Abstract: An apparatus and method for providing security disclosure information in at least two aligned formats, the apparatus including security disclosure data in an audio format, a processor for receiving the audio security disclosure data and for inserting a first marker therein and said processor for creating a text from the audio security disclosure data and for inserting a second marker in the text in a position corresponding to a location of the first marker in the audio security disclosure data.

Abstract: An investment research delivery system is provided comprising a host for receiving investment research in a page description format, a transmitter at the host location for transmitting the page description format investment research, a database at a location remote from the host for storing investment research received from the host, permitting current research to be immediately rendered by investors in the author's original form. Investment research which has been stored on the remote database for the longest time is deleted as necessary to store the current research. Preferably, the host receives investment research from a plurality of brokers and broadcasts the investment research to a plurality of investors.