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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/01/2021 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Short Selling Reference PDF
371.24 KB
14/02/2020 SMSG 2020 SMSG application form 2020 Securities and Markets Stakeholder Group Reference DOCX
38.1 KB
13/05/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Short Selling Reference XLSX
26.5 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.
19/05/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Short Selling Reference XLSX
40.34 KB
19/05/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Short Selling Reference PDF
449.2 KB
06/01/2020 ESMA74-362-388 LEI statement SFTR Securities Financing Transactions Reference PDF
105.88 KB
28/05/2021 esma74-362-2009 Response_form_Response_form_-_Consultation Paper on the Guidelines on Transfer of Data Market data, Securities Financing Transactions, Trade Repositories Reference DOCX
776.32 KB
29/03/2021 ESMA74-362-1937 response form- Technical Advice on simplification TR fees under SFTR and EMIR Securities Financing Transactions, Trade Repositories Reference DOCX
757.95 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
267.48 KB
24/09/2021 ESMA70-156-3914 Response form- Consultation Paper on the review of certain aspects of the SSR Short Selling 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 Securities Financing Transactions Reference DOCX
757.3 KB
27/05/2019 ESMA70-151-1019 Consolidated SFTR_Validation_Rules Securities Financing Transactions 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 Short Selling Reference PDF
158.57 KB
29/03/2021 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Short Selling Reference PDF
117.25 KB
31/03/2022 ESMA42-111-6889 Follow-up to GLEFI Peer Review Report Corporate Disclosure, IFRS Supervisory Convergence Reference PDF
429.7 KB
27/03/2018 ESMA33-128-212 reply form Reply form- Consultation Paper TA Fees Securitisation Repositories Securities Financing Transactions Reference DOCX
766.76 KB
27/03/2018 ESMA33-128-109 reply form Reply form- Consultation Paper Securitisation Repositories Application Securities Financing Transactions Reference DOCX
767.02 KB
01/12/2020 ESMA32-67-142 Compliance table on ESMA Guidelines on the enforcement of financial information Corporate Disclosure, IFRS Supervisory Convergence Compliance table PDF
150.56 KB
05/01/2017 ESMA32-65-68 Call for expressions of interest Consultative Working Group for ESMA's Corporate Reporting Standing Committee (CRSC) Corporate Disclosure, IFRS Supervisory Convergence Reference PDF
369.22 KB
05/01/2017 ESMA32-65-67 Application Form for CRSC CWG Corporate Disclosure, IFRS Supervisory Convergence Reference DOCX
38.09 KB

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