ASC X12

AAA

DEFINITION of 'ASC X12'

The Accredited Standards Committee (ASC) X12 is a body that develops electronic data interchange (EDI) standards and related documents for national and global markets. It was chartered by the American National Standards Institute (ANSI) in 1979 to develop uniform standards for inter-industry electronic interchange of business transactions.

INVESTOPEDIA EXPLAINS 'ASC X12'

The ASC X12 body meets several times a year to develop and maintain EDI standards that streamline business transactions. These transactions include order placement and processing, shipping, invoicing and payment, as well as data interchange between entities involved in finance, insurance, education and government.

RELATED TERMS
  1. Interchange

    A transfer of information from one computer to another electronically. ...
  2. Interchange Rate

    A fee charged by banks that covers the cost of handling and credit ...
  3. Financial Accounting Standards ...

    A seven-member independent board consisting of accounting professionals ...
  4. eXtensible Business Reporting Language ...

    A standard that was developed to improve the way in which financial ...
  5. American National Standards Institute ...

    An organization that oversees the creation and dissemination ...
  6. Bulldog Market

    A nickname for the foreign bond market of the United Kingdom. ...
Related Articles
  1. Microsoft Excel Features For The Financially ...
    Professionals

    Microsoft Excel Features For The Financially ...

  2. Direct Access Trading Systems
    Options & Futures

    Direct Access Trading Systems

  3. The Global Electronic Stock Market
    Trading Systems & Software

    The Global Electronic Stock Market

  4. Entrepreneur Vs. Small Business Owner, ...
    Investing Basics

    Entrepreneur Vs. Small Business Owner, ...

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center