NYSE Euronext Becomes First Exchange to File Financial Statements Using Interactive Data
FOR IMMEDIATE RELEASE
Washington, D.C., Sept. 7, 2007 - The Securities and Exchange Commission today 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."
The SEC's voluntary interactive data filing program allows public companies to submit documents in eXtensible Business Reporting Language (XBRL) format as exhibits to periodic reports and investment company act filings. Participants in the program provide the SEC with feedback on benefits or deficiencies involved with submitting XBRL filings. The SEC staff, in return, provides expedited reviews of all of their registration statements and Form 10-Ks.
The SEC encourages additional companies to participate in its interactive data initiative by joining the XBRL financial reporting test group. Companies should visit the SEC's interactive data spotlight page at http://www.sec.gov/spotlight/xbrl.htm and contact Jeffrey Naumann in the Office of the Chief Accountant (email@example.com) or Brigitte Lippmann in the Division of Corporation Finance (firstname.lastname@example.org) for additional information.