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SEC monitors XBRL uptake with Edgar datasets and analytics

17 September 2010  |  2980 views  |  0 Source: Edgar Online

EDGAR® Online, Inc. (NASDAQ:EDGR), a leading global provider of XBRL filing services, data and analysis tools, today announced that the U.S. Securities and Exchange Commission (SEC) has selected the Company's XBRL Datasets and its I-Metrix Professional analytics toolset to analyze financial information provided by public companies in XBRL.

In addition to EDGAR Online's "As Reported" XBRL Dataset, which includes detailed information from every Form 10-K and 10-Q document furnished to the SEC in XBRL format, the SEC will be able to leverage a unique database of more than 11 years of historical standardized XBRL data on all publicly held companies, offered only by EDGAR Online through its I-Metrix products. I-Metrix combines financial data from Form 10-K, 10-Q and 8-K filings with equity pricing data, financial ratios and a variety of other data sets including institutional ownership and insider transactions to deliver one of the most comprehensive insights available into business financial information.

I -Metrix Professional is an established suite of interactive data and analytical tools offering the SEC extensive flexibility to organize and analyze EDGAR Online's award-winning company information and detailed XBRL-tagged financials. The SEC can use I-Metrix tools to leverage over 7,000 data elements from more than 12,000 companies for easy comparisons as well as sophisticated quantitative analysis based on fundamental data and custom modeling capabilities.

"The SEC's selection emphasizes the critical importance of XBRL for the future of financial reporting," said David Goldstein, Senior Managing Director of Global Product & Market Development of EDGAR Online. "Integrating more than a decade of historical financial information with our current XBRL 'As Reported' Dataset allows our clients, including the SEC, to run more rigorous analysis on individual companies, as well as specific sectors through EDGAR Online's I-Metrix Professional toolset."

In addition to working directly with the SEC, EDGAR Online is advancing financial transparency and the quality and efficiency of business information by bringing the power of XBRL to a wide variety of users. The Company's data and I-Metrix tools have been used in the marketplace for more than five years by institutional and retail investors, as well as bas by the corporate finance community for business information analysis.

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