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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
20/06/2017 WP12017 ESMA working paper on collateral scarcity premia in Euro area repo markets Reference PDF
1.01 MB
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
01/12/2016 RD 2016/04 ESMA Risk Dashboard No. 4 2016 Reference PDF
848.82 KB
04/11/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
26.52 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.

21/10/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
41.18 KB
21/10/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
461.14 KB
04/01/2022 JC 2021 57 Mandate of the Joint Committee of the European Supervisory Authorities’ Sub- Committee on Cross Sectoral Developments, Risks and Vulnerabilities (Risk Sub-Committee) , Reference PDF
89.31 KB
17/12/2021 ESRB/2021/0104 Redacted ESRB response letter to ESMAs consultation , , Reference PDF
4.11 MB
22/03/2019 esma_50-158-1567 Presentation on short-termism Reference PDF
152.78 KB
07/06/2021 ESMA91-372-1367 Framework for the 2021 CCP ST exercise , , Reference PDF
524.2 KB
06/08/2019 ESMA74-361-85 DSC DAG application form Reference DOCX
38.58 KB
06/08/2019 ESMA74-361-75 Call for interest DAG members , Reference PDF
167.88 KB
06/12/2017 ESMA71-99-669 ESMA MIFID and MAR Data Systems , , , Reference PDF
208.06 KB
18/10/2022 ESMA71-99-2040 ACER and ESMA enhance cooperation to strengthen oversight of energy and energy derivative markets , , , , , Reference PDF
203.77 KB
29/07/2022 ESMA70-449-674 Response form call for evidence pre-hedging , Reference DOCX
752.93 KB
29/07/2022 ESMA70-449-672 Call for Evidence on pre-hedging , Reference PDF
245.25 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
06/05/2020 ESMA70-156-2803 Response form- SME Growth Markets , , Reference DOCX
771.99 KB
27/05/2019 ESMA70-145-1399 Response form for consultation on Guidelines on periodic information and notification of material changes to be submitted to ESMA by Trade Repositories , Reference DOCX
754.45 KB
13/04/2021 ESMA70-145-1398 IT_templates , Reference XLSX
170.32 KB

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