Business Case Supports XBRL for Corporate Actions

Last year, DTCC, Swift and XBRL US teamed up to create a stakeholder group to review corporate actions processes and provide recommendations. The business case is now close to being completed.

In the business case, the group identified one corporate action, a large merger, and analyzed the potential impact of the use of XBRL throughout the lifecycle. "We looked at it in depth, reviewing accuracy risk, interpretation risk, timing risk and cost," says New York-based Michelle Savage, vice-president