ROCKVILLE, Md., Oct. 19, 2011 /PRNewswire/ -- EDGAR® Online,
Inc. (NASDAQ: EDGR), a leading global provider of XBRL
(eXtensible Business Reporting Language) software, services and
data, today announced a partnership with OTC Markets Group (OTCQX:
OTCM), the financial information and technology services company
that provides the world's largest electronic marketplace for
broker-dealers to trade over-the-counter (OTC) stocks. EDGAR Online
and OTC Markets Group will work together to develop and distribute
a number of data sets beginning in the first quarter of 2012. The
data sets, focused on OTC companies not reporting to the SEC, will
help provide transparency into the marketplace which will help
increase both visibility and liquidity.
Investment professionals and broker-dealers rely on a number of
data resources to support their investment decisions, better serve
their clients, and reach their target outcomes. While OTC
Markets Group works to make the unlisted markets more transparent
to investors, EDGAR Online serves hundreds of publicly traded firms
across multiple sectors and industries to improve the flow of
business information and author detailed filings to meet industry
regulations. Together, OTC Markets Group and EDGAR Online are in a
unique position to provide the investment community with
information currently not easily digestible in the marketplace.
"OTC Markets Group is creating a more transparent OTC
marketplace for investors by segmenting the market into the OTCQX,
OTCQB and OTC Pink tiers. One of the cornerstones of our
market tier hierarchy is the availability and timeliness of
financial disclosure that a company provides to market
participants," said Matthew Fuchs,
Managing Director – Market Data & Strategy of OTC Markets
Group. "By joining forces with EDGAR Online, we are able to provide
OTC investors with greater access to data in financial statements
and establish another avenue to disseminate this unique information
to third-party market data distributors' financial websites and
analytical databases."
Robert J. Farrell, President and
CEO of EDGAR Online said, "The ability to create and leverage
unique and sought after data sets using XBRL technology is a boon
to investors who want a reliable way to analyze and compare data to
support their financial decisions. We know XBRL better than anyone
else in the industry, and we're looking forward to working with OTC
Markets Group to bring that expertise to our joint customers
through these compelling data sets."
About EDGAR® Online, Inc.
EDGAR Online (NASDAQ: EDGR) is a leading global provider of XBRL
(eXtensible Business Reporting Language) solutions that improve the
flow of business information. The company delivers solutions
through its integrated portfolio of filing creation services, data
and analysis products and software. Clients include thousands of
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 Keane
Federal Systems under contract to the U.S. Securities and Exchange
Commission. Software solutions for global enterprises and
regulators are developed by UBmatrix, Inc., a wholly owned
subsidiary. The company delivers its services through an extensive
network of OEM and implementation partners including Oracle, PR
Newswire, RR Donnelley and SAP. To learn more about EDGAR Online,
visit www.edgar-online.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest electronic marketplace for broker-dealers to trade unlisted
stocks. Our OTC Link™ platform supports an open network of
competing broker-dealers that provide investors with the best
prices in over 10,000 OTC securities. We categorize the wide
spectrum of OTC-traded companies into three tiers - OTCQX (the
quality-controlled marketplace for investor friendly companies),
OTCQB® (the U.S. reporting company marketplace for development
stage companies), and OTC Pink™ (the open trading marketplace) - so
investors can identify the level and quality of information
companies provide. To learn more about how OTC Markets Group
makes the unlisted markets more transparent, informed, and
efficient, visit www.otcmarkets.com.
Use of Forward-Looking Statements
This press release may contain forward-looking statements.
These statements relate to future events or to future
financial performance and may include, without limitation,
statements regarding our future growth prospects, future demand for
our XBRL products/services and future innovations in our data and
solutions and subscriptions businesses. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any
future results, levels of activity, performance, or achievements
expressed or implied by these forward-looking statements. In some
cases, you can identify forward-looking statements by the use of
words such as "may," "could," "expect," "intend," "plan," "seek,"
"anticipate," "believe," "estimate," "predict," "potential," or
"continue" or the negative of these terms or other comparable
terminology. You should not place undue reliance on
forward-looking statements because they involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond our control and that could materially affect actual results,
levels of activity, performance, or our growth strategy. For
further information about the factors that could affect EDGAR
Online's future results, please refer to our filings with the
Securities and Exchange Commission. We assume no obligation
to publicly update or revise these forward-looking statements for
any reason, whether as a result of new information, future events,
or otherwise.
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.