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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
02/08/2021 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.56 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.

27/05/2021 esma82-402-514 Response_form_CP_STS_RTS_ITS_SECR Reference DOCX
770.72 KB
25/05/2021 ESMA-50-164-4518 response form Call for evidence on digital finance- response form Reference DOCX
749.6 KB
29/03/2021 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
117.25 KB
09/02/2021 ESAs 2021 07 ESAs letter on DORA , Letter PDF
142.91 KB
15/01/2021 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
166.56 KB
12/01/2021 ESMA WP-2021-02 ESMA working paper on equity funds and derivatives , Reference PDF
673.7 KB
11/01/2021 ESMA WP-2021-01 ESMA working paper on funds and single-name CDS: Hedging or Trading? Reference PDF
591.74 KB
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
21/12/2020 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
39.31 KB
21/12/2020 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
466.94 KB
14/12/2020 ESMA50-157-2413 Call for expressions of interest: Consultative Working Group for ESMA’s Financial Innovation Standing Committee Reference PDF
186.13 KB
03/11/2020 ESMA33-128-760 Securitisations designated as STS as from 01/01/2019 Regulation 2402/2017 Reference XLSX
108.07 KB
15/09/2020 ESMA65-8-6469 Securitisation Disclosure Templates Reporting Instructions-Dec 2019 Reference PDF
839.83 KB
19/08/2020 esma65-8-6469 securitisation_disclosure_templates_xml_schema_1.1.0 Reference ZIP
8.04 MB
19/08/2020 esma65-8-6469 securitisation_disclosure_templates_xml_schema_1.2.0 Reference ZIP
8.18 MB
19/08/2020 ESMA65-8-6469 Securitisation Disclosure Templates Reporting Instructions Reference PDF
1.01 MB
29/06/2020 ESMA50-164-3475 Coverletter- ESMA response to EC consultation on a new Digital Finance Strategy for Europe Letter PDF
87.97 KB
17/06/2020 ESMA33-128-777 List of designated competent authorities under Securitisation Regulation Reference PDF
208.6 KB
03/06/2020 ESMA50-164-3342 response form Draft Guidelines on Outsourcing to Cloud Service Providers- response form Reference DOCX
746.68 KB

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