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: Cleveland Law Library Weblog

SEC Is Migrating from Static "EDGAR" System to Interactive "IDEA" Database

By Cleveland Law Library

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According to an SEC Press Release, by the end of this year, the Securities and Exchange Commission hopes to migrate its information on public companies and mutual funds from the EDGAR system to an entirely new database called IDEA. IDEA stands for Interactive Data Electronic Applications. The acronym means what it says, and in contrast to EDGAR's form-based system of 10K's, 10Q's and other online documents, IDEA will allow users to search a database of data on all companies, collate information, and create reports and analyses like never before. To make its conversion even easier, the SEC is even toying with requiring public companies and funds to submit their data filings using interactive data. The SEC has not indicated when it will discontinue access to EDGAR. Some of the features that will be available in the new SEC database have already been provided (for a subscription fee) by vendors such as 10-K Wizard, Edgar Online, Inc. and Global Securities Inc. (now owned by Thomson), which provides LIVEDGAR.

Full post as published by Cleveland Law Library Weblog on August 25, 2008 (boomark / email).