Basel / New York – 15 December 2006 - The SDMX Sponsors Committee and XBRL International announced that a preliminary investigation by SDMX and XBRL experts has confirmed the potential for interoperability between the two frameworks, which have focused on aggregated statistical data and individual business reporting, respectively. Interoperability could lead to greater efficiency in the exchange and quality of data and metadata between the business reporting and statistical domains. The two organisations announced plans for a project to explore the possibilities further. A working group that will include SDMX and XBRL experts will be formed shortly.  

Paul Van den Bergh, Chairman of the SDMX Sponsors Committee, and Michael Ohata, Chairman of the XBRL International Steering Committee, together announced the joint new project: “SDMX and XBRL are complementary and non competitive. The statistical and business reporting community have a clear interest in making the exchange of data across their respective domains as efficient as possible. “We look forward to bringing the interests and requirements of our groups together to develop the necessary analytical and technical framework to bridge our domains.”

More details on this project and progress of the working group will be available at the websites of SDMX (www.sdmx.org) and XBRL ( www.xbrl.org).

About SDMX
The Statistical Data and Metadata Exchange (SDMX) initiative fosters standards for the exchange of statistical information and is sponsored by the Bank for International Settlements, the European Central Bank, Eurostat, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United Nations and the World Bank. The heads of statistics at these institutions constitute the SDMX Sponsors Committee. SDMX standards have been approved as a Technical Specification by the International Organization for Standardization (ISO/TS 17369) and are endorsed by the Coordinating Committee for Statistical Activities, a group of more than 25 international organizations. Please visit www.sdmx.org for more information about SDMX.

About XBRL International
XBRL allows the platform independent definition, exchange, and dissemination of business reporting information. It can be used to express a wide range of reports and disclosures including financial statements, internal management information, regulatory returns, statistical reports, and credit filings. XBRL International is a non-profit consortium whose members include approximately 400 leading organizations from all segments of the business information supply chain. XBRL has been widely recognized as a critical component in the improvement of corporate transparency. For more information about XBRL International, please visit www.xbrl.org.