Auerbach Grayson & Company, a New York-based brokerage firm that specializes in providing global trade execution and local market research to U.S. institutional investors, is the first global broker to provide its clients with equity research reports in the eXtensible Business Reporting Language (XBRL) format, according to the firm. The new offering will enable clients to search, analyze and directly compare financial research across Auerbach Grayson's global partner network in unprecedented detail using the new international XBRL reporting standard.
In order to adapt the XBRL file format to professional research reports and maximize its analytical value to clients, Auerbach Grayson has partnered with SavaNet, a New York-based financial software company that develops applications for the publication and analysis of XBRL-formatted reports for the institutional investment community. SavaNet's XBRL software enables portfolio managers and analysts to precisely search for companies of interest to them and automatically perform highly advanced valuation and analytics, which can easily be incorporated into their existing investment processes.
The partnership provides Auerbach Grayson's clients direct access to the content of extensive equity research libraries in detail, providing proprietary analyst coverage on public companies from the firm's exclusive broker partners in 121 developed, emerging and frontier markets worldwide in a format which allows for global, standardized, line-by-line comparison.
"The SEC's call for the standardized XBRL reporting language for corporate filings is aimed at making complex reporting documents easier to digest for investors," said John Burge, director of emerging market sales, at Auerbach Grayson, in a press release. "The institutional community is calling for the same ability to navigate and digest with ease the massive amounts of research available to them. Auerbach Grayson is pleased to be the first global broker to offer this service to its clients, enabling them to make more informed decisions based on better data in a much shorter timeframe," he added.