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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 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.

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
19/07/2022 ESMA74-362-893 QAs on SFTR data reporting , , Q&A PDF
405.28 KB
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
28/06/2022 ESMA02-91-3297 ESMA Final Accounts Financial Year 2021 , , , Reference PDF
685.48 KB
01/06/2022 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
97.14 KB
20/04/2022 ESMA80-187-945 Verena Ross' speech at ECMI/CEPS Webinar, 20 April 2022 , , Speech PDF
178.1 KB

Verena Ross' speech at ECMI/CEPS Webinar, 20 April 2022: "ESMA – driving forward high-quality supervision and transparency in a single EU capital market"

31/03/2022 ESMA42-111-6889 Follow-up to GLEFI Peer Review Report , Reference PDF
429.7 KB
28/03/2022 ESMA41-387-154 Rules of procedure on mediation Reference PDF
234.94 KB
24/03/2022 ESMA41-356-274 Public notice on REGIS TR, S.A. , Reference PDF
183.48 KB
18/03/2022 ESMA71-319-210 ESMA_Speech_Verena_Ross_EACT_Summit , , , Speech PDF
152.66 KB
10/02/2022 ESMA 80-195-1352 Text mining ESG disclosures in rating agency press releases , , Reference PDF
403.58 KB
28/01/2022 ESMA 80-416-252 Response Form- CP Revision to Guidelines and Recommendations on the Scope of the CRA Regulation Reference DOCX
622.67 KB
27/01/2022 ESMA43-318-11471 Breach of union law investigations Reference PDF
110.88 KB

Updated on 27 January 2022

14/10/2021 ESMA24-436-15 Annex to the Opening Statement ECON Hearing 14 October 2021 , , , , , , , , , Speech PDF
415.73 KB
14/10/2021 ESMA24-436-13 Opening Statement ECON Hearing 14 October 2021 , , , , , , , , , Speech PDF
690.55 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
29/07/2021 ESMA33-5-87 Q&A on the Implementation of the Regulation (EU) No 462 2013 On CRA Q&A PDF
409.83 KB

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