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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
20/07/2022 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Reference PDF
372.65 KB
01/07/2021 Newsletter ESMA Newsletter June 2021 Reference PDF
8.14 MB
02/08/2021 Newsletter ESMA Newsletter July 2021 Reference PDF
5.04 MB
05/10/2021 Newsletter ESMA Newsletter September 2021 Reference PDF
3.82 MB
04/11/2021 Newsletter ESMA Newsletter October 2021 Reference PDF
6.29 MB
03/12/2021 Newsletter ESMA Newsletter November 2021 Reference PDF
11.2 MB
04/02/2022 Newsletter ESMA Newsletter December 2021 & January 2022 Reference PDF
11.29 MB
03/03/2022 Newsletter ESMA Newsletter February 2022 Reference PDF
8.71 MB
04/04/2022 Newsletter ESMA Newsletter March 2022 Reference PDF
7.07 MB
05/05/2022 Newsletter ESMA Newsletter April 2022 Reference PDF
11.82 MB
07/06/2022 Newsletter ESMA Newsletter May 2022 Reference PDF
8.52 MB
06/07/2022 Newsletter ESMA Newsletter June 2022 Reference PDF
12.17 MB
02/08/2022 Newsletter ESMA Newsletter July 2022 Reference PDF
10.96 MB
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
28.52 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.

08/07/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
41.05 KB
08/07/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
443.4 KB
07/04/2016 JC/2016/21 PR Joint Press Release draft RTS on PRIIPs , , Press Release PDF
207.66 KB
09/09/2015 JC/2015/2 Press release- ESAs see continued risks in EU financial markets and call for rigorous action on assets and liabilities , Press Release PDF
125.07 KB
04/12/2015 JC/2015/087 ESAs issue discussion paper on automation in financial advice , Press Release PDF
95.61 KB
11/11/2015 JC/2015/078 ESAs consult on PRIIPs key information for retail investors , , Press Release PDF
120.45 KB

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