The Security and Exchange Commission has selected financial data provider Calcbench, through a competitive bid, to deliver subscription services to the agency. The award will allow a significant number of the SEC’s analysts to have access to Calcbench’s financial analytics platform, powered by eXtensible Business Reporting Language (XBRL).

Calcbench processes XBRL files in real-time, giving users access to rich, detailed financial data online and in Excel, just minutes after the information is filed. Calcbench allows anyone with basic analytical skills to take a detailed look at a company’s public disclosures over time for any “tagged” variable; to use “normalized” or mapped metrics; to derive key ratios or make other custom-built calculations from the data; to cross-compare these results across industries or across a custom benchmark set of companies; to flag possible errors with an audit trail leading directly back to the data as actually filed; and even to examine financial statement footnotes for keywords and key metrics.