About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Information Builders Launches New XBRL Reporting Platform

Subscribe to our newsletter

Business intelligence solution vendor Information Builders has launched a new platform for the filing of global financial reports in XBRL format. The WebFocus Financial Reporting Exchange platform is aimed at reducing the cost and complexity of filing these reports in XBRL, as required by the Securities and Exchange Commission (SEC), says the vendor.

The SEC has mandated that every public company categorised as “large accelerated filers”, with a public float of more than US$5 billion, must file in XBRL by 15 June 2009. All other large accelerated filers are slated for transition to XBRL in 2010, and every other publicly traded issuer is scheduled for changeover in 2011.

“By automating the reporting process end to end, our customers can now easily publish their performance and financial data in WebFocus for internal benchmarking while meeting the reporting requirements not only for XBRL, but also for Basel II, IFRS, and other global reporting standards,” claims Gerald Cohen, president and CEO of the vendor.

WebFocus Financial Reporting Exchange uses a UBmatrix XBRL processing engine to support the range of XBRL taxonomies. XBRL formatted financial reports are therefore generated automatically by the solution, including the validation of taxonomy structure and data, says the vendor.

Robert Kugel, senior vice president of Ventana Research, is confident that XBRL will be extended beyond its current remit of financial reporting within the US. “XBRL can and will be used for more than external financial statements. Public and private companies will use it for their internal reporting purposes because it can increase the accuracy and relevance of their management reports,” he contends.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

UK Equity Consolidated Tape and EU MiFIR – Two Data Regimes, One Control Problem

The UK’s proposed equity consolidated tape is framed as a response to long-standing fragmentation in equity market data. By aggregating post-trade information and an attributed best bid and offer across trading venues, the tape is intended to provide a single, standardised view of UK equity trading. At the same time, transaction reporting under the Markets...

EVENT

Eagle Alpha Alternative Data Conference, Spring, New York, hosted by A-Team Group

Now in its 9th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...