Notification of short positions

Who must notify short net positions?

The obligation to notify net short positions applies to all investors and market participants, where  net investment position reaches, exceeds or falls below a certain threshold.

More details on threshold values

A net short position in the issued share capital of a company whose shares are subject to trading on a regulated market must be disclosed when the position reaches, exceeds or falls below the threshold of 0.2% of the company’s issued share capital. A new notification must be submitted for each 0.1 percentage point rise once the threshold has been breached.

A net short position relating to issued sovereign debt must also be notified when such a position reaches, exceeds or falls below the notification threshold. As regards debt issued by the Finnish government, the notification obligation arises when a position reaches, exceeds or falls below the threshold of 0.5% and each 0.25% above that.

When and how to notify?

The FIN-FSA must be notified of net short positions in shares listed on the Helsinki Stock Exchange and Finnish government bonds not later than at 3:30 pm on the following trading day after the transaction day.

Here's how to notify

1.      Download the notification form and complete it

2.      Send the notification form

  • Send the completed notification form to shortselling(at)fiva.fi
  • The notification should be sent by encrypted email.

Other instructions

  • The notification forms are read by machine, and they must be sent to the FIN-FSA in Excel format.
  • Please always download the necessary Excel files from this site when filing a notification. The files may have been updated after your previous notification, and the old versions may no longer work.

Publication of short net positions

Current net short positions and historical information

Net short position which have reached, exceeded or fallen below the threshold are published during the next trading day. Updates are made at 10 a.m. and after 5 p.m.

Current short net positions

Previous short positions

Related information

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Further information

Questions and answers on short selling at the website of the European Securities Market Authority, ESMA

Regulation in the EUR-Lex service

  • (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) (link)

  • (Commission Delegated Regulation (EU) No 826/2012 of 29 June 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council with regard to regulatory technical standards on notification and disclosure requirements with regard to net short positions, the details of the information to be provided to the European Securities and Markets Authority in relation to net short positions and the method for calculating turnover to determine exempted shares) (link)

  • (Commission Implementing Regulation (EU) No 827/2012 of 29 June 2012 laying down implementing technical standards with regard to the means for public disclosure of net position in shares, the format of the information to be provided to the European Securities and Markets Authority in relation to net short positions, the types of agreements, arrangements and measures to adequately ensure that shares or sovereign debt instruments are available for settlement and the dates and period for the determination of the principal venue for a share according to Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps) (link)
  • (Commission Delegated Regulation (EU) No 919/2012 of 5 July 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps with regard to regulatory technical standards for the method of calculation of the fall in value for liquid shares and other financial instruments) (link)

Contact information

Ms Laila Hietalahti, Market Supervisor
tel. +358 9 183 5244

Ms Pia Ovaska, Legal Advisor
tel. +358 9 183 5296