How to calculate margin for portfolios

When you hold multiple contracts which form a portfolio, the overall margin requirement for the portfolio will be lower.

For example, if your portfolio is composed of futures contracts only, the margin for the portfolio will be the margin for the futures contract comprising the portfolio with the highest margin requirement.

If your portfolio contains Hong Kong index options contracts, there will be an intracommodity spread charge apart from the margin for the contract comprising the portfolio with the highest margin requirement.

Notes: If all the contracts comprising a portfolio are long index options positions, the upper limit of the margin requirement will be the long position value of the portfolio.