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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
24/01/2019 ESMA50-164-770 Links to national websites where net short positions in shares are disclosed Reference PDF
80.26 KB
19/11/2018 ESMA32-60-403 Video Tutorial on the European Single Electronic Format- Script Reference PDF
166.3 KB
31/10/2018 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.23 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.

23/08/2018 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
227 KB
29/05/2018 ESMA70-145-408 Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR) Q&A PDF
536.17 KB
27/04/2018 ESMA22-103-753 Multilateral MoU on cooperation, information exchange and consultation , Statement PDF
731.24 KB
13/04/2018 ESMA40-133-624 ESMA's response to WP29 Consultation on Guidelines on Derogations , Letter PDF
428.49 KB
05/03/2018 ESMA70-145-386 Technical Advice on the evaluation of certain elements of the Short Selling Regulation Final Report PDF
1.72 MB
22/02/2018 ESMA70-145-441 ECON scrutiny session Short Selling Regulation Verena Ross Speech PDF
197.03 KB
18/12/2017 ESMA 71-99-670 New rules make EU issuers’ annual financial reports machine-readable Press Release PDF
218.36 KB
18/12/2017 ESMA32-60-204 Final report on the RTS on the European Single Electronic Format Final Report PDF
6.37 MB
18/12/2017 ESMA 71-99-671 Briefing note- Preparing for 2020: ESEF field tests and reporting manual Reference PDF
339.06 KB
06/10/2017 ESMA/2016/1144 Annex 5.3 Annex 5.3- Project Work plan (TRACE Project) Reference PDF
245.92 KB
06/10/2017 ESMA/2016/1144 Annex 3.3 Annex 3.3- Access to Trade Repositories SLA (TRACE Project) Reference PDF
293.75 KB
06/10/2017 ESMA/2016/1144 Annex 2.3 Annex 2.3- Project Presentation Document (TRACE Project) Reference PDF
379.91 KB
06/10/2017 ESMA/2016/1144 Annex 1.3 Annex 1.3- Description of Tasks Reference PDF
144.86 KB
06/10/2017 ESMA65-12-1860 Amendment 3 to the Delegation Agreement (FIRDS and TRACE Projects) Reference PDF
188.54 KB
06/10/2017 ESMA65-316-2269 Annex 9- Transfer of funds request (FIRDS and TRACE Projects) Reference PDF
251.66 KB
06/10/2017 ESMA65-316-2646 Annex 8- Final Report Template Reference PDF
215.19 KB
06/10/2017 ESMA65-316-2645 Annex 7- Progress Report Template Reference PDF
216.56 KB