Attachment 1 - SEC Draft Requirements List (XBRL Subscription Service).pdf
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- Attached to
- XBRL Subscription Service Federal contract opportunity
- Solicitation number
- 50310225Q0079
- Issued by
- Securities and Exchange Commission
About this file
This document is an Attachment 1 - Draft Requirements List for an XBRL Data and Analytics Service from the U.S. Securities and Exchange Commission (SEC). The draft requirements specify a web-based research platform that provides comprehensive access to XBRL and financial data from public SEC filings. The required service must offer time series company financial data, standardized financial metrics, corrected XBRL tags, parsed footnotes, and raw XBRL data from sources like 8-Ks, 10-Qs, 10-Ks, and proxy filings.
The platform must support advanced functionality including financial data searches by company name/ticker, metadata queries, targeted searches, company profile building, comparative analysis across companies and sectors, data export capabilities via Excel Add-In, and the ability to toggle between reported and restated figures. The service will initially support 40 users, with optional contract line items to increase user seats by 25 and 50 users. Additional requirements include biannual training and live web and telephone support. This is a Sources Sought notice for market research to identify potential vendors with existing Commercial Off-the-Shelf (COTS) subscription products meeting these specifications.
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Text version
SEC Sources Sought Notice: 50310225Q0079
Attachment 1 - Draft Requirements List XBRL Data and Analytics Service Requirements
The U.S. Securities and Exchange Commission (SEC) requires a web-based research platform that provides access to a database of XBRL and other interactive and non-interactive data from public filings submitted to the SEC.
The service shall provide access to the following:
Data
1. Time series company financial data, including as reported and restated figures
2. Standardized financial metrics, with traceability to source documents
3. XBRL tags corrected for errors and inconsistencies, with traceability to source documents
4. Parsed footnotes and other disclosures from, at minimum, 8-Ks, 10-Qs, 10-Ks, and 10-Qs, categorized by topic
5. Standardized data from earnings releases and other non-XBRL sources, such as Proxy filings
6. Raw XBRL data
Functionality
1. Ability to perform financial data searches for a supplied search term such as company name.
2. Ability to perform metadata or financial searches for a supplied company ticker, CUSIP or CIK to build company profiles and customized financial statements for analysis.
3. Ability to perform targeted searches that match user defined tags and location terms.
4. Ability to retrieve individual company descriptive information, financials and/or ratios.
5. Ability to query for companies based on specific filters or screening criteria.
6. Ability to perform period over period comparative analysis
7. Ability to compare disclosures across companies and sectors
8. Ability to export data and interact with the data via an Excel Add-In
9. Ability to toggle between viewing as reported and restated figures
Other
1. Access shall be provided for 40 users, with optional CLINs to increase seats by 25 and by 50 users.
2. Training biannually (2x a year)
3. Live web and telephone support
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