NYXBRL

By: Ray Pellecchia

File Under: Miscellaneous

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This one is an NTDWH post (nothing to do with Hybrid), but I think it's cool anyway.

NYSE Euronext Becomes First Exchange to File Financial Statements Using Interactive Data (SEC.gov) -- "The SEC announced that NYSE Euronext is the first stock exchange to submit financial reporting information using interactive data.
"In furnishing 10-Q information in XBRL format, NYSE Euronext joined more than 40 public companies that are leading the way in making filings more accessible and understandable to investors. The XBRL computer language, specially designed for financial reporting, makes income statements, balance sheets, and even footnotes completely interactive. Investors and analysts can easily search them, download the information into popular spreadsheet software, and even generate real-time data feeds to their desktops to alert them to new SEC filings.
"SEC Chairman Christopher Cox said, 'NYSE Euronext is demonstrating admirable leadership in making their financial reports available to investors in a user-friendly way. Interactive data has the potential to save significant time and expense for investors, analysts, and those who prepare financial reports. This significant step by the world's largest exchange is another important milestone in the evolution of all public company reporting into the interactive format.'"

I cite this not just to pat ourselves on the back (though assuredly I'm doing just that!) but also to express appreciation for the fact that the SEC is actively encouraging the XRBL (eXtensible Business Reporting Language) trend by providing expedited reviews of registration statements and 10-Ks that use XRBL. Companies interested in joining the test group can check out the SEC's interactive data spotlight page at: http://www.sec.gov/spotlight/xbrl.htm

Of course, the greatest benefit will come from making our financial markets easier to understand and use.

This news is getting a bit of attention, and hopefully that will spur others to join in:

ShopYield: It’s excellent when firms show leadership… congrats to the NYSE!

CFO.com: Cox Cheers Big Board XBRL Launch

As always, your thoughts are welcome.

A bit of history for your Monday afternoon:

Today in NYSE History
10 September 1951 -- G. Keith Funston became president of the NYSE. Funston led the "Own Your Share of American Business" campaign that helped grow the number of individual investors from 6.5 million in 1952 to 17 million in 1962, and overall helped instill a larger sense of "equity culture" in the United States.

Tags: NYSE Euronext, NYX, SEC, XBRL