Focus on the European Regulation 236/2012 on short selling that frames short positions in shares and sovereign debt. In this section, you will also find file containing the history of net short positions published since 1st November 2012.
Any natural or legal person who holds a short position equal to or higher than 0.2% of the share capital of a company whose shares are admitted to trading on a European trading venue, if the main market for the share in question is located in Europe, must notify the competent Authority of this position within one trading day.
When the net short position is equal to or higher than 0.5% of the share capital, the competent authority publishes this information.
The same obligation of reporting to and publication by the competent authority applies when one of the successive supplementary thresholds set by 0.1% steps is crossed, either upwards or downwards.
If an entity holding a published net short position crosses downwards the 0,5% threshold, a notification must be sent under the same conditions. The competent authority publishes this downwards crossing notification and, the next day, removes this publication and all the previous related net short position publications.
Dowload the disclosures of net short positions equal to or higher than 0.5% of the share capital of companies covered by European Regulation 236/2012, in the Decisions and Financial Information Database (BDIF) which is accessible via the advanced search function in the website
On its website, ESMA provides a tool to find the competent authority for each company.
Transactions entered into within the framework of market-making activities or as an authorised primary dealer do not fall within the scope of the European Regulation, provided that the person in question has notified the AMF beforehand. The AMF may prohibit the use of this exemption if it considers that the conditions for its use are not satisfied.
Ask for an exemption
The net short position transparency system also concerns sovereign debt issued by European Union Member States. The reporting thresholds are provided by the Delegated Regulation of the European Commission. The information collected by the competent authorities is not disclosed.
The AMF provides market participants with a file containing the history of net short positions published since 1st November 2012. This file is published in this section and updated on the last business day of each month.
 Credit Default Swaps (CDS) are financial products used to provide cover against risks of default by an issuer.