Trading Hours / 交易時間 9:15am - 12:00pm & 1:30pm - 4:15pm (Closed at 4:00pm on the Last Trading Day / 最後交易日收市時間為下午4時正) Last Trading Day / 最後交易日 The Business Day immediately preceding the last Business Day of the Contract Month / 該月最後第二個營業日 Final Settlement Price / 最後結算價 Average of quotations of the Hang Seng Index taken at five minute intervals during the Last Trading Day / 在最後交易日㞫生指數每五分鐘所報指數點的平均數 Exchange Fee / 交易所費用 HK$10.00 / 港幣$10.00 HK$3.50 / 港幣$3.50 *Please visit the HKEx website for details which may be updated from time to time (http://www.hkex.com.hk/) *請參閱香港交易所網站不時更新的資料(http://www.hkex.com.hk/) Flexible Index Options - Creation, Execution, Clearing and Settlement 自訂條款指數期權 -系列建立、交易執行、結算及交收 Creation 建立系列 - Exchange Participants may make requests for the creation of Flexible Index Option series with specifications as listed in the contract summary above to HKEx from market open until 30 minutes before the close of trading for index options. - A series will not be created if there is an existing standard series with the same strike price and expiry. - 交易所參與者可於指數期權開市至收市前30分鐘要求建立按上述 合約概要說明的自訂條款指數期權系列。 - 與現有標準期權的行使價及到期日相同的自訂條款指數期權將不被 建立。 Execution 執行交易 - Flexible Index Options must be executed through the Block Trade Facility during trading hours. Market making services are not available for Flexible Index Options. - Initiating Exchange Participants and any other Exchange Participants can enter new trades to an existing Flexible Index Option series once created. - Flexible Index Options series may be executed in combination with standard option series and futures contracts, as well as other Flexible Index Options series. However, each Flexible Index Option leg of a combination trade must be of 100 contracts or more. - 自訂條款指數期權須在交易時段透過大手交易機制執行。自訂條款 指數期權並不設有莊家服務。 - 任何交易所參與者均可買賣已建立的自訂條款指數期權系列。 - 自訂條款指數期權系列可與標準期權系列、標準期貨合約或其他 自訂條款指數期權系列一併執行，但組合中的每一自訂條款指數 期權必須為100張合約或以上。 Clearing and Settlement 結算與交收 - The settlement price of Flexible Index Option series will be determined theoretically with reference to the volatilities and underlying prices derived from the market data of the standard series in accordance with the daily closing quotation determination process for daily mark-to- market purpose. - Positions of Flexible Index Options and standard series which are sharing the same underlying will be margined on a portfolio basis. - If a standard series has the same strike price and expiration as a Flexible Index Option series, the latter will be suspended from further trading. Positions in the two series will be kept and treated separately. Exchange Participants who hold opposite positions in the two series may request the clearing house to perform an internal position close out according to the clearing house procedures. - 自訂條款指數期權的結算價會參考標準期權系列的波幅及相關資產 價格的市場數據，按照每日收市價的釐定程序而定出有關的理論 結算價以進行每日的市價計值。 - 相同相關資產的自訂條款指數期權和標準期權系列將合併計算按金。 - 若有標準期權系列的行使價及到期日與現有自訂條款指數期權系列 相同時，有關自訂條款指數期權系列即停止交易，而兩者的持倉將 分開處理。 交易所參與者若持有兩個系列的相反未平倉合約，可要 求結算公司按其程序執行內部平倉。 Hang Seng Index Options / 㞫生指數期權 Standard / 標準 Flexible / 自訂條款 Mini / 小型 Underlying Index / 相關指數 Hang Seng Index / 㞫生指數 Product Code / 產品代號 HSI XHS MHI Contract Multiplier / 合約乘數 HK$50 per index point / 每指數點港幣$50 HK$10 per index point / 每指數點港幣$10 Minimum Fluctuation / 最低價格波幅 One index point / 一個指數點 Contract Months / 合約月份 Short-dated Options:- Spot, Any calendar month not further Short-dated Options:- Spot, next two ca