In a guest post, Daniel Labovitz, an MWC (memo-writing colleague) offers a peek inside our process and a lesson in navigating between simple and complex language: keep the classics in mind.
I learned something when I got an e-mail last night from the Webby Awards people, announcing the list of Webby recipients (which did NOT, repeat NOT, include your humble blogger, but I'M REALLY OK WITH THAT, REALLY I AM).
The thing I didn't know is that all the Webby acceptance speeches have to be five words or fewer. I never realized this because I don't pay a lot of attention to the Webbys. Which appears to be mutual.
Apologies for multiple XBRL-related posts in one day, but your no-longer-quite-so-humble blogger was honored to be invited on the SEC's conference call this afternoon with a dozen bloggers about interactive data reporting, ahead of Monday's expected action by the Commission on this more-accessible type of financial disclosure.
On Monday, the SEC is scheduled to decide on its plans for any requirements and timeline for public companies to file their financial statements in an interactive data format.
What that has to do with Meg Ryan, you'll have to click through to see.
Interviewer Susie Gharib says: "The word 'authentic' has been overused lately. But it’s about the best word I can come up with to describe the CEO of the New York Stock Exchange..."
I had no idea how widespread this neurological disorder was until I had the honor of meeting Bob and walking him around the trading floor. I remember being surprised at how many members and others on our trading floor -- literally, dozens -- went out of their way to talk with Bob and share how autism had touched their lives and those of friends and family members.
Either that, or this blog really is cool, fantastic, cute, super, brilliant and perfect.
"Roland Bellegarde, head of European cash markets at NYSE Euronext, said: 'The hub provides a combination of valuation services that gives users the possibility to find in one independent, neutral place all the information they need to facilitate their valuation process.'"
"[United Technologies Corp.'s John] Stantial likes XBRL because 'data that is trapped and lacking in context, such as PDF or HTML files, can now be electronically accessed and manipulated in seconds.' He says many companies are uneducated about XBRL or have not done cost-benefit analyses. The open-standard software can cost as little as $1,000, and once users get past the learning curve, tagging and filing an 8-K earnings release requires about four person-hours, Stantial wrote in a UTC case study."
So why aren't more companies -- including those in supposed leadership positions like Nasdaq -- using XBRL?
Doctor, doctor, gimme the news, I gotta bad case of market flu.
Accretive in 2009; strengthens options, ETF and cash product offerings; continuing to lead global consolidation. Conference call at 5:15 p.m. today.
Who's right about the history of the Dow Jones Industrial Average: Dow Jones or...Dow Jones?
I never cease to be amazed by how blogs -- even this little one -- travel via the 'Net to places around the world. My post about Linux was picked up by an obviously techie blog in another language (text below). Please forgive my ignorance, but can anyone identify the language or summarize their post? Looks like they're happy we're using Linux, but that's as far as I can get. Thanks.
-World’s Leading Marketplace in Overall IPO Proceeds-
-New Record Volumes Across Products and Geographies-
-Full-Year 2007 Cash Equities Volumes: + 47% in Europe and +16% in the U.S.-
-Full-Year 2007 Derivatives Volumes: +30% in Europe and +71% in the U.S.-
-Really Swell Blog Talks About It All-
OK, I made up that last line. But seriously, releases like this one remind me how diversified this company has become.
For me, finding a favorite post was a little difficult, because:
a) Scanning through your own writing is like listening to a recording of your own voice. You get that do-I-really-sound-like-that feeling, over and over again.
b) When I got the request I was already in my year-end, eggnog-induced haze.
Anyway. Here are a couple-three posts that I liked best/hated least.
One thing I hadn't heard before: we're on track to raise more tech IPO proceeds than Nasdaq this year.
A fitting coda to today's news, no?
I wish both Duncan and John the best. Will write more about this soon.
Evolving to seize a market opportunity and help make a positive impact on the environment.
How's that for concise? And as an NYX shareholder, I say growing is a good thing.
I drag myself onto the train this morning and look up at the poster-sized ad on the wall across from me, and it's a big picture of Yankee skipper (at least at the moment) Joe Torre...
Plus, a new high for the NY (index, that is); NYSE buys a parcel and settles in (in 1863); and have faith, Yankee fans -- here's proof that anything is possible.
Closest to home (for me), I see that NYSE and NYSE Arca volume in cash equities continues to grow, and I appreciate every single order. The eye-popping piece of this news release, however, is the growth at NYSE Arca Options and European cash and derivatives trading.
Plus: a little Woody Guthrie for your Wednesday pondering.
Plus: The SEC turns 73; NYSE adds a half-hour to the trading day and drops Saturday trading (back in 1952); and why you should never listen to predictions.
And wait, there's more -- you get this knife that can cut through this brick and still slice a tomato just as thin as you...
...and other links for 27 Sept. 2007.
The folks from this incredible education program were here this morning to ring the Opening Bell, and I wanted to share my glimpse at their good work and their great laptop.
The more things change, the more they stay the same.
We remember out of respect or because we want to or because we cannot escape it, and I'm there on all those. We move on because it's what we are here to do. I mean, moving on is living, is it not? Does it have to mean forgetting?
The SEC is actively encouraging the XBRL (eXtensible Business Reporting Language) trend by providing expedited reviews of registration statements and 10-Ks that use XRBL.
NYSE has become the first foreign bourse to win approval to set up a representative office in Beijing. This is another chapter in an unfolding and important history that started with a Nixon-in-China moment in global finance. Plus: the birth of the first SEC chairman and of the Commission itself.
Neither hedge funds nor anybody else should be expected to act like specialists. No one else has the same obligation that specialists have -- to apply their capital to counter rapid market swings and dampen volatility. That's why it's critical for us to have a rule set that encourages specialists to participate in this way, when appropriate.
The conversation continues on what's causing the recent volatility in the market. Plus: farewell to the Scooter.
The tick restrictions for the top 1,000 stocks...were actually lifted in May 2006 as part of the Reg. SHO pilot. To say, therefore, that the recent volatility in the Dow was a result of the SEC's decision to lift the restrictions permanently, is specious. If the argument had merit, there would have been a corresponding spike in volatility in the Dow (and howls of protest) stretching back to May '06.
Dean Bruner dissects the Panic of 1907 and its relevance for today; volatility drives some day traders, and drives out others; a quant sees a shakeout for the ages; a new book argues that financial innovations have made markets more volatile and interlinked; and a supermodel eats at McDonald's before visiting NYSE. Plus: Jay Buhner for Ken Phelps?
Today, I'm in about the same place where I started, not knowing what to expect. As I've learned from experience, that's not a bad place to be.
NYSE InfoTools has gotten healthier, with the addition of retail and program volume tracking. Wanna see what it looks like? Check out the listed data pages on nyse.com.
Your WWW BFF here, reporting on a new piece of VIP OTCBB content that is definitely not on the QT.
