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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
28/09/2021 ESMA71-99-1735 ESMA Work Programme 2022 , , , , Press Release PDF
89.19 KB
24/09/2021 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
158.57 KB
24/09/2021 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
39.23 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
24/09/2021 ESMA70-156-3914 Consultation Paper on the review of certain aspects of the Short Selling Regulation Consultation Paper PDF
1.19 MB
23/09/2021 ESMA32-61-468 Third Agenda Consultation letter to EFRAG , , Letter PDF
355.42 KB
23/09/2021 ESMA32-61-457 Third Agenda Consultation letter to the IASB , , Letter PDF
355.57 KB
23/09/2021 ESMA71-99-1734 Press Release- ESMA fines UnaVista trade repository €238500 for EMIR data failures , , Press Release PDF
125.85 KB
01/09/2021 ESMA31-67-535 Practical Guide on notifications of major holdings under the Transparency Directive , , Reference PDF
1 MB
01/09/2021 ESMA71-99-1720 ESMA sees risk of market corrections in uneven recovery , Press Release PDF
91.28 KB
11/08/2021 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
484.04 KB
04/08/2021 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
26.08 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.

23/07/2021 ESMA32-334-419 Response to IFRS Foundation- Changes to the Constitution for a future ISSB , Letter PDF
159.18 KB
19/07/2021 ESMA32-60-254 ESEF Reporting Manual track changes Reference PDF
627.83 KB
15/07/2021 ESMA71-99-1709 Press Release- ESMA SPACs statement , , Press Release PDF
91.75 KB
12/07/2021 ESMA71-99-1715 Press Release- DTCC Derivatives Repository fined €408,000 for EMIR data breaches , , Press Release PDF
128.95 KB
25/06/2021 ESMA71-99-1701 Press_Release_Registration of SRs , Press Release PDF
80.69 KB
16/06/2021 ESMA71-99-1694 ESMA's 2020 Annual Report , , , Press Release PDF
116.59 KB
07/06/2021 ESMA91-372-1367 Framework for the 2021 CCP ST exercise , , Reference PDF
524.2 KB
31/05/2021 ESMA32-60-727 Final Report draft RTS amending RTS on ESEF 2021 , Final Report PDF
9.47 MB

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