Common use of HKFE’s Large Open Position Report Procedures Clause in Contracts

HKFE’s Large Open Position Report Procedures. The HKFE has also set large open position limits in a number of markets operated by the HKFE. In particular, I/We understand and acknowledge that I/we shall have direct reporting obligations to the HKFE where I/we hold or control, in aggregate, open positions equal to or more than the number of futures contracts and/or options contracts specified by HKFE from time to time, whether directly or through my/our associate, and whether through one or more participants of the HKFE, in which event I/we shall be required to file a Large Open Position Report with the HKFE. For the purposes of the HKFE Rules, large open position means the number of open Futures Contracts and/or Options Contracts in a particular futures contract month or option series in a particular market determined by the Board (as defined in the HKFE Rules) to be a Large Open Position pursuant to Rules 628 of the HKFE Rules. This is similar to the concept of “reportable position” prescribed in the Rules. A sample of the reporting form is available from Xxx Eng Futures (Hong Kong) Limited on request. Please refer to the website of Hong Kong Exchanges and Clearing Limited (xxxx://xxx.xxxx.xxx.xx/eng/market/dv_tradfinfo/lop.htm) for a schedule of the prescribed limits and reporting level for some of the corresponding Futures Contract or Options Contract under the HKFE Rules (which forms an integral part of this Additional Terms and is subject to change from time to time without prior notice). A copy of the schedule is available from Xxx Eng Futures (Hong Kong) Limited on request.