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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
05/11/2019 esma70-156-1484 Reply Form to Consultation on Position Limits Reference DOCX
748.79 KB
04/10/2019 ESMA70-156-1759 Response Form- Alignment of MiFIR with the changes introduced by EMIR Refit , Reference DOCX
748.22 KB
03/10/2019 ESMA70-156-300 Public Register for the Trading Obligation for derivatives under MiFIR Reference PDF
194.6 KB
16/07/2019 ESMA 32-63-365 List of decisions published from the EECS’s Database of Enforcement Reference PDF
361.28 KB
12/07/2019 ESMA70-156-1471 Response Form- CP review report_cost of market data and consolidated tape equity Reference DOCX
757 KB
24/05/2019 ESMA Reply_form_CP_CRR_ITS Reference DOCX
774.81 KB
24/05/2019 ESMA70-156-1101 Reply Form Position Limits Reference DOCX
751.26 KB
24/05/2019 ESMA70-156-1101 Reply Form Position Limits Reference DOCX
751.26 KB
24/05/2019 ESMA70-156-1101 Call for evidence Position limits Reference PDF
314.72 KB
22/03/2019 esma35-36-1590 Presentation on CPs MIFID-UCITS-AIFMD , , Reference PDF
187.17 KB
11/03/2019 ESMA LEI 06/03/2019 EU rules on LEI- presentation Reference PDF
796.16 KB
24/01/2019 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
80.26 KB
19/12/2018 ESMA70-156-173 MiFID II list of supplementary deferral regimes Reference XLSX
57.45 KB
09/11/2018 ESMA70-156-785 Reply form Reply form for the Call for evidence on periodic auctions for equity instruments Reference DOCX
772.02 KB
09/11/2018 ESMA70-156-785 Call for evidence periodic auctions for equity instruments Reference PDF
537.4 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
08/08/2018 ESMA70-151-1462 ESMA70-151-1462 Communication on clearing and trading obligation for PF Reference PDF
123.91 KB

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