The filing date for the first monthly reports by money market mutual funds using the eXtensible Markup Language has arrived.
Beginning today, December 7, 2010, money market funds must deliver fund-specific and portfolio-specific information to the Securities and Exchange Commission, using Form N-MFP.
Slated for submission today are filings for the month ending November 30, according to the SEC.
The information will first become publicly available on the SEC’s website on January 31, 2011.
Funds should provide interested parties with a hyperlink to the SEC posting of the information, according to the SEC. Funds must link to 12 months worth of data, at the specific page where they are located.
Technical specifications describing how to comply with this requirement can be found here.
SEC staff discussion of the process and other aspects of money market fund reform can be found here.
Which may be creating a market opportunity for technology vendors in XML, just as with XBRL.
With reform, “fund administrators are seeing a significant increase in the amount of data they must disclose; however, the timeframe in which to report that data has rapidly decreased," said Scott Powell, product manager for Confluence, a vendor of software that automates report preparation and delivery via XML.