(This posting is being cross-posted to LAW-LIB, BUSLIB-L, and LEXISUSER-L.
The following press release will also appear in PR Newswire.)
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FOR IMMEDIATE RELEASE
Contact: Judi Schultz (513)865-7466
NEW INTERACTIVE SERVICE PROVIDES
REAL-TIME RETRIEVAL OF SEC'S EDGAR DOCUMENTS
ARLINGTON, VA., April 4, 1994 -- Securities and Exchange Commission
electronic EDGAR filings are now available on a real-time, dial-up basis to
subscribers of the new EDGAR Interactive Service.
The personal computer-based service will allow subscribers to download
documents filed through the SEC's Electronic Data Gathering, Analysis and
Retrieval (EDGAR) system.
The service is the fastest way to retrieve an EDGAR document from a
subscriber's own PC within minutes of acceptance by the SEC, according to
Paul R. Ring, general manager of EDGAR services for Mead Data Central, the
SEC subcontractor responsible for public dissemination of EDGAR materials.
Until now, EDGAR documents could be retrieved from a remote computer only
through the Internet telecommunications network on a one-day delay.
The EDGAR Interactive Service is updated continuously to match the same
document availability as the SEC's Public Reference Rooms, currently the most
expeditious way to retrieve real-time EDGAR filings.
"The interactive service will meet a demand from filing agents, law firms,
financial institutions, document retrieval companies and SEC-regulated
companies for real-time, retrieval of SEC filings at a low cost," Ring said.
Communications software provided with the service allows subscribers to ask
for documents by name of the company filing, type of SEC filing form or
acceptance date. From the list of documents that meet the search terms, users
can download the desired ones directly to PC disk. The SEC-regulated monthly
subscription price of the service is $3,500.
The SEC requirement that reporting companies make filings through its EDGAR
service is being phased in, eventually eliminating the traditional paper
filings.
To date, an estimated 3,500 corporations are filing via the EDGAR system,
and an estimated 8,000 companies will be filing by the end of this year. All
filers will be on the system by 1996.
Previously released regulated services offered by the EDGAR Dissemination
Service include a live broadcast feed of each day's EDGAR filings and
overnight tape services.
For more information about subscribing to the EDGAR Interactive Service,
contact Frank Cory at (703)908-7242 or 1-(800)542-9246.
The EDGAR Dissemination Service is operated by Mead Data Central, provider
of the LEXIS(R) legal research and NEXIS(R) business information services.
Under terms of its EDGAR subcontract, Mead Data Central must purchase
electronic SEC data services for its own commercial use in arms-length
transactions at the same prices available to all other subscribers.
Mead Data Central is a division of The Mead Corporation, a leader in forest
products. Both companies have headquarters in Dayton, Ohio.
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