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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
16/08/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling Reference XLSX
40.1 KB
16/08/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Short Selling Reference PDF
481.8 KB
10/08/2022 ESMA35-42-1305 ESCPR- Miscellaneous reporting to ESMA Crowdfunding, MiFID - Investor Protection Reference PDF
376.52 KB
09/08/2022 CPD22 Joint ESAs Consumer Protection Day- Programme Joint Committee, MiFID - Investor Protection Reference PDF
619.11 KB
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
26.41 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.
29/07/2022 ESMA70-449-672 Call for Evidence on pre-hedging Market Abuse, Market Integrity Reference PDF
245.25 KB
29/07/2022 ESMA70-449-674 Response form call for evidence pre-hedging Market Abuse, Market Integrity Reference DOCX
752.93 KB
28/07/2022 C 2022 1931 SFDR Templates Joint Committee, Sustainable finance Reference ZIP
1.44 MB
20/07/2022 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Short Selling Reference PDF
372.65 KB
20/07/2022 ESMA50-164-2193 TRV Article_Key Retail Risk Indicators for the EU single market MiFID - Investor Protection, Risk Analysis & Economics - Markets Infrastructure Investors Reference PDF
419.1 KB
19/07/2022 JC 2022 30 Joint Committee's Rules of Procedures Joint Committee Reference PDF
654.7 KB
19/07/2022 ESMA74-362-893 QAs on SFTR data reporting Post Trading, Securities Financing Transactions, Trade Repositories Q&A PDF
405.28 KB
19/07/2022 ESMA70-1861941480-56 Q&A on MiFIR data reporting MiFID - Secondary Markets, Supervisory convergence Q&A PDF
1.12 MB
15/07/2022 ESMA70-872942901-38 Questions and Answers on MiFID II and MiFIR market structures topics MiFID - Secondary Markets Q&A PDF
489.31 KB
13/07/2022 ESMA65-8-9949 FIRDS User Guide v5.1 MiFID - Secondary Markets Reference PDF
2.06 MB
11/07/2022 ESMA70-460-117 Response Form- Consultation Paper on guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure Innovation and Products, MiFID - Secondary Markets Reference DOCX
752.81 KB
08/07/2022 JC 2022 32 Mandate of the European Supervisory Authorities’ Joint Committee Sub-Committee on Digital Operational Resilience Innovation and Products, Joint Committee Reference PDF
586.3 KB
07/07/2022 ESMA42-110-812 Notifications of Compliance with Guidelines – Overview Table Guidelines and Technical standards Reference XLSX
131.17 KB
01/07/2022 ESMA41-140-79 Technical standards Corporate Information, Guidelines and Technical standards Reference XLSX
173.59 KB
23/06/2022 ESMA70-145-111 Q&A on the Market Abuse Regulation Market Abuse, Market Integrity Q&A PDF
470.97 KB

The purpose of this document is to promote common supervisory approaches and practices in the application of MAR and its implementing measures. It does this by providing responses to questions posed by the general public and competent authorities in relation to the practical application of the MAR framework

The content of this document is aimed at competent authorities to ensure that in their supervisory activities and their actions are converging along the lines of the responses adopted by ESMA and at helping issuers, investors and other market participants by providing clarity on the content of the market abuse rules, rather than creating an extra layer of requirements.

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