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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
31/03/2021 ESMA31-62-1258 Q&As on the Prospectus Regulation Q&A PDF
682.31 KB
29/03/2021 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
117.25 KB
02/03/2021 ESMA32-60-709 ESMA's response to EC targeted consultation on ESAP Reference PDF
272.76 KB
29/01/2021 ESMA 80-196-5030 Response form to Public Consultation on Fees charged to Credit Rating Agencies by ESMA Reference DOCX
751.49 KB
28/01/2021 ESMA32-384-5080 Languages accepted for scrutiny of the Prospectus and translation requirements for Summaries Reference PDF
171.3 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
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
04/01/2021 EU-UKFCA MoU EU-UK FCA MoU on consultation, cooperation and exchange of information , Reference PDF
219.12 KB
04/01/2021 ESMA-UKFCA MoU ESMA-UK FCA MoU on consultation, cooperation and exchange of information , Reference PDF
195.27 KB
21/12/2020 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
40.79 KB
21/12/2020 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
456.01 KB
18/11/2020 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
25.54 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.

23/10/2020 ESMA31-62-1193 List of prospectus thresholds , , Reference PDF
220.58 KB
12/10/2020 ESMA22-105-1230 Annex to Opening Statement for ECON Hearing 12 October 2020 , , , , Reference PDF
350.51 KB
08/07/2020 ESMA33-5-852 Response Form for the Call for Evidence on Access and Use of Credit Ratings_Questionnaire C Reference DOCX
747.02 KB
08/07/2020 ESMA33-5-850 Response Form for the Call for Evidence on Access and Use of Credit Ratings_Questionnaire B Reference DOCX
740.64 KB
08/07/2020 ESMA33-5-851 Response Form for the Call for Evidence on Access and Use of Credit Ratings_Questionnaire A Reference DOCX
744.26 KB
17/06/2020 ESMA63-46-710 Policy on the reimbursement for external persons , Reference PDF
265.73 KB
17/06/2020 ESMA63-46-716 Policy on the reimbursement of candidates and trainees , Reference PDF
237.6 KB
04/06/2020 ESMA41-356-82 Public Notice- Scope Ratings GmbH Reference PDF
138.38 KB

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