XBRL US Publishes 2012 Corporate Actions Taxonomy Release for Public Review

NEW YORK, May 17, 2012 /PRNewswire/ -- XBRL US announced today that it had published the second release of the Corporate Actions Taxonomy for public review and comment.  The new release has been updated to accommodate the active ISO 20022 standard for Corporate Actions Announcements and to support the ongoing American Depositary Receipts (ADR) pilot.  The Corporate Actions Taxonomy is a digital dictionary of terms that describe over 50 corporate actions announcements including dividends, stock options, mergers and acquisitions.  The taxonomy was also revised to conform to updated XBRL technical specifications.   The taxonomy, Architecture and Scope documents, release details and sample instance documents are now available online during the Public Review period which remains open until June 15, 2012.

"This latest release of the taxonomy reflects our experience in pilot testing as well as aligning to the ISO 20022 standard in support of the DTCC reengineering program," said Max Mansur, Program Manager, Securities Markets, SWIFT. "We encourage the financial services community, including brokers, custodians, investment managers and public companies, as well as XBRL specialists, to review the new release and submit comments."

The taxonomy was developed as part of the Issuer to Investor: Corporate Actions initiative launched in 2009 by DTCC, SWIFT and XBRL US to improve data quality and reduce processing cost and time.  The initiative has since established a pilot program for American Depositary Receipts to help demonstrate the value of using the XBRL standard in the processing of corporate actions announcements.  DTCC's corporate actions reengineering is a multi-year initiative that will upgrade and replace more than 60 systems currently supporting corporate actions with a single new platform leveraging ISO 20022 messaging and an event-based structure that presents a holistic event view. 

"The new Corporate Actions taxonomy and DTCC's reengineering initiative can help us create a more streamlined corporate actions process," said Daniel Thieke, DTCC vice president, Asset Services. "And  the more input  XBRL US  receives from all stakeholders, the better it will help meet the needs of the reporting supply chain."

About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission, and has developed a taxonomy for corporate actions. For more information, go to xbrl.us.

View the taxonomy http://xbrl.us/taxonomies/Pages/2012corpactions.aspx

SOURCE XBRL US