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IDEA

IDEA is the acronym for the newly created "Interactive Data Electronic Applications" system, a new completely electronic filing system currently being implemented to replace the Electronic Data-Gathering, Analysis, and Retrieval aka "EDGAR" system by the Securities and Exchange Commission .

Expanded Definition

IDEA was announced by the SEC on August 19, 2008 and will be implemented on a gradual basis alongside EDGAR over the next few years . While many details have not yet been released, the SEC aims for IDEA to completely bring filings into the digital age, unlike the EDGAR system which more or less archived scanned paper filings. Users of the IDEA system will be able to be search filings much more quickly for relevant data. IDEA will be open to use by the public.

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Related Fool Articles

http://www.fool.com/investing/high-growth/2008/08/20/the-sec-has-a-new-idea.asp

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Relevant External Links

[http://www.sec.gov/spotlight/idea.shtml]

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