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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
05/12/2019 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
44.28 KB
05/12/2019 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
515.94 KB
02/12/2019 esma31-62-1193 List of prospectus thresholds , , Reference PDF
217.26 KB
31/07/2019 ESMA31-67-535 Practical Guide on notifications of major holdings under the Transparency Directive , , Reference PDF
643.2 KB
15/07/2019 ESMA32-61-353 ESMA response to the EFRAG consultation on Equity Instruments – Research On Measurement Project Reference PDF
233.05 KB
22/03/2019 esma32-334-93 Presentation on users needs in relation to corporate reporting Reference PDF
197.42 KB
24/01/2019 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
80.26 KB
09/01/2019 ESMA32-65-97 Call for expressions of interest: Consultative Working Group for ESMA’s Corporate Reporting Standing Committee Reference PDF
425.69 KB
09/01/2019 ESMA32-65-97 Application form: Consultative Working Group for ESMA’s Corporate Reporting Standing Committee Reference DOCX
38.2 KB
31/10/2018 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.23 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.

23/08/2018 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
227 KB
18/05/2018 ESMA32-65-42 CRSC Terms of Reference Reference PDF
198.38 KB
18/05/2018 ESMA31-69-78 CFSC Terms of Reference Reference PDF
208.33 KB
04/12/2017 ESMA31-69-163 FORM Application form for CFSC CWG , Reference DOCX
34.73 KB
04/12/2017 ESMA31-69-163 Call for expressions of interest for the Consultative Working Group of ESMA’s Corporate Finance Standing Committee (CFSC) , Reference PDF
275.59 KB
27/10/2017 ESMA32-63-364 Summary of results of the fact finding exercise on IFRS 9 and IFRS 15 , Reference PDF
292.46 KB
28/06/2017 ESMA32-60-196 Call for volunteers- Field test European Single Electronic format (ESEF) , Reference PDF
251.41 KB
11/05/2017 ESMA32-60-172 Invitation to the ESMA European Single Electronic Format Meet-the-Market Workshop , , Reference PDF
270.83 KB
05/01/2017 ESMA32-65-68 Call for expressions of interest Consultative Working Group for ESMA's Corporate Reporting Standing Committee (CRSC) , Reference PDF
369.22 KB
05/01/2017 ESMA32-65-67 Application Form for CRSC CWG , Reference DOCX
38.09 KB