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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
24/11/2021 ESMA22-106-3734 SMSG advice to ESMA on its Consultation Paper on the review of certain aspects of the Short Selling Regulation , SMSG Advice PDF
167.66 KB
19/11/2021 ESMA70-1861941480-52 Q&A on EMIR implementation , Q&A PDF
1.37 MB
08/11/2021 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.43 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.

03/11/2021 ESMA71-99-1749 Press_Release_New Chair_Ross November FINAL , , , , Press Release PDF
81.42 KB
20/10/2021 ESMA34-32-418 AIFMD MoUs signed by the EU authorities , Reference XLSX
50.22 KB
15/10/2021 ESMA71-9-1745 Ross appointed ESMA Chair , Press Release PDF
84.56 KB
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
13/10/2021 ESMA22-106-3638 SMSG Advice on remuneration guidelines SMSG Advice PDF
118.54 KB
08/10/2021 ESMA74-362-2159 ESMA as a data driven regulator and supervisor- AFME 5th Annual European Compliance and Legal Virtual Conference , , , , , , , , , Speech PDF
167.18 KB
01/10/2021 ESMA22-106-3545 Summary of Conclusions Management Board- 3 September 2021 Summary of Conclusions PDF
119.82 KB
30/09/2021 ESMA74-362-893 QAs on SFTR data reporting , , Q&A PDF
356.79 KB
30/09/2021 ESMA80-196-5819 Opinion on improving access to and use of credit ratings Opinion PDF
331.84 KB
28/09/2021 ESMA22-106-3523 SMSG Advice on ESMA 2022 annual Work Programme SMSG Advice PDF
143.94 KB
28/09/2021 ESMA71-99-1735 ESMA Work Programme 2022 , , , , Press Release PDF
89.19 KB
28/09/2021 ESMA20-95-1430 2022 Annual Work Programme , , , Report PDF
589.43 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 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
39.23 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
24/09/2021 ESMA70-156-3914 Consultation Paper on the review of certain aspects of the Short Selling Regulation Consultation Paper PDF
1.19 MB

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