Luxembourg sets up provisional XBRL Jurisdiction
16 May 2007
Luxembourg has set up a provisional XBRL jurisdiction following strong interest in
the use of XBRL by the National Bank and other leading organisations. XBRL Luxembourg is championed by the
Luxembourg Bankers' Association, who will be the driver of the XBRL standardisation
in Luxembourg.
The setting up of the jurisdiction, approved by the XBRL International Steering Committee (ISC), will enable Luxembourg to better to recruit local XBRL members and progress the use of the
electronic language. A jurisdiction is a local legal entity which has the
exclusive right to represent XBRL International (XII) in its area and is able
to provide official support to XBRL projects and initiatives. It is
responsible for encouraging the development and adoption of XBRL in its particular
area. Jurisdictions are initially classed as provisional and become
classed as established after achieving targets on growth of membership and
other criteria.
The following ten
organisations of the financial centre have created the “XBRL Luxembourg
jurisdiction”:
- Commission
de Surveillance du Secteur Financier (CSSF),
- Banque
Centrale du Luxembourg (BCL),
- Commissariat aux Assurances
(CAA),
- Association
des Banques et Banquiers, Luxembourg (ABBL),
- Association
Luxembourgeoise des Fonds d’Investissement (ALFI),
- Association
des Compagnies d’Assurances, Luxembourg (ACA),
- Institut
des Réviseurs d’Entreprises (IRE),
- Ordre
des Experts Comptables (OEC),
- Service
Central de la Statistique et des Études économiques (STATEC) et
- Société
de la Bourse de Luxembourg S.A. (BdL).
“XBRL Luxembourg a.s.b.l.” is a not for profit association open to any
person, public or private entity with interest in the promotion and the use of
the XBRL standard as well as offering services or products supporting the standard.
Academic, research, development or entities or persons involved in education
may also become a member.
“XBRL Luxembourg a.s.b.l.” is collaborating with “Luxtrust”
– the national PKI service provider - regarding the securitisation of the
normalised financial data exchanges and will do so with the soon to be created
“Institut Luxembourgeois de
normalisation, d’accrédidation et de surveillance” to
install XBRL as a national standard.
To learn more about
XBRL Luxembourg or if you wish to participate contact the General Secretary,
Marc Hemmerling at Hemmerling@abbl.lu. Please watch for the launching of the Luxembourg
jurisdiction website at www.xbrl.org .
Announced by:
Cheryl Neal
XBRL International