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 Morningstar.com 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