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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
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
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers 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.

08/07/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS 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 Reference PDF
443.4 KB
09/03/2020 ESMA80-199-332 ESMA Supervision- Annual Report 2019 and Work Programme 2020 , , , , Annual Report PDF
825.72 KB
06/01/2020 ESMA74-362-388 LEI statement SFTR Reference PDF
105.88 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
29/03/2021 ESMA74-362-1937 response form- Technical Advice on simplification TR fees under SFTR and EMIR , Reference DOCX
757.95 KB
06/12/2017 ESMA71-99-669 ESMA MIFID and MAR Data Systems , , , Reference PDF
208.06 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
27/05/2019 ESMA70-151-2371 Response form to consultation on Guidelines for reporting under Articles 4 and 12 SFTR Reference DOCX
757.3 KB
27/05/2019 ESMA70-151-1019 Consolidated SFTR_Validation_Rules Reference XLSX
120.19 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
01/06/2022 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
97.14 KB
22/12/2017 ESMA50-164-677 FAQs on MiFID II- Transitional Transparency Calculations , Reference PDF
303.58 KB
27/03/2018 ESMA33-128-212 reply form Reply form- Consultation Paper TA Fees Securitisation Repositories Reference DOCX
766.76 KB
27/03/2018 ESMA33-128-109 reply form Reply form- Consultation Paper Securitisation Repositories Application Reference DOCX
767.02 KB
10/12/2021 ESMA32-60-796 ESEF Conformance Suite Documentation 2021 Reference PDF
670.73 KB
10/12/2021 ESMA32-60-795 ESEF Conformance Suite 2021 Reference XLSX
49.05 KB
10/12/2021 ESMA32-60-793 ESEF Validation Rules 2021 Reference XLSX
207.04 KB