Paris, France (PRWEB UK) 5 December 2013
UBPartner (http://www.ubpartner.com), the leading European provider of XBRL information exchange solutions, announced today the availability of the latest version of the UBmatrix XBRL Processing Engine (‘XPE’) - XPE 5. This follows the successful completion of an extensive testing phase by a number of European financial regulators and major financial management software vendors.
XPE 5 represents the next generation of XBRL technology for both generating and validating XBRL documents. It offers a new Virtual Object Model that enables the processing of large XBRL documents, an advanced optimizer to increase the performance of complex XBRL formulas, improved multi-threading capabilities to enable XBRL systems to scale and a reduced memory footprint.
“Our clients and partners are telling us that the next 18 months is a critical period in the development and adoption of XBRL in Europe,” said Steve Berdah, Chief Technical Officer at UBPartner and member of the board for XBRL France. “The new European bank reporting framework driven by the EBA and the adoption of XBRL by EIOPA for insurance company reporting will significantly extend the demands placed upon XBRL software. Therefore, UBPartner and its key clients and partners have embarked upon an extensive phase of testing to ensure that our XBRL platform is ready to deliver the best performance in class, be 100% compliant with the new taxonomies and enable more advanced XBRL systems than seen previously.”
XPE has been at the forefront of XBRL adoption and has often led the way in supporting new XBRL standards, such as Dimensions and Formulas, hence its deployment as a core component of some of the largest and most complex XBRL systems to date. XPE is already used extensively across the region and has been the platform of choice for many of the European banking supervisors who decided to be early adopters of XBRL for bank reporting. Current customers include both regulators and reporting banks in countries such as France, Belgium, Luxembourg, Poland, Ireland and Norway.
XBRL is still developing and maturing as a standard. Maintaining support for the complete set of XBRL standards is a key role for the development teams in Seattle, India and Europe. XPE 5 supports all of the latest XBRL recommendations, including native Inline XBRL processing, and is continually tested against both the relevant XII conformance suites and an extensive internal conformance suite consisting of the major taxonomies. A network of worldwide implementation and OEM partners also tests XPE against local taxonomies and reporting frameworks, making XPE one of the most tested XBRL platforms and ensuring 100% XBRL standards compliance.
“Our European customers, not only want exceptional performance; they also expect a processing engine and tools that can support any taxonomy and the complete XBRL standard. XPE is the only processing engine that can be deployed anywhere to support a wide variety of use cases. Every time it has delivered on its promise and been at the heart of a successful implementation. Our European customers trust that XPE will continue to deliver on its promise.” - Roger Haddad, President, UBPartner.
The latest version will be made available for download from the UBPartner download website in the coming weeks for customers and partners who have current agreements.
About XBRL (eXtensible Business Reporting Language)
XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and numerous government agencies. The XBRL standard is maintained by XBRL International – http://www.xbrl.org.
About Edgar Online and UBmatrix
EDGAR Online (‘EDGR’) and UBmatrix are divisions of R.R. Donnelley & Sons having been acquired in May 2012. XBRL technology, including XPE, is integrated into its US SEC and other XBRL related activities. More information at - http://www.edgr.com.
UBPartner is a privately owned company with headquarters in Paris and offices in London. It provides a full suite of solutions and services that enable companies and regulatory agencies to realize the benefits of XBRL – from the underlying processing engine, to desktop development and deployment tools, all the way to packaged solutions for regulators and government agencies.
UBPartner is the exclusive distribution agent for EDGAR Online’s leading XBRL software in Europe Middle East and Africa. It works with leading system integrators, regulatory reporting specialists and major software developers to deliver a wide range of XBRL based solutions.
XPE is used today in many advanced and demanding XBRL environments such as market regulators, government agencies and major corporations in France, Belgium, UK, Ireland, Poland, Norway, and Luxembourg and by leading software vendors, such as Oracle, SAP and Infor.
For further information, visit http://www.ubpartner.com.