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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
14/10/2021 ESMA24-436-15 Annex to the Opening Statement ECON Hearing 14 October 2021 Board of Supervisors, Brexit, CCP Directorate, Corporate Information, Credit Rating Agencies, Innovation and Products, Joint Committee, Speeches, Supervisory convergence, Sustainable finance Speech PDF
415.73 KB
14/10/2021 ESMA24-436-13 Opening Statement ECON Hearing 14 October 2021 Board of Supervisors, Brexit, CCP Directorate, Corporate Information, Credit Rating Agencies, Innovation and Products, Joint Committee, Speeches, Supervisory convergence, Sustainable finance Speech PDF
690.55 KB
14/10/2021 ESMA ED Calendar 2021 calendar of the Executive Director of ESMA Corporate Information Reference PDF
59.99 KB
12/10/2021 ESMA82-402-683 Final Report on STS notification for synthetic securitisations Securitisation Final Report PDF
795.09 KB
11/10/2021 ESMA22-440-223 ESMA Staff Stakeholder contacts in the third quarter 2021 Corporate Information Reference PDF
98.52 KB
08/10/2021 ESMA74-362-2159 ESMA as a data driven regulator and supervisor- AFME 5th Annual European Compliance and Legal Virtual Conference Market data, MiFID - Secondary Markets, MiFID II: Transparency Calculations and DVC, Post Trading, Risk Analysis & Economics - Markets Infrastructure Investors, Securitisation, Speeches, Supervisory convergence, Trade Repositories, Transparency Speech PDF
167.18 KB
28/09/2021 ESMA71-99-1735 ESMA Work Programme 2022 Board of Supervisors, Corporate Information, Management Board, Planning reporting budget, Press Releases Press Release PDF
89.19 KB
28/09/2021 ESMA20-95-1430 2022 Annual Work Programme Board of Supervisors, Corporate Information, Management Board, Planning reporting budget Report PDF
589.43 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 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling Reference XLSX
39.23 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
24/09/2021 ESMA70-156-3914 Consultation Paper on the review of certain aspects of the Short Selling Regulation Short Selling Consultation Paper PDF
1.19 MB
13/09/2021 ESMA41-140-79 Technical standards Corporate Information, Guidelines and Technical standards Reference XLSX
134.57 KB
08/09/2021 ESMA33-128-760 Securitisations designated as STS as from 01/01/2019 Regulation 2402/2017 Securitisation Reference XLSX
112.23 KB
01/09/2021 ESMA Independent Member of CCP SC N. Giusto Calendar 2021 Calendar Independent Member of CCP SC N. Giusto Corporate Information Reference PDF
171.33 KB
01/09/2021 ESMA Independent Member of CCP SC F. Wendt Calendar 2021 Calendar Independent Member of CCP SC F. Wendt Corporate Information Reference PDF
179.39 KB
01/09/2021 ESMA Chair of CCP SC Calendar 2021 Calendar ESMA Chair of CCP Supervisory Committee Corporate Information Reference PDF
205.13 KB
01/09/2021 ESMA31-67-535 Practical Guide on notifications of major holdings under the Transparency Directive Corporate Disclosure, Corporate Information, Transparency Reference PDF
1 MB
11/08/2021 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Short Selling Reference PDF
484.04 KB
04/08/2021 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
26.08 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.

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