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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
29/03/2021 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
117.25 KB
01/02/2021 ESMA50-164-4105 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2019 , Reference PDF
109.68 KB
15/01/2021 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
166.56 KB
04/01/2021 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Reference PDF
371.24 KB
04/01/2021 EU-UKFCA MoU EU-UK FCA MoU on consultation, cooperation and exchange of information , Reference PDF
219.12 KB
04/01/2021 ESMA-UKFCA MoU ESMA-UK FCA MoU on consultation, cooperation and exchange of information , Reference PDF
195.27 KB
21/12/2020 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
40.84 KB
21/12/2020 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
456.55 KB
18/11/2020 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.56 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.

11/11/2020 ESMA50-165-1371 ESMA Risk Dashboard No. 2 2020 Reference PDF
621.57 KB
12/10/2020 ESMA22-105-1230 Annex to Opening Statement for ECON Hearing 12 October 2020 , , , , Reference PDF
350.51 KB
02/09/2020 ESMA50-165-1274 ESMA report on trends, risks and vulnerabilities no.2 2020- statistical annex Reference PDF
3.26 MB
14/05/2020 ESMA50-165-1179 ESMA Risk Dashboard No. 1 2020 Reference PDF
649.24 KB
19/02/2020 ESMA50-165-1041 ESMA TRV No 1 2020 Annex Reference PDF
1.54 MB
23/12/2019 ESMA50-164-2969 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2018 , Reference PDF
146.79 KB
28/11/2019 ESMA50-165-1009 ESMA Risk Dashboard No. 4 2019 Reference PDF
593.2 KB
10/09/2019 ESMA50-165-884 ESMA Risk Dashboard No. 3 2019 Reference PDF
618.93 KB
10/09/2019 ESMA50-165-875 ESMA report on trends, risks and vulnerabilities no.2 2019- statistical annex Reference PDF
1.39 MB
22/03/2019 esma_50-158-1567 Presentation on short-termism Reference PDF
152.78 KB
11/02/2019 ESMA35-43-1493 MiFID II supervisory briefing on the use of third-country branches by EU firms , , Reference PDF
469.29 KB