Products	Large Open Positions / Reporting level	Position Limits
Hang Seng Index Futures (HSIF)	500 open contracts, in any one Contract Month	10,000 position delta for HSIF, HSIO, MHIF and MHIO combined in all Contract Months. The position delta for MHIF or MHIO contracts shall not at any time exceed 2,000  (The position delta of one MHIF Contract will have a value of 0.2 and the position delta of one MHIO Contract will be one-fifth of the position delta of the corresponding series in the HSIO Contract)
Hang Seng Index Options (HSIO)	500 open contracts, in any one series
Mini-Hang Seng Index Futures (MHIF)	2,500 open contracts, in any one Contract Month
Mini-Hang Seng Index Options (MHIO)	2,500 open contracts, in any one series
H-shares Index Futures (HHIF)	500 open contracts, in any one Contract Month	12,000 position delta for HHIF, HHIO & MCHF combined in all Contract Months.  The position delta for MCHF shall not at any time exceed 2,400 (The position delta of one MCHF Contract will have a value of 0.2)
H-shares Index Options (HHIO)	500 open contracts, in any one series
Mini H-shares Index Futures (MCHF)	2,500 open contracts, in any one Contract Month
Stock Futures	1,000 open contracts, in any one Contract Month	5,000 open contracts, in any one Contract Month
Stock Options	1,000 open contracts, per option class per expiry month	50,000 open contracts, per option class in any one market direction* for all expiry months combined except for a number of option classes, For details please refer to: http://www.hkex.com.hk/prod /so/classlist_so.htm
One-Month HIBOR Futures	1,000 open contracts, in any one Contract Month; or 4,000 open contracts, in all Contract Months	NIL
Three-Month HIBOR Futures	1,000 open contracts in any one Contract Month; or 4,000 open contracts, in all Contract Months	NIL
Three Year Exchange Fund Note Futures	1,000 open contracts, in any one Contract Month; For Spot Month contracts during the last 6 trading days; 200 open contracts	5,000 open contracts, in any one Contract Month For the Spot Month Contract during the last 6 Trading Days,  1,000 open contracts
Gold Futures	500 open contracts, in any one Contract Month	NIL

* long calls/short puts combined are in one direction and short calls/long puts combined are in another direction.

For detail descriptions of Large Open Positions / Reporting level and Position Limits, please refer to Regulatory Framework and Rules ( http://www.hkex.com.hk/regulatory.htm ) session

Please also refer to SFC's Guidance Note on Position Limits and Large Open Position Reporting Requirements, which is available in SFC's website : www.sfc.hk