Information on Short Positions

As of 1 November 2012 Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (SSR) is directly applicable in the Czech Republic. SSR requires investors to provide notifications of net short positions to competent authorities. Czech National Bank has to be notified of net short positions in shares and Czech sovereign debt.

Private notification

CNB should be notified where the net short position in shares reaches or falls below 0,1 % of the issued share capital of the company concerned. Notification should also be submitted for each 0,1 % above the minimum threshold.

CNB should be also notified of net short positions in Czech sovereign debt and uncovered positions in Czech sovereign credit default swaps. European Securities and Markets Authority (ESMA) has published a list of the different thresholds for each Member State in these instruments.

Notifications are sent to the Czech National Bank through the SDAT web application. In order to use the application, registration of the net short position holder is required, which is done by filling in the registration form (xlsx, 43 kB) and sending it (together with the required attachments) to shortselling@cnb.cz. The procedure for working with the SDAT application is described in the user manual (pdf, 2.5 MB).

Public dislosure of net short positions in shares

A net short position in shares which reaches or falls below 0,5 % of the issued share capital of the company concerned and each 0,1 % above that will be published by CNB on its website through the Internet application Information on Short Position.