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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
05/12/2019 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling Reference XLSX
44.28 KB
05/12/2019 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Short Selling Reference PDF
515.94 KB
04/12/2019 ESMA70-21038340-46 Compliance table for the Guidelines on market making activities under the Short Selling Regulation Guidelines and Technical standards, Market Integrity, Short Selling Compliance table PDF
273.01 KB
04/11/2019 esma22-105-1073 Annex_to_the_opening_statement_for_econ_hearing_4_november_2019 Short Selling Speech PDF
389.38 KB
11/09/2019 ESMA32-60-494 ESEF Video Tutorial 3_Script European Single Electronic Format Reference PDF
112.13 KB
31/07/2019 ESMA31-67-535 Practical Guide on notifications of major holdings under the Transparency Directive Corporate Disclosure, Corporate Information, Transparency Reference PDF
643.2 KB
12/07/2019 ESMA32-60-254 ESEF Reporting Manual European Single Electronic Format Reference PDF
679.1 KB
19/06/2019 ESMA74-362-27 Keynote by ESMA Chair at Eurofiling – European Central Bank conference European Single Electronic Format Speech PDF
250.93 KB
07/06/2019 ESMA32-60-474 Draft RTS amending Delegated Regulation (EU) 2018/815 on the updates of the taxonomy to be used for the ESEF Corporate Disclosure, European Single Electronic Format Final Report PDF
6.5 MB
11/04/2019 ESMA31-67-127 Question and answers on Transparency Directive (TD) Brexit, Corporate Disclosure, Corporate Finance, Supervisory convergence, Transparency Q&A PDF
354.59 KB
21/03/2019 ESMA32-60-440 ESMA ESEF Taxonomy 2017 European Single Electronic Format Reference ZIP
10.62 MB

ESEF Taxonomy 2017- entry points
21/03/2019 ESMA32-60-417 ESEF XBRL Taxonomy Documentation European Single Electronic Format Reference PDF
295.92 KB
21/03/2019 ESMA32-60-44 ESEF Validation rules European Single Electronic Format Reference XLSX
179.34 KB
21/03/2019 ESMA32-60-439 ESEF Taxonomy architecture European Single Electronic Format Reference PDF
180.54 KB
24/01/2019 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Short Selling Reference PDF
80.26 KB
19/11/2018 ESMA32-60-403 Video Tutorial on the European Single Electronic Format- Script European Single Electronic Format Reference PDF
166.3 KB
31/10/2018 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
27.23 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.
23/08/2018 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Short Selling Reference PDF
227 KB
29/05/2018 ESMA70-145-408 Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR) Short Selling Q&A PDF
536.17 KB
05/03/2018 ESMA70-145-386 Technical Advice on the evaluation of certain elements of the Short Selling Regulation Short Selling Final Report PDF
1.72 MB

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