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CoreFiling announces SpiderMonkey Professional, a desktop taxonomy editing tool to help filers create high quality Interactive Data disclosures

Washington, 16th October 2008

With the SEC poised to finalize its ruling on mandatory XBRL-based filings, CoreFiling has announced the availability of SpiderMonkey Professional, the must-have tool for those companies now filing, or preparing to file, their financial statements in the XBRL format.

"We are making SpiderMonkey Professional available to SEC issuers, their advisers and third party consultants because there is a clear need for a dedicated desktop taxonomy development tool that individuals will find easy to use. You can buy it today at our website," commented John Turner, CoreFiling CEO.

"In our view, the process of producing and even reviewing company extension taxonomies is very difficult without a dedicated taxonomy editor. SpiderMonkey Professional is the newest addition to the best-in-class SpiderMonkey family. The US GAAP taxonomy was built with SpiderMonkey. You can be confident that SpiderMonkey Professional is the right tool for the job, whether you are producing your own XBRL filing, producing clients' filings, or reviewing the work of your service bureau."

"With SpiderMonkey Professional, users can very rapidly create an accurate, complete extension taxonomy for use with their instance document, or review and improve the taxonomies produced by their service provider or instance document production tool. It's fast, easy to learn and easy to use."

XBRL filings comprise an instance, or data document, that captures facts at a given point in the reporting cycle, together with an extension taxonomy, or definition document that provides crucial information about the way that a company defines various aspects of its disclosures. While the extension taxonomy changes less frequently than the data document, it is the more complex of the two parts of the filing. SpiderMonkey Professional makes it easy to build, review and improve the extension taxonomies that will be submitted to the SEC.