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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
10/10/2018 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
42.15 KB
10/10/2018 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
750.86 KB
03/10/2018 ESMA71-99-1046 WP 2019 Press Release , , Press Release PDF
282.94 KB
03/10/2018 ESMA20-95-933 2019 Work Programme , , Reference PDF
470.98 KB
23/08/2018 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
227 KB
21/08/2018 ESMA02-91-1957 Audit Opinion on ESMA Final Accounts Financial Year 2017 , Reference PDF
937.4 KB
02/08/2018 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.45 KB

According to Article 7(2) of the Short Selling Regulation, ESMA has to publish a list of the thresholds applicable to the sovereign issuers for the purpose of the notification to competent authorities of significant net short position in sovereign debt.

The way these notification thresholds are defined is further specified in the Commission Delegated Regulation No 918/2012 (the “DR”). The DR specifies that initial threshold categories shall be:
1.0.1% applicable where the total amount of outstanding issued sovereign debt is between 0 and 500 billion euros;
2.0.5% applicable where the total amount of outstanding issued sovereign debt is above 500 billion euros or where there is a liquid futures market for the particular sovereign debt.

The additional incremental levels shall be set at 50% of the initial thresholds. The reporting thresholds shall be monetary amounts fixed by applying the percentage thresholds to the outstanding sovereign debt of the sovereign issuer. They will be revised and updated quarterly to reflect changes in the total amount of outstanding sovereign debt of each sovereign issuer.

In addition, the DR states that the amount of outstanding debt should be calculated using a duration adjusted approach. ESMA has published a Q&A document on how to proceed for the duration adjustment.

The table of thresholds contains the name of the sovereign issuer, the amount of outstanding debt duration adjusted, the initial threshold amount and the relevant percentage, the incremental threshold amount and the relevant percentage.

Please note that the figures of the amount of outstanding debt are duration adjusted (not nominal amounts) and are approximations provided by competent authorities.

19/06/2018 ESMA20-95-916 Annual Report 2017 , , Annual Report PDF
10.77 MB
29/05/2018 ESMA70-145-408 Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR) Q&A PDF
1 MB
28/05/2018 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
140.82 KB
26/04/2018 ESMA63-43-964 ESMA Budget Amendment n.1 for 2017 , , Reference PDF
204.31 KB
05/03/2018 ESMA70-145-386 Technical Advice on the evaluation of certain elements of the Short Selling Regulation Final Report PDF
1.72 MB
22/02/2018 ESMA70-145-441 ECON scrutiny session Short Selling Regulation Verena Ross Speech PDF
197.03 KB
07/02/2018 ESMA20-95-823 2018 Regulatory Work Programme , , , Reference PDF
251.91 KB
19/01/2018 ESMA63-43-874 ESMA Budget 2018 , , Reference PDF
194.52 KB
05/10/2017 ESMA20-95-619 2018 Work Programme , Report PDF
533.61 KB
14/09/2017 ESMA2016 EY Audit opinion on ESMA final accounts 2016 Reference PDF
3.57 MB
14/09/2017 ESMA2015 EY Audit opinion on ESMA final accounts 2015 Reference PDF
1.07 MB
07/07/2017 ESMA70-145-127 Consultation paper on the evaluation of the short-selling regulation , Consultation Paper PDF
1.46 MB
14/06/2017 ESMA20-95-590 Annual Report 2016 , , Annual Report PDF
2.94 MB

Corrigendum - date on the letter of assurance from the Executive Director on p81 had inadvertently been dated 14 June 2017, when the letter was signed on 2 June 2017. The date has been amended accordingly

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