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Reference Retriever: Go Get It!

June 8, 2015

Lexis®Securities Mosaic® is excited to announce the recent release of Reference Retriever version 2, available now on our SEC Filings search page.  Greatly improving on the previous version of the feature, the new release lets you fetch documents incorporated by reference with just a couple of clicks of your mouseRetriever

Below are some Frequently Asked Questions About the new Reference Retriever.

What pain point does the feature address?

In many situations, the SEC allows filers to fulfill disclosure obligations by merely referencing information from previously filed documents, in lieu of actually including this information.  Users who need to see these documents must leave the current document and hunt down the referenced one.  This “incorporation by reference” scenario disrupts research workflow and costs users valuable time.

 How does RR v.2 solve the problem?

Users who view SEC filings in Securities Mosaic can now instantly access referenced documents directly from the document they’re viewing simply by clicking a hyperlink.   As long as a referenced document has the information a human would need to find it (such as form type and filed date), it should have the red dotted Reference Retriever hyperlink.

How does the tool work?

Open the standard (HTML) version of an SEC filing after you’ve run a search.  You’ll see that within that document, the names of referenced documents (“10-K,” “Exhibit 4,” etc.) are hyperlinked in red.  When you click that link, the Reference Retriever tool opens in the pane to the left of the document, revealing a link to the referenced document and associated data (filer and filing date).  Click it, and the document opens.

RR screenshot

This functionality is made possible by a proprietary algorithm that identifies form types and exhibits within the text of a document, along with other identifying data.  The data is converted to search parameters that are executed when you click the link.

Why can’t I be taken directly to the referenced document when I click the hyperlink? (Why two clicks instead of one?)

This approach accounts for filing references that are ambiguous, avoiding the problem of a user hitting a dead-end because more than one document met the search criteria. (For example, Acme International Inc. files two 8-Ks on the same day.)   If multiple documents result from the search parameters, links to all relevant documents are displayed.  The user can typically identify the correct document from the short list of results; otherwise, he or she can open both documents to determine the correct one.

In even more rare instances, when the Reference Retriever is not able to return the target document automatically, the user may view and edit the auto-populated search parameters in order to refine the initial search.

Why is the Securities Mosaic Reference Retriever better than what competitors may offer?

Reference Retriever includes not only exhibits, but also full filings incorporated by reference.   It even offers exhibits or filings that are referenced outside of an incorporated by reference scenario.  It is therefore the most comprehensive such tool available.

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