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Industry standards mix and match 171
<snap>
<instrumentDomain>
<instrumentIdentifier>
<name>Morgan Stanley SENIOR NOTES-F
9/1/2006</name>
<code
scheme="http://www.mddl.org/ext/scheme/iso6166.x
ml">
<mdString>US0373891037</mdString>
</code>
<code
scheme="http://www.morganstanleyindividual.com/ma
rkets/ipocenter/debtsyn/">
<mdString>TP415</mdString>
</code>
</instrumentIdentifier>
<agencyRatings>
<rating>
<code scheme=
"http://www.mddl.org/ext/scheme/symbol?SRC=MOO
DYS">
<mdString>Aa3</mdString>
</code>
- <!-- Credit Risk -->
<ratingType>risk</ratingType>
</rating>
</agencyRatings>
</instrumentDomain>
</snap>
Figure 11.11 Security identification and agency credit rating (MDDL)
XBRL
XBRL is the accepted XML standard for all business and financial reporting. It
is the de facto standard in the area of all aspects of company accounts reporting,
including the general ledger, internal reporting, end-of-year reporting and statutory
reports. XBRL supports the creation of separate taxonomies for different requirements
and reporting regimes. Taxonomies exist for internal and regulatory reporting, and
new ones are currently under development to support broker–dealer and investment
management organizations. It supports terms such as portfolio valuations, which are
derived from market data; however, it does not support market data per se.Itis
possible to create an XBRL taxomony that could support market data terms, although
this would be outside the remit of the standard.
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172 MDDL and the Quest for a Market Data Standard
From a market data perspective, corporate announcements fall within the remit
of XBRL. These announcements may result in the creation of one or many cor-
porate action events that may have an impact on the issuer and/or an issue, which
is within the scope of MDDL. Some may argue that the corporate action events
themselves should also be managed by an XBRL taxonomy; however, these are
currently outside the scope of the standard. An XBRL adherent sample of a dividend
announcement has been provided in Figure 11.12 to show how a corporate announce-
ment could be represented. Corporate action events in MDDL are discussed in
Chapter 10.
<CorporateActionAnnouncement>
<AnnouncementDetails>
<IssuerName>HSBC Holdings plc</IssuerName>
<IssuerTIDM>HSBA</IssuerTIDM>
<Headline>Interim Dividend
Announcement</Headline>
<Released>07/09/2006 12:14:00</Released>
<AnnouncementNumber>12345</AnnouncementN
umber>
</AnnouncementDetails>
<Announcement>
<Title seq="1">Fourth interim dividend for
2006</Title>
<Title seq="2">As published on the HSBC website:
www.hsbc.com/hsbc/investor_centre/dividends</Ti
tle>
<Paragraph seq="1">05 Mar 07
Announcement</Paragraph>
<Paragraph seq="2">21 Mar 07 ADSs quoted ex-
dividend in New York.</Paragraph>
<Paragraph seq="3">21 Mar 07 Shares quoted ex-
dividend in London, Hong Kong and
Bermuda.</Paragraph>
<Paragraph seq="4">23 Mar 07 Record
date.</Paragraph>
<Paragraph seq="5">23 Mar 07 Closure of Hong Kong
Overseas Branch Register of shareholders for one
day.</Paragraph>
<Paragraph seq="6">26 Mar 07 Shares quoted ex-
dividend in Paris.</Paragraph>
<Paragraph seq="7">10 May 07 Payment
date.</Paragraph>
</Announcement>
</CorporateActionAnnouncement>
Figure 11.12 A snippet of an XBRL corporate announcement

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