Investors to benefit from new OTC Markets partnership
One of the OTC Markets' goals is better visibility in order to give investors confidence. Recently, they partnered with EDGAR Online to enhance investors and companies' access to financial statements and company data.
Under the partnership, the two will transform company financial statements into an XBRL database. XBRL stands for eXtensible Business Reporting Language. Developed by XBRL International, it is a branch of the XML coding family, which allows businesses to communicate on across the Internet. According to XBRL Int'l, XBRL coding provides companies and investors with many benefits.
XBRL coding automates some company processes. Data entry and analysis is much more streamlined. Producers and consumers can now better analyze company statements. Data communicates back and forth, verifying information and correcting errors. Users can then search through the database in fractions of a second, quickly accessing desired information.
EDGAR Online uses XBRL in its ActiveXBRL(TM) solution. Through this system, EDGAR collects, validates, aggregates, reports and exchanges company information, forming a web of information to benefit companies and their investors.
Companies and investors are now able to access this information EDGAR online's website or through third party sites, such as Yahoo! Finance. Investors now have easier access to company information, simplifying their due diligence process and resulting in more educated decision making.
Especially in small companies, visibility is essential. Companies worthy of investment can now attract investors more easily, which will benefit both the investors and the companies.
The information contained in this article comes from an OTC Markets Group press release, as well as XBRL International and EDGAR Online's websites. For more information on this partnership, please contact the OTC Markets Group.
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