Here is our pick of the 3 most important XBRL news stories this week.
While ESEF won’t be able to compete with other highly topical news items, it is certainly of consequence in Europe this year. Eurofiling has hosted a high quality event last week to review the ESEF conformance suite, an important tool for ESEF users. Check out the 1100h conformance suite analysis, and Anna Sciortino’s keynote at 0940h!
A recent XBRL US comment letter expresses support for the Commodity Futures Trading Commission (CFTC) proposal to introduce reporting standards and expand the use of the Legal Entity Identifier (LEI) – but urges the CFTC to require the use of a single data standard.
It is crucially important for regulators like the CFTC to do their job to set single standards where appropriate, even if they are faced with just a handful of Swaps Data Repositories. The world of derivatives trading is a global one. We cannot afford artificial information friction supported by multiple standard.
SDMX is a standard used for the exchange of standardised data and metadata, which is sponsored by several international organisations. To facilitate development of SDMX for SDG indicators, the Working Group on SDMX for SDG Indicators was set up in April 2016.
While SDMX (Statistical Data and Metadata eXchange – only slightly worse than XBRL) is not strictly part of our remit here, my search bot has uncovered this interesting recent document covering the UN’s global data collection infrastructure about its Sustainable Development Goals (SDGs). This is a critical framework for the ESG investing space.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.
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