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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/01/2021 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Reference PDF
371.24 KB
13/05/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
34.08 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.

11/03/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
40.61 KB
11/03/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
448.67 KB
26/11/2020 ESMA74-362-991 Response Form CP DRSP Fees , , Reference DOCX
760.67 KB
26/11/2020 ESMA74-362-991 Reponse form CP DRSP Criteria for Derogation , Reference DOCX
761.38 KB
06/01/2020 ESMA74-362-388 LEI statement SFTR Reference PDF
105.88 KB
28/05/2021 esma74-362-2009 Response_form_Response_form_-_Consultation Paper on the Guidelines on Transfer of Data , , Reference DOCX
776.32 KB
29/03/2021 ESMA74-362-1937 response form- Technical Advice on simplification TR fees under SFTR and EMIR , Reference DOCX
757.95 KB
06/08/2019 ESMA74-361-75 Call for interest DAG members , Reference PDF
167.88 KB
16/07/2020 ESMA71-99-1369 Timeline of upcoming MiFID II Review Reports ESMA pager Reference PDF
88.04 KB
28/01/2022 ESMA70-156-4978 reply form Reply form for the Consultation Paper on the Opinion on Trading Venue perimeter , , Reference DOCX
418.16 KB
09/07/2021 ESMA70-156-4236 Response form- Consultation Paper on the review of RTS 1 and 2 Reference DOCX
775.23 KB
18/12/2020 ESMA70-156-4086 Response Form CP on Algorithmic Trading , Reference DOCX
754.86 KB
24/09/2021 ESMA70-156-3914 Response form- Consultation Paper on the review of certain aspects of the SSR Reference DOCX
751.38 KB
28/09/2020 ESMA70-156-3844 Response form- CP on the functioning of OTFs , Reference DOCX
753.44 KB
08/10/2020 ESMA70-156-3430 Call for Evidence_RTS 1 and RTS 2 Review Reference XLSX
8.99 MB
16/07/2020 ESMA70-156-2756 MiFIDII MiFIR report on systematic internalisers Reference PDF
818.99 KB
16/07/2020 ESMA70-156-2682 MiFIDII MiFIR report on Transparency Equity DVC TOS Reference PDF
808.99 KB
03/02/2020 ESMA70-156-2347 Response form- CP on MiFIR report on SI Reference DOCX
755.71 KB