ESMA_QA_1907

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1907

---

Regulatory Context

Regulation : SSR

Level 1 Regulation: Short Selling Regulation (SSR) Regulation (EU) No 236/2012

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Determination of net short position

Subject Matter: Umbrella structures and master feeder structures

---

Question

Submission Date: 13 September 2012

what level is the net short position to be calculated in the case of umbrella structures and master feeder structures?

---

ESMA Answer

Answer Date: 13-09-2012

[ESMA70-145-408 SSR Q&A, Q&A 6.2] In the case of umbrella structures, the calculation of the net short position must take place at the level of the respective subfunds. In the case of master-feeder structures, it takes place at the level of the respective master fund.

---

This document was automatically extracted from the ESMA EMIR Q&A database.