The SEC's proposal announced Wednesday for the phased-in adoption of the XBRL corporate reporting standard, an initiative that promises to introduce the benefits of interactive data to a broader investor audience is strongly supported by Business Wire.

With the largest U.S. GAAP filers (defined as those with a worldwide public float over $5 billion) submitting XBRL versions of financial reports to the SEC's EDGAR system for fiscal periods ending in late 2008, today's SEC proposal calls for the gradual implementation of XBRL.

The first interactive data provided under the new rules, if adopted, would be made public in early 2009. Over the following two years, the remaining companies using U.S. GAAP would provide this disclosure. For fiscal periods ending in late 2010, companies using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board would provide this disclosure.

Business Wire, as the only commercial newswire with its own in-house proprietary XBRL solutions, is uniquely positioned to help corporate issuers make the switch to interactive regulatory filings and news delivery.

In 2005, in association with the world's premier XBRL components vendor, UK-based DecisionSoft, Business Wire formed CoreFiling, which provides a range of expert consultation and implementation services to regulatory agencies and listed companies worldwide.

Business Wire's XBRL services has already been utilized by several blue-chip companies participating in the SEC Voluntary Filing Program. Business Wire's SEC submissions include tagged 10-Q or 10-K data in XBRL format and/or earnings releases in XBRL format.

Business Wire's patented NX news delivery platform, in addition to regulatory filings, is capable of transmitting XBRL-enabled documents, e.g. earnings statements, to the global media and investment community, simultaneously and in real-time.