Prescribed Limits and Reportable Large Open Position Sample Clauses

The "Prescribed Limits and Reportable Large Open Position" clause sets specific thresholds for the size of positions that parties can hold in certain financial instruments or markets. It typically requires parties to monitor their holdings and report to the relevant authority if their positions exceed a defined limit, ensuring transparency and regulatory oversight. This clause helps prevent market manipulation and excessive risk-taking by making large positions visible to regulators and enforcing compliance with established limits.
Prescribed Limits and Reportable Large Open Position. CIF at any time in its sole discretion or as required by the relevant rules and regulations, may limit the number of positions, which the Client may maintain or acquire through CIF. The Client agrees not to exceed the position limits established by the HKFE or any contract market, whether acting alone or with others, and to promptly advise CIF if the Client is required to file any reports on positions. Except for the Hang Seng Index (“HSI”) futures contract, HSI options contract, Mini-HSI futures contract and Mini-HSI options contract, Schedule 1 of Securities & Futures (Contracts Limits and Mini-HSI options contract are calculated on a net basis for all contract months combined. In order to facilitate the HKFE in monitoring market activities, the Rules requires a person holding a Reportable Position to notify the recognized exchange company of that reportable position in writing. Reportable Positions for futures contracts are specified in Schedule 1 of the Rules. Similar to the Prescribed Limits, the Reportable Positions for futures contracts are calculated based on the number of contracts held or controlled for a contract month.
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