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Yi Wang CTO, Data Services Ivy Li Director, Equity Data Collection

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Presentation on theme: "Yi Wang CTO, Data Services Ivy Li Director, Equity Data Collection"— Presentation transcript:

1 Yi Wang CTO, Data Services Ivy Li Director, Equity Data Collection
XBRL at Morningstar Yi Wang CTO, Data Services Ivy Li Director, Equity Data Collection

2 About Morningstar Founded in 1984
Provider of investment research information Office in 22 countries 2500 employees globally Core competence: Research, Design and Technology Morningstar in Asia Back offices in China, India and Thailand Joint venture in Japan, Korea Hong Kong, Taiwan and Singapore

3 Overview – Our Experience
XML based data infrastructure Adoption of XML in since early 1998 Company-wide adoption since 2002 XML driven report generation engine XML data packages Early participant in ICI working group Processing XBRL for both fund and equity Providing software using XBRL data 10K Wizard Other products Benefits we experienced in XBRL/XML Accuracy Ability to provide flexible presentations to data Flexibility in supporting proprietary data extensions Operational efficiency

4 Overview – Future Plans
Expand coverage Corporate actions Global markets: China, Korea, Japan and many more Products & Services Alerting services Full incorporation of XBRL data in B2B data deliveries Incorporate methodologies, business rules, templates of data presentation, labeling and multiple language supports into various taxonomies The role we can play for XBRL

5 What we do with XBRL

6 What we do with XBRL Parsing US GAAP US Mutual Fund Risk & Return
China: Shanghai Stock Exchange and Shenzhen Stock Exchange Japan: FSA, Tokyo Stock Exchange Korea: Kosdaq Analyzing Business rules to normalize parsed data Data analysts check data quality and consistency Client solutions Directly presenting the data at real-time with full text searching capability Power Morningstar products

7 Product XBRL Adoption: 10K Wizard
Our initiative started when SEC began proposing initial specifications We database all tagged items, making them available for searching and alerting We incorporate all the XBRL into our search engine, making them fully searchable along with other text and meta data Technical development – in products: Incorporating content into our platform; Display and download of raw XBRL from filings LINK; Development of our own viewer, allowing viewing and downloading of XBRL in a more traditional financial statement format LINK; Technical development – under development: XBRL alerting Peer analysis tools as we get a larger critical mass of data from SEC Full incorporation of XBRL data in our B2B API Inclusion of other XBRL content; i.e., other countries and agencies

8 Challenges Data quality issues by filer Incorrect values
XBRL formatting errors Differences between data in traditional text filing and XBRL filing Manual consolidation Keeping up with taxonomy revisions Changes to collection and storage system Maintain consistent history Different taxonomies around the world Balancing scalability and flexibility

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