PRESS RELEASE   14 July 2005

(Translation from official CNMV announcement)

 

 

 

Spanish Stock Exchange begins use of XBRL

 

The Spanish Stock Exchange has begun using XBRL for receiving and distributing public financial reports from listed companies.

 

The "Comisión Nacional del Mercado de Valores / Spanish Stock Exchange Commission" (CNMV), started on 1 July 2005 to use the new XBRL standard for the exchange of financial information in the reception and distribution of the regular public reports which organisations with shares listed for quotation must send to the supervisor.

 

The CNMV is a founding partner of the Spanish XBRL Association, which exists to promote the use of this new standard.  The XBRL reports prepared by the providing companies are published on the CNMV website.  These are based on the IPP taxonomy approved on 30 June 2005 by XBRL Spain.  This taxonomy represents the models of financial statements regulated by the CNMV Circular 1/2005 for the introduction of the IFRS/IAS.

 

With the implementation of this new standard, the CNMV moves forward its e-administration and enhances the transparency of information  -- making publicly available the financial statements of quoted companies in a standard format that facilitates automated processing by all stakeholders:  inclucing emitters, supervisors, analysts, auditors and diffusers.

 

For further information, please see the CNMV website www.cnmv.es at: E-Administración/Informes XBRL.