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”:

 

  1. Commission de Surveillance du Secteur Financier (CSSF),
  2. Banque Centrale du Luxembourg (BCL),
  3. Commissariat aux Assurances (CAA),
  4. Association des Banques et Banquiers, Luxembourg (ABBL),
  5. Association Luxembourgeoise des Fonds d’Investissement (ALFI),
  6. Association des Compagnies d’Assurances, Luxembourg (ACA),
  7. Institut des Réviseurs d’Entreprises (IRE),
  8. Ordre des Experts Comptables (OEC),
  9. Service Central de la Statistique et des Études économiques (STATEC) et
  10. 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