Posted on Monday, April 11, 2022

XBRL US submitted a comment letter to the Securities and Exchange Commission (SEC) in response to their rule proposal on Shortening the Securities Transaction Settlement Cycle. In our letter, we agreed with the Commission proposal that information submitted in the Annual Report of the central matching service provider (CMSP) be provided in Inline XBRL format, to improve the transparency and usability of data reported.

The proposal suggests that a CMSP should “…include in its report a summary of key settlement data relevant to its straight-through processing objective. Such data could include the rates of allocation, confirmation, affirmation, and/or matching achieved via straight-through processing.” Given the specificity of this data, we suggested in our letter that the Commission require detailed information like this to be XBRL formatted as well, rather than just the three narrative disclosures proposed. Doing so would enhance the usefulness of the reported data and the ability to conduct comparisons and track individual entity performance over time.

Read the letter: XBRL US Comment on Shortening the Securities Settlement Cycle, File Number S7-05-22

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Domain Steering Committee Meeting
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Mastering New SEC XBRL Requirements for Investment Management Filers (Session 1)
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Public Exposure for Comment – Data Quality Committee Rules
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Mastering New SEC XBRL Requirements for Investment Management Filers (Session 2)
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