Research undertaken by McKinsey & Company and GLEIF estimates that the wider adoption of Legal Entity Identifiers (LEIs) could yield annual savings of over $150 million in the investment banking industry and up to a further $500m for banks in the issuance of letters of credit. The resulting white paper estimated that annual savings in […]
Eight of Europe’s largest banks have taken the first steps in rolling out a new shared blockchain commerce platform – Digital Trade Chain. The joint venture’s distributed ledger framework is aiming to connect buyers, sellers, banks, and intermediaries, in order to ease domestic and cross-border commerce for European companies. Digital Trade Chain will be rebranded […]
The landmark Kotak report prepared by a Committee of experts on Corporate Governance was submitted to the Securities and Exchange Board of India (SEBI) last week. The ‘Corporate Governance in India’ report aims to converge Indian and international corporate governance standards for that country. Out of its 170 pages, one significant takeaway may be of […]
To all our readers, members and friends in India and across the world that are celebrating the festival of light this week — Happy Diwali!
In fact, our spies at Sibos tell us that the initiatives that attracted the crowds at the world’s largest banking conference this week were those driven not by blockchain, but through Open APIs. Open, light interfaces that simplify the exchange of information from system to system are rapidly becoming the most interesting technical development for […]
With new talks on AI and a host of other subjects, including a keynote from the Bank of England’s Beju Shah on the role that XBRL can play in making reporting easier for everyone, don’t forget that the concessional pricing for the DataAmplified hotel runs out on 23 October!
On October 11, the US Securities and Exchange Commission (SEC) proposed a significant series of amendments concerning Regulation S-K. One aspect might be of particular interest to readers of this newsletter: the SEC is proposing that all of the cover pages of its forms should be filed as Inline XBRL, with a range of identification […]
The European Securities and Markets Authority (ESMA) has published a briefing concerning the use of Legal Entity Identifiers (LEI). The intention is to raise industry awareness and facilitate conformity with LEI obligations under MiFID II, ahead of its 3 January 2018 launch. The authority is urging participants to get ahead of the curve in fulfilling […]
XBRL Members and Participants can now register for a Member Forum webinar, which aims to “Bring the needs and knowledge of the XBRL community to the foundations of Blockchain development”. Delivered by XBRL stalwart, Eric Cohen, this talk is designed to let people know what is happening within the new ISO/TC 307 Working Group on […]
The Bank of England (BoE) has published an update on their FinTech Accelerator program announcing the latest cohort of proofs of concepts (PoCs) along with a status report. The news was shared as part of a speech by Andrew Hauser, Executive Director for Banking, Payments and Financial Resilience delivered at Cambridge this week. Since the […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
