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Bloomberg on-boards XBRL data from Bombay Stock Exchange

First global data provider to process enhanced electronic document standard recently adopted by one of India's leading exchanges

 

MUMBAI - March 13, 2019 (Investorideas.com Newswire) Bloomberg announced today that it has successfully on-boarded XBRL data exclusively from the Bombay Stock Exchange ("BSE"), resulting in significant benefits to market participants in the preparation, analysis and dissemination of business information.

BSE is the first exchange in India to accept financial statements in the XBRL format, allowing for the extraction of data such as Shareholding Patterns, Financial Results, Voting Results, Corporate Governance data, as well as financial results from General and Life Insurance companies and Annual Reports.

eXtensible Business Reporting Language ("XBRL) is an electronic format for communication of business and financial data which offers major benefits to business reporting and analysis, resulting in better automation, cost control and more reliable data handling. The standard is widely used globally among financial regulators, stock exchanges, business registrars and listed companies. With implementation of XBRL, BSE has joined a growing number of international stock exchanges that have implemented XBRL based reporting.

"We are pleased to be first in the market to capitalize on these new data sets provided by BSE," said Ashlesh Gosain, head of South Asia Sales at Bloomberg. "Our clients will be able to leverage these rich data sets on our terminal, especially India's mid to micro-cap investors, who will see the timeliness and transparency of this data improve significantly. In addition, the available data for smaller companies has become much more robust and is now aligned with their larger counterparts, making disclosure levels more uniform across India's universe of listed companies."

Nehal Vora, Chief Regulatory Officer at BSE added, "Bloomberg has been an invaluable partner in ensuring investors have the best tools and technology to invest in India's growing markets. By adopting this document format, we are ensuring that local and international investors are given the transparency to invest confidently in India's mid to small-cap businesses."

On 18 February 2019, BSE announced that it adopted the XBRL taxonomy published by the Ministry of Corporate Affairs, Government of India, for filing of Annual Reports by companies

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From the date of accepting filings in XBRL format, BSE has received more than 21,000 XBRL documents.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia's first & now the world's fastest Stock Exchange with a speed of 6 microseconds. BSE is India's leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper & Oman Crude Oil.

BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE's systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.

Media Contact

Yatin Padia
022 2272 8516
yatin.padia@bseindia.com

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