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XBRL at NZX

XBRL at NZX. Presentation Overview. NZX overview Team and Resources Motivation MAP (Market Announcement Platform) Origin of MAP (2001) Development process How it works Next Steps Integration First Step Key i ntegration challenges Intelligent integration and cooperation What Next?.

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XBRL at NZX

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  1. XBRL at NZX

  2. Presentation Overview • NZX overview • Team and Resources • Motivation • MAP (Market Announcement Platform) • Origin of MAP (2001) • Development process • How it works • Next Steps • Integration • First Step • Key integration challenges • Intelligent integration and cooperation • What Next?

  3. NZX Overview

  4. NZX • 50 Staff • 11 IT Staff • 3 Web Staff • 2 Web Developers • 1 Website/Data Manager

  5. Resources Web team priorities: • www.nzx.com • map.nzx.com and XBRL • support.nzx.com • challenge.nzx.com And future developments… • data.nzx.com

  6. Listed Listed Issuers Company Relations Team Pre-MAP Website Limited input MAP Database Export Data Human Input Human Input Tandem Listed Companies NZX Data vendors

  7. MAP (Market Announcement Platform)

  8. Origins of MAP • Conceived in 2001 • Prioritised in October 2003 • Successful launch: • Internally – September 2003 • Externally – March 2004

  9. MAP - Market Announcement Platform MAP allows Listed Issuers to create announcements and submit them directly to NZX for release to the market. NZX’s Objective: • Information dissemination • Accurate information • Efficient Issuer information exchange • Simple

  10. Status of MAP project Release 2: Direct Listed Issuer Access Delivered 29 March 2003 • Listed Issuer staff are able to: • create their own market announcements on the web • attach accompanying files • submit the announcement to NZX for release to the market.  *still uploading word documents Appendix 1, 11, 7 Website Limited input* Listed Internet Export Internet Company MAP Database (https) (https) Relations Data Team Listed Issuers Tandem Listed Companies External Internal Quality Control MAP MAP NZX System System Data vendors

  11. Key MAP Components • XML Standards • User/Issuer Driven • Standard Announcement Options • SIMPLE XBRL

  12. Listed Issuers Database Listed Issuers NEXT STEP: XBRL is the future Release 3: A Richer MAP Scheduled for release Q2 to Q3 2004 • XBRL based • Appendix forms refer to Appendix 1, 7 and 11 of the Listing Rules in relation to Preliminary Financial Statements, Events Affecting Securities and Consolidated Cash Flow Statements. Website Listed Full input Internet Company Export MAP Database (https) Relations Data Team Tandem External Internal Quality Control MAP MAP NZX System System Data vendors

  13. The Integration

  14. The Integration… First Step And along came Project First Step… SIMPLE XBRL MAP

  15. First Step overview What is the goal of First Step and MAP Integration? • A platform that allows Listed Issuers to use MAP to submit electronic versions of Appendix 1 using XBRL. Who is involved? • NZX • XBRL-NZ • The big four accounting firms • Selected Listed Issuers Companies involved: • Telecom • Sky City • Cart Holt Harvey • Fletcher Building Limited • Auckland International Airport Limited • Dairy Brands NZ Limited • Warehouse Group Limited • Northport Corporation of NZ Limited • Fisher & Paykel • NZSX 10 Fund • NZX

  16. Key Integration challenges:NON-TECHICAL • Appendix 1 • GAAP/IFRS • Collaboration • Simple for Issuers? • How • Tools • Collaboration

  17. Key Integration challenges: TECHICAL • Architecture • Validation model • Version control • Database vs file system? • Web delivery • 3months.com • cocoon • Tools • Microsoft Products

  18. Success! • A greatly improved Appendix 1 • Global access • User friendly form • High quality • Bridges built • Intelligent focused cooperation - right people at the right time • New relationships • Cross disciplines

  19. What Next? • Distribution ($$)? • Issuer Uptake • Other applications for NZX business

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