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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
26.41 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.
20/07/2022 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Short Selling Reference PDF
372.65 KB
19/07/2022 ESMA70-1861941480-56 Q&A on MiFIR data reporting MiFID - Secondary Markets, Supervisory convergence Q&A PDF
1.12 MB
18/07/2022 ESMA81-459-65 Working Group on Euro Risk-Free Rates- 17 June Meeting Minutes Benchmarks Reference PDF
3.32 MB
15/07/2022 ESMA70-872942901-38 Questions and Answers on MiFID II and MiFIR market structures topics MiFID - Secondary Markets Q&A PDF
489.31 KB
13/07/2022 ESMA65-8-9949 FIRDS User Guide v5.1 MiFID - Secondary Markets Reference PDF
2.06 MB
12/07/2022 ESMA70-156-6046 Opinion on classification of counterparties in weekly position reports MiFID - Secondary Markets Opinion PDF
97.67 KB
11/07/2022 ESMA70-460-117 Response Form- Consultation Paper on guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure Innovation and Products, MiFID - Secondary Markets Reference DOCX
752.81 KB
11/07/2022 ESMA70-460-34 Consultation Paper on Guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure Innovation and Products, MiFID - Secondary Markets Consultation Paper PDF
998.27 KB
08/07/2022 JC 2022 32 Mandate of the European Supervisory Authorities’ Joint Committee Sub-Committee on Digital Operational Resilience Innovation and Products, Joint Committee Reference PDF
586.3 KB
08/07/2022 ESMA81-393-513 Response form- RTS on recognition under the Benchmarks Regulation Benchmarks Reference DOCX
755.16 KB
08/07/2022 ESMA81-393-494 CP on Review of the RTS on the form and content of an application for recognition under the Benchmarks Regulation Benchmarks Consultation Paper PDF
541.62 KB
08/07/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling 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 Short Selling Reference PDF
443.4 KB
30/06/2022 ESMA22-106-4013 Letter from ESMA Chair to EC- Prioritisation of 2022 ESMA deliverables Corporate Information, Market Abuse, Market Integrity, MiFID - Secondary Markets, Post Trading, Trading Letter PDF
136.79 KB
29/06/2022 ESMA70-156-177 Compliance table for the Guidelines on the calibration of circuit breakers and publication of trading halts under MiFID II (ESMA70-872942901-63) MiFID - Secondary Markets Compliance table PDF
147.64 KB
23/06/2022 ESMA70-156-350 Compliance table- Guidelines on the management body of market operators and DRSPs under MiFID II Guidelines and Technical standards, MiFID - Secondary Markets Compliance table PDF
188.98 KB
23/06/2022 ESMA70-145-114 Q&A on the Benchmarks Regulation (BMR) Benchmarks, Supervisory convergence Q&A PDF
568.37 KB
21/06/2022 ESMA70-156-1411 Confirmation of compliance with Guidelines on the application of C6 and C7 of Annex 1 of MIFID II- COMPLIANCE TABLE MiFID - Secondary Markets Compliance table PDF
151.06 KB
09/06/2022 ESMA24-442-86 Verena Ross Speech at ICMA AGM, 9 June 2022 MiFID - Secondary Markets, Speeches, Sustainable finance Speech PDF
154.69 KB

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