Slide 1

Slide 1

Slide 2

Slide 2

XBRL at NZX

Slide 3

Slide 3

Presentation Overview

1. NZX overview– Team and Resources– Motivation

2. MAP (Market Announcement Platform)– Origin of MAP (2001)– Development process– How it works– Next Steps

3. Integration – First Step– Key integration challenges– Intelligent integration and cooperation– What Next?

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Slide 4

NZX Overview

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Slide 5

NZX

• 50 Staff• 11 IT Staff• 3 Web Staff

– 2 Web Developers– 1 Website/Data Manager

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Slide 6

Resources

Web team priorities:• www.nzx.com• map.nzx.com and XBRL• support.nzx.com• challenge.nzx.com

And future developments…• data.nzx.com

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Slide 7

Pre-MAP

ListedCompanyRelations

Team

Human Input

Listed Issuers

Human Input

Listed Companies NZX

MAP Database

Tandem

ExportData

Website

Limited input

Data vendors

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Slide 8

MAP (Market Announcement Platform)

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Slide 9

Origins of MAP

• Conceived in 2001• Prioritised in October 2003• Successful launch:

– Internally – September 2003– Externally – March 2004

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Slide 10

MAP - Market Announcement Platform

MAP allows Listed Issuers to create announcements and submit them directly to NZX for release to the market.

NZX’s Objective:• Information dissemination• Accurate information• Efficient Issuer information

exchange • Simple

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Slide 11

Status of MAP project

Release 2: Direct Listed Issuer AccessDelivered 29 March 2003– Listed Issuer staff are able to:

• create their own market announcements on the web• attach accompanying files• submit the announcement to NZX for release to the market. 

ExternalMAP

System

InternalMAP

System

MAP Database

Tandem

ExportData

Website

Data vendors

Internet

(https)

Listed Issuers

ListedCompanyRelations

Team

Quality Control

Internet(https)

Limited input*

*still uploading word documents Appendix 1, 11, 7

Listed Companies

NZX

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Slide 12

Key MAP Components

• XML Standards• User/Issuer Driven• Standard Announcement Options• SIMPLE

XBRL

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NEXT STEP: XBRL is the future

Release 3: A Richer MAPScheduled for release Q2 to Q3 2004

XBRL based Appendix forms refer to Appendix 1, 7 and 11 of the Listing

Rules in relation to Preliminary Financial Statements, Events Affecting Securities and Consolidated Cash Flow Statements.

ExternalMAP

System

InternalMAP

System

MAP Database

Tandem

ExportData

Website

Data vendors

NZX

Internet

(https)

Quality Control

Listed

RelationsTeam

Company Full input

Listed Issuers

Listed Issuers Database

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Slide 14

The Integration

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Slide 15

The Integration… First Step

And along came Project First Step…

MAP XBRL SIMPLE

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Slide 16

First Step overview

Companies involved:1. Telecom2. Sky City3. Cart Holt Harvey4. Fletcher Building

Limited 5. Auckland

International Airport Limited

6. Dairy Brands NZ Limited

7. Warehouse Group Limited

8. Northport Corporation of NZ Limited

9. Fisher & Paykel 10.NZSX 10 Fund11.NZX

What is the goal of First Step and MAP Integration?

• A platform that allows Listed Issuers to use MAP to submit electronic versions of Appendix 1 using XBRL.

Who is involved?• NZX• XBRL-NZ• The big four accounting firms• Selected Listed Issuers

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Slide 17

Key Integration challenges: NON-TECHICAL

• Appendix 1– GAAP/IFRS– Collaboration

• Simple for Issuers?– How – Tools– Collaboration

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Slide 18

Key Integration challenges: TECHICAL

• Architecture – Validation model – Version control– Database vs file system?

• Web delivery– 3months.com– cocoon

• Tools– Microsoft Products

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Slide 19

Success!

• A greatly improved Appendix 1 – Global access– User friendly form – High quality

• Bridges built – Intelligent focused cooperation - right

people at the right time – New relationships – Cross disciplines

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Slide 20

What Next?

• Distribution ($$)?• Issuer Uptake• Other applications for NZX business

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Slide 21