DTCC Joins XBRL US
The Depository Trust & Clearing Corp. (DTCC) has become a member of the XBRL US consortium and Donald Donahue, DTCC's chairman and CEO, has been added to its board. A branch of the non-profit XBRL International, the organization is responsible for the extensible business reporting language taxonomies and promoting adoption of the standard in the U.S.
In May, the Securities and Exchange Commission proposed that all public companies be required to submit their financial statements in XBRL by 2011, replacing the current voluntary program. New York-based clearing utility DTCC has been working with XBRL US on establishing semantic interoperability between XBRL and International Organization for Standardization (ISO) message types for corporate actions.
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