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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
19/05/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling Reference XLSX
40.34 KB
19/05/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Short Selling Reference PDF
449.2 KB
13/05/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
26.5 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.
25/04/2022 Overview recruitments Overview recruitments Careers, Vacancies Reference PDF
794.94 KB

Updated April 2022
08/04/2022 ESMA81-459-57 Working group on euro risk-free rates- 2 March 2022 minutes Benchmarks Reference PDF
969.61 KB
31/03/2022 ESMA81-459-52 Call for expression of interest issued towards administrators developing €STR-based forward-looking term structure as a fallback in EURIBOR-linked contracts Benchmarks Reference PDF
109.81 KB
02/03/2022 ESMA81-459-50 Working Group on Euro Risk-Free Rates – Work Programme for 2022/23 Benchmarks Reference PDF
186.08 KB
10/02/2022 ESMA 80-195-1352 Text mining ESG disclosures in rating agency press releases Credit Rating Agencies, Innovation and Products, Sustainable finance Reference PDF
403.58 KB
28/01/2022 ESMA 80-416-252 Response Form- CP Revision to Guidelines and Recommendations on the Scope of the CRA Regulation Credit Rating Agencies Reference DOCX
622.67 KB
26/01/2022 ESMA81-459-44 Minutes of the euro risk-free rates WG Meeting 03/12/2021 Benchmarks Reference PDF
209.54 KB
04/01/2022 ESMA64-80-243 ED decision on the extension of reserve lists ending 31/12/2021 Careers Reference PDF
82.35 KB
14/12/2021 ESMA32-380-143 National thresholds for shareholder identification under the revised SRD Corporate Finance, Corporate Governance Reference PDF
130.51 KB
29/10/2021 ESMA81-459-11 Minutes of the euro risk-free rates WG meeting 29/09/2021 Benchmarks Reference PDF
219.45 KB
24/09/2021 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Short Selling Reference PDF
158.57 KB
24/09/2021 ESMA70-156-3914 Response form- Consultation Paper on the review of certain aspects of the SSR Short Selling Reference DOCX
751.38 KB
18/08/2021 ESMA81-391-72 Minutes of the euro risk-free rates WG Meeting 01/07/2021 Benchmarks Reference PDF
148.4 KB
11/08/2021 ESMA64-337-1278 ESMA Candidate Guidelines Careers Reference PDF
299.42 KB
26/07/2021 ESMA81-391-73 Recommendations from the Working Group on Euro Risk-Free Rates on the switch to risk free rates in the interdealer market Benchmarks Reference PDF
141.6 KB
12/07/2021 ESMA81-391-70 Call for expression of interest Working Group on Euro Risk-Free Rates Benchmarks Reference PDF
134.47 KB
12/05/2021 ESMA64-77-335 ESMA traineeship Policy Careers Reference PDF
294.48 KB

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