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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
16/09/2022 ESMA71-102-173 ESMA Q&As- list of questions currently under development Reference XLSX
133.5 KB
16/08/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
40.1 KB
16/08/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
481.8 KB
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers 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.

29/07/2022 ESMA70-449-672 Call for Evidence on pre-hedging , Reference PDF
245.25 KB
29/07/2022 ESMA70-449-674 Response form call for evidence pre-hedging , Reference DOCX
752.93 KB
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
01/06/2022 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
97.14 KB
24/03/2022 ESMA41-356-274 Public notice on REGIS TR, S.A. , Reference PDF
183.48 KB
09/03/2022 ESMA90-1-163 Multilateral Memorandum of Understanding on Cooperation for Information Sharing Regarding Participants in a Clearing or Settlement System , Reference PDF
630.61 KB
15/02/2022 ESMA32-384-5357 Annex- Response to EC targeted consultation on the Listing Act , , Reference PDF
836.77 KB
14/01/2022 ESMA70-151-3061 Methodology for Mandatory Peer Reviews in relation to CCPs’ authorisation and supervision under EMIR , Reference PDF
339.83 KB
24/11/2021 ESMA22-106-3734 SMSG advice to ESMA on its Consultation Paper on the review of certain aspects of the Short Selling Regulation , SMSG Advice PDF
167.66 KB
23/11/2021 ESMA70-156-4673 Annual Report on MAR administrative and criminal sanctions 2021 Annual Report PDF
338.34 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 ESMA70-156-3914 Response form- Consultation Paper on the review of certain aspects of the SSR Reference DOCX
751.38 KB
23/09/2021 ESMA41-356-234 Public Notice- UnaVista Limited Reference PDF
259.16 KB
15/07/2021 ESMA70-156-4731 Response form for the Consultation Paper on MAR Guidelines Reference DOCX
753.44 KB
12/07/2021 ESMA41-356-224 Public Notice- DTCC Derivatives Repository , Reference PDF
151.07 KB
28/05/2021 esma74-362-2009 Response_form_Response_form_-_Consultation Paper on the Guidelines on Transfer of Data , , Reference DOCX
776.32 KB

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