The newly recalculated Reserve Fund Requirement pursuant to SEOCH Rule 407 has resulted in a new market total Variable Contribution (“VC”) of HK$355 million, to be shared by all SEOCH Participants based on their daily average total margin requirement and net premium paid during the period from 22 November 2022 to 21 February 2023. Therefore, all SEOCH Participants must ensure their contributions are updated within this time frame to comply with SEOCH Rule 407.
The Reserve Fund Contribution Notice report (RP008) contains information regarding the VC requirement of each participant. Participants should log in to the SEOCH system and download the report before 4:00 p.m. on 23 February 2023 to view their respective VC amounts due/surplus. The required/surplus amounts will be released to Participants’ accounts with Designated or Settlement Banks by 4:00 p.m. on 23 February 2023. All VC due must be credited to SEOCH Participant’s accounts before the designated deadline for the participant to remain compliant with the system operations of SEOCH.