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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
28.52 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.
29/07/2022 CPD22 Joint ESAs Consumer Protection Day- Programme Joint Committee, MiFID - Investor Protection Reference PDF
627.01 KB
29/07/2022 ESMA70-449-672 Call for Evidence on pre-hedging Market Abuse, Market Integrity Reference PDF
245.25 KB
29/07/2022 ESMA70-449-674 Response form call for evidence pre-hedging Market Abuse, Market Integrity Reference DOCX
752.93 KB
21/07/2022 ESMA71-99-1986 Press Release- ESMA finds NCAs' scrutiny and approval of prospectuses satisfactory Press Releases, Prospectus Press Release PDF
110.6 KB
21/07/2022 ESMA42-111-7170 Final Report- Prospectus Peer Review Prospectus Final Report PDF
2.01 MB
21/07/2022 ESMA35-36-2621 Final report EBA-ESMA on SREP guidelines under IFD MiFID - Investor Protection Final Report PDF
1.43 MB
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
20/07/2022 ESMA35-43-3327 Compliance table on Guidelines on certain aspects of the MiFID II appropriateness and execution only requirements Guidelines and Technical standards, MiFID - Investor Protection Compliance table PDF
322.1 KB
20/07/2022 ESMA50-164-2193 TRV Article_Key Retail Risk Indicators for the EU single market MiFID - Investor Protection, Risk Analysis & Economics - Markets Infrastructure Investors Reference PDF
419.1 KB
19/07/2022 ESMA35-43-3020 Joint compliance table on ESMA and EBA guidelines on the assessment of the suitability of members of the management body and key function holders Guidelines and Technical standards, MiFID - Investor Protection Compliance table PDF
320.25 KB
19/07/2022 ESMA74-362-893 QAs on SFTR data reporting Post Trading, Securities Financing Transactions, Trade Repositories Q&A PDF
405.28 KB
18/07/2022 ESMA81-459-65 Working Group on Euro Risk-Free Rates- 17 June Meeting Minutes Benchmarks Reference PDF
3.32 MB
12/07/2022 ESMA74-362-2566 Third updated LEI statement SFTR Market data, Post Trading, Securities Financing Transactions Statement PDF
130.43 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 ESMA35-43-3301 Report on Sanctions and measures imposed under MiFID II in 2021 MiFID - Investor Protection Report PDF
900.31 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
08/07/2022 ESMA35-43-3114 CP on Review of the Guidelines on MiFID II product governance requirements MiFID - Investor Protection Consultation Paper PDF
718.74 KB

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