ROCKVILLE, Md. March 24, 2011 /PRNewswire/ -- EDGAR® Online, Inc. (Nasdaq : EDGR ), a leading global provider of XBRL (eXtensible Business Reporting Language) software, services and data, today introduced its I-Metrix® Money Market Holdings Dataset, which leverages the recent Securities and Exchange Commission requirement for monthly disclosure of money market portfolio holdings. EDGAR Online's customizable solution lets money market fund managers and risk management departments get to the data they need, allowing them to understand their risk profiles, benchmark against their competitors' risk profiles and quickly and efficiently position their funds in the market.
As noted by the SEC in its final rule regarding Money Market Fund Reform in 2007 and 2008, money market funds were exposed to substantial losses, first from exposure to debt securities issued by structured investment vehicles, then as a result of defaults on debt securities. These events, combined with general turbulence in the financial markets, led to a run on institutional prime money market funds. To help prevent future events that could dislocate short-term credit markets and strain businesses, the SEC now requires monthly filings from money market fund companies via Form N-MFP.
EDGAR Online developed its I-Metrix Money Market Holdings Dataset to allow companies to more easily derive value from the data submitted to the SEC. The solution provides users with information on specific sets of funds they wish to follow and specific sets of fields in any format. Fund managers can more easily benchmark their positions against other money market funds, while risk analysts can evaluate potential dangers within a money market fund portfolio.
"Money market fund managers want to better understand their positions and the positions of their competitors," said David Goldstein, senior managing director, EDGAR Online. "Our I-Metrix Money Market Holdings Dataset meets that need, while also helping users better understand their risk and exposure. EDGAR Online provides fund managers and analysts with more resources for evaluating and acting on their data."
EDGAR Online's I-Metrix Money Market Holdings Dataset features include:
- Custom datasets delivered in the required form within minutes after the SEC publishes data;
- Delivery of a specific set of funds to reduce the time and effort of collecting required information; and
- A choice of delivery formats, including CSV or XML, to reduce programming and set-up efforts for consumption by current systems.
The I-Metrix Money Market Holdings Dataset is a part of the I-Metrix suite of products offered by EDGAR Online. Other data products include U.S. public company fundamental data, as-reported XBRL data, institutional holdings data, initial and secondary public offering data, and insider data.
About EDGAR Online
EDGAR Online (Nasdaq : EDGR ) is a leading global provider of XBRL data, software and services solutions that improve the flow of business information. The company's integrated portfolio of products and services for global enterprises help them create, deliver, analyze and use quality information. Thousands use the company's solutions, including U.S. public companies, mutual funds, leading financial analysts and institutional investors, as well as global regulators such as the FDIC, Banque de France, and the U.S. Securities and Exchange Commission. The company delivers its solutions, including UBmatrix® XBRL software solutions, through an extensive network of partners, including LexisNexis®, NASDAQ OMX, Oracle, PR Newswire, RR Donnelley and SAP. To learn more about EDGAR Online, visit www.edgar-online.com.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events and/or our future financial performance and include, without limitation, statements regarding our future growth prospects, future demand for our XBRL business and future innovations in our data and solutions and subscriptions business. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements.
EDGAR® is a federally registered trademark of the U.S. Securities and Exchange Commission. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission.
SOURCE EDGAR Online, Inc.