FIBO Foundations Content Team Mike Bennett EDM Council

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FIBO™ Foundations Content Team Mike Bennett EDM Council ● October 25, 2016 Confidential

FIBO™ Foundations Content Team Mike Bennett EDM Council ● October 25, 2016 Confidential

Agenda 1) Open up the wiki with the currents weeks content 2) Use Case

Agenda 1) Open up the wiki with the currents weeks content 2) Use Case reminder. 3) Where are we on our road map. 4) This weeks agenda. 5) Go to JIRA. 6) The days content discussion Confidential EDM-Council/FIBO Foundations Content Team 2

FIBO™ Foundations Content Team Leaders name: Mike Bennett Title: Head of Semantics and Standards

FIBO™ Foundations Content Team Leaders name: Mike Bennett Title: Head of Semantics and Standards Organization: EDM Council The Team: Dennis. [email protected] com, dave. [email protected] com, e. [email protected] ie, [email protected] com, [email protected] org, [email protected] com, [email protected] com, Harsh. Sharma [email protected] com, marina. [email protected] com, Kevin. [email protected] com, jacobus. [email protected] com, [email protected] com, [email protected] com, [email protected] com, [email protected] com, [email protected] solutions. com, James. [email protected] co. uk, nigel. [email protected] co. uk, Kieran. Mc. [email protected] com, Malcolm. [email protected] bnpparibas. com, Maxwell. [email protected] com, ian. [email protected] com, [email protected] com, [email protected] com, William. [email protected] gov, [email protected] com, [email protected] edu, saharajib [email protected] com, [email protected] com, [email protected] com, christofr. [email protected] com, stephen. j. [email protected] com, [email protected] com, [email protected] msu. edu, wim. [email protected] be, eric. e. [email protected] pwc. com, aldrich. [email protected] com, [email protected] com, andrea. [email protected] com, [email protected] com, stephen. j. [email protected] com, [email protected] Street. com, [email protected] com, david. [email protected] gov , [email protected] com, [email protected] net, martin. [email protected] com, steven. n. [email protected] com, Toby. [email protected] com, [email protected] com, ch. [email protected] com, szymon. [email protected] co. uk, rene. [email protected] com Confidential 3/11/2021 EDM-Council/FIBO Foundations Content Team

News! • FIBO-V Debt up and running – Debt common terms alignment for Loans,

News! • FIBO-V Debt up and running – Debt common terms alignment for Loans, FBC, SEC, Debt planned • FIBO-V CCM OWL (ex “Red FIBO”) classification consistency checking on stream • Alignment of Red v Pink model content under way • Collaborator reports include Pink placeholders • OMG Submission successful for: – FBC – BE – IND • FIBO-FND RTF Report deferred to February 2017 – Focus on getting one consistent FIBO in place. Confidential EDM-Council/FIBO Foundations Content Team 4

Wiki • https: //wiki. edmcouncil. org/display/FND/ FCT-FND Confidential EDM-Council/FIBO Foundations Content Team 5

Wiki • https: //wiki. edmcouncil. org/display/FND/ FCT-FND Confidential EDM-Council/FIBO Foundations Content Team 5

Use Case: FCTs Support • Each FCT needs to identify abstractions they need –

Use Case: FCTs Support • Each FCT needs to identify abstractions they need – Some exist in Green FND – Some are work for us to do • FCT use Cases - Wiki page – https: //wiki. edmcouncil. org/display/FND/FI BO+Content+Team+Requirements+for+Fo undations • How / when to turn these into JIRA issues Confidential EDM-Council/FIBO Foundations Content Team 6

Alignment: Red v Pink/Yellow/Green (was) FIBO-KR (“Red” FIBO) Upper Ontology ext/snap Sys. ML (QUDT)

Alignment: Red v Pink/Yellow/Green (was) FIBO-KR (“Red” FIBO) Upper Ontology ext/snap Sys. ML (QUDT) Social Constructs Transactions REA EDMC-FIBO Commitments Information Quantities Units. And. Measures Measurement. Types Quantities. And. Units Monetary. Measures Confidential Currency. Amount EDM-Council/FIBO Foundations Content Team 7

Alignment: Red v Pink/Yellow/Green (now) Conceptual material EDMC-FIBO ext/snap Upper Ontology etc Sys. ML

Alignment: Red v Pink/Yellow/Green (now) Conceptual material EDMC-FIBO ext/snap Upper Ontology etc Sys. ML (QUDT) Social Constructs DEBT Transactions REA LOAN Commitments Information Quantities SEC IND Units. And. Measures FBC Measurement. Types Monetary. Measures Confidential FND EDM-Council/FIBO Foundations Content Team BE 8

FCTs Support • Business Entities – – Ownership and Control abstractions Some domain and

FCTs Support • Business Entities – – Ownership and Control abstractions Some domain and range discrepancies Country Subdivision – not clear if still needed? Legal personhood for humans • • BE FCT agreed that Legal. Person should be in FIBO (not sure when though) FBC – Quantities, Payments, Schedules - FND comments in preparation • IND – Statistical quantity specific datatypes – Alongside Percentage problem (FND-28 and 29) • Loans – Contracts / terms – See web link (later) – plus new page – Sets and Collections, structured and unstructured • Securities / Equity / Debt – The Contract Terms Set question Confidential EDM-Council/FIBO Foundations Content Team 9

Loans Support • Maintained on LOANS wiki space – https: //wiki. edmcouncil. org/display/LOAN/Recomm ended+Additions+to+Existing+FIBO+Ontologies

Loans Support • Maintained on LOANS wiki space – https: //wiki. edmcouncil. org/display/LOAN/Recomm ended+Additions+to+Existing+FIBO+Ontologies – New feedback page • Maintained on FND wiki, for LOAN – https: //wiki. edmcouncil. org/display/FND/Feedback +on+FND Confidential EDM-Council/FIBO Foundations Content Team 10

Use Case: FIBO Anti-patterns • This is covered under Foundations although it embraces all

Use Case: FIBO Anti-patterns • This is covered under Foundations although it embraces all Domains in FIBO – Corrections of OWL misuses and shortcuts – Addition of simple Restrictions • Overview of the ongoing plan for Antipatterns • Alignment – current activity – New namespaces; align with Pink etc. Confidential EDM-Council/FIBO Foundations Content Team 11

Anti-patterns: the Story So Far • EA model of all legacy FIBO – Placeholders

Anti-patterns: the Story So Far • EA model of all legacy FIBO – Placeholders for Green Beta 1 FND and BE in 2013 • Adaptive: – Automated anti-patterns – Automated addition of simple restrictions • CCM – Remaining anti-patterns – Enumerations become classes etc. – OWL consistency checks (Pellet Classifier) • FIBO Vocabulary – FIBO Debt FCT reviews of this CCM model on Cameo Collaborator – Model begins to be integrated with Pink placeholders • Contracts, Parties • Securities is next Confidential EDM-Council/FIBO Foundations Content Team 12

Antipatterns Addressed ID 1 2 Anti-pattern Multi-parent Properties Description Properties with more than one

Antipatterns Addressed ID 1 2 Anti-pattern Multi-parent Properties Description Properties with more than one super property 3 Property Chains Where appropriate, create Property Chains for some of the multi-parent properties 4 No-parent Object Properties Some OPs have no parent 5 No-parent Datatype Properties All DTPs in EA have no parent. Fix this 6 Unions: Named concepts Some of the now-anonymous unions represented business concepts in older EA models 6 a Unions: Named concepts Some of the now-anonymous unions represented business concepts in older EA models 7 Unions: property ranges Unions that were “all of” or “any of” logical combinations 8 Enumerations 1 Use the correct meta-type for OWL 2 / ODM 1. 1 9 Enumerations 2 a Some of the enumerations of literal values in original model should be something more semantic 10 Enumerations 2 b Some of the enumerations of literal values in original model should be something more semantic 11 Bad Inverses Some properties given as inverses have different domain and range 11 a Named Inverses Some properties do not have inverses that should 12 Restrictions generation 12 a Restrictions generation Existing model has no restrictions; where properties are given in EA model, a restriction was always implied 13 Restrictions Refinement 14 Annotations Replace the automated restrictions above, to refer to simpler properties; remove the now redudant properties Some bad formatting in EA text fields causes missing annotations 15 Annotations - Explanatory Most editorial. Note should be explanatory. Note 15 a Annotations - Editorial Some original editorial. Note should still be editorial. Note 16 17 Random bad stuff Dependencies Some other minor inconsistencies in draft models Circular dependencies exist in the model, not reflected by explicit owl. Imports relations 17 a Dependencies Circular dependencies exist in the model, not reflected by explicit owl. Imports relations 18 Dependencies, impact on generation 19 Implement SME Change Requests Provide a list of the order in which to process content, which is needed at some stage in the Adaptive OWL generation. See separate list 20 Datatypes Deal with the business friendly datatypes 21 Confidential Association relations EDM-Council/FIBO Foundations Content Team 13 Object proerties that were rendered as Association not Ass. Class in EA

FIBO-V Repository – What is Where? • Pink FIBO • Red FIBO • Placeholder

FIBO-V Repository – What is Where? • Pink FIBO • Red FIBO • Placeholder copies of old Green – Along with Red stuff not incorporated Confidential EDM-Council/FIBO Foundations Content Team 14

FIBO-V Repository – What is Where? • Dependencies on Placeholders • Dependencies on existing

FIBO-V Repository – What is Where? • Dependencies on Placeholders • Dependencies on existing Red content • Being replaced with dependencies on current (Pink) – Corporate Bonds -> BE DONE – Parties in roles – in progress – Securities (FBC) Confidential EDM-Council/FIBO Foundations Content Team 15

This Week’s Agenda • JIRA Issues – Review current JIRA issues – Revisit March

This Week’s Agenda • JIRA Issues – Review current JIRA issues – Revisit March 2016 Triage: what’s left to do? • Go over the Contract Terms set issue • Prioritization and next actions – Getting our changes into Git. Hub / Production FIBO Confidential EDM-Council/FIBO Foundations Content Team 16

Roadmap / overall workload as of now • Loans cross-domain requirements – See wiki

Roadmap / overall workload as of now • Loans cross-domain requirements – See wiki – Identify or raise JIRA issues – Session with Mike Uschold tomorrow (MB) • BE cross-domain requirements – See JIRA triage – when are remaining ones needed? – IND cross domain requirements • New FND Subject Areas – Accounting – Products and Services – Dates and times Confidential EDM-Council/FIBO Foundations Content Team 17

Recap since last meeting • Reviewing new FND content introduced by other FCTs –

Recap since last meeting • Reviewing new FND content introduced by other FCTs – Detailed review tasks allocated – JIRA cross reference for these • Reviewed Loans cross-domain requirements • Reviewed JIRA open issues • Contract Terms /Terms Set / Collection / Commitment Confidential EDM-Council/FIBO Foundations Content Team 18

JIRA Triage OMG JIRA Cross reference • Elisa Only: – – – • FND-7

JIRA Triage OMG JIRA Cross reference • Elisa Only: – – – • FND-7 People - identity docs FIBOFND 11 -29 FND-11 ‘uses’ (should not have been closed) DEFERRED FND-21 identifies. Address EK along with 7 and 30. FIBOFND 11 -29 FND-30 Natural Person – FIBOFND 11 -29 FND-51 FND-52 (Rate, Price) for IND – EK DONE; FIBOFND 11 -20 Elisa and Dean – FND-29 Percentage (Dean / Elisa) DEFERRED • Mike – FND-37 Litigation Capacity FIBOFND 11 -43 (49) – FND-42 Legal Capacity Scope DEFERRED • PART OF FND-45 which is also DEFERRED – FND-49 FND-50 FND-56 Money Amount FIBOFND 11 -44 (48) • Mike Draft – Elisa to Review – FND-39 Physical address FIBOFND 11 -29 • Elisa and Mike – FND-44 generic has. Address with 39. FIBOFND 11 -29 Confidential EDM-Council/FIBO Foundations Content Team 19

JIRA Triage : Update since March 2016 • Elisa Only: – FND-11 ‘uses’ (should

JIRA Triage : Update since March 2016 • Elisa Only: – FND-11 ‘uses’ (should not have been closed) EK – FND-70 • Elisa and Dean – FND-29 Percentage (Dean / Elisa) LAST CYCLE? NOT DONE; DEFER – Alongside IND datatypes requirement • Mike – FND-42 Legal Capacity Scope DEFERRED • Confidential PART OF FND-45 which is also DEFERRED EDM-Council/FIBO Foundations Content Team 20

Ongoing JIRA Work • Elisa Only: – FND-11 ‘uses’ (should not have been closed)

Ongoing JIRA Work • Elisa Only: – FND-11 ‘uses’ (should not have been closed) Priority • • • New issue needed – property and definition Legacy model is. Tender. In w range Geopolitical. Entity Introduce inverse YES call it allows. As. Tender - firm up the required business meaning in Currency. Codes and ISO 3166 – this has relations about authority and about tender / usage. Impacts Currency. Codes and Currency. Amount. Elisa and Dean – FND-29 Percentage (Dean / Elisa) High priority • Mike – FND-42 Legal Capacity Scope Resolution Done • • PART OF FND-45 which is also – a resolution done Awaiting knowledge of whether or not BE needs it in this cycle (Sept) • BE – Resolution K Confidential EDM-Council/FIBO Foundations Content Team 21

JIRA: Resolutions Agreed • FND-70: Country uses currency – Deprecate “uses” usage for country

JIRA: Resolutions Agreed • FND-70: Country uses currency – Deprecate “uses” usage for country / currency • FND-67 Municipality – Rename to Municipal Area • FND-62 Independent Party label – Thought this was addressed? • FND 58 Antipatterns – Just post the actions taken • FND 45 – Control capabilities + FND-5 – Detailed resolution mapped out – Maybe more conceptual than FIBO needs? • • Confidential FND-42 has. Capacity scope FND-27 – minor addition of property EDM-Council/FIBO Foundations Content Team 22

JIRA: Next to Do • FND-5 Indirect Control + FND-8 is. Owned. By –

JIRA: Next to Do • FND-5 Indirect Control + FND-8 is. Owned. By – conceptual work done alongside other Ownership and control ones • • • Confidential FND-40 Owners. Equity FND-42 Monetary Amount restriction FND-43 part and members FND-48 Signatories FND-66 Currny restriction issue EDM-Council/FIBO Foundations Content Team 23

Promotion of existing ontologies – And review of these • FND-34 Address details (for

Promotion of existing ontologies – And review of these • FND-34 Address details (for LOAN) • FND-36 Contract physical elements (for Loan) • FND-53 Real Estate + FND-55 • FND-54 Documents • FND-68 risk model Confidential EDM-Council/FIBO Foundations Content Team 24

JIRAs in FBC/FND Cross-review • FND-33 and transactions v Products and services • FND-55

JIRAs in FBC/FND Cross-review • FND-33 and transactions v Products and services • FND-55 Economic Resource • FND-47 Payment Obligation Confidential EDM-Council/FIBO Foundations Content Team 25

JIRAs with BE cross-dependencies • FND-35 People / sovereign etc. – = Resolution K

JIRAs with BE cross-dependencies • FND-35 People / sovereign etc. – = Resolution K in BE • FND 45 – Control capabilities + FND-5 – Detailed resolution mapped out – Maybe more conceptual than FIBO needs? – = Resolution E? Confidential EDM-Council/FIBO Foundations Content Team 26

Don’t really know • FND-24 Macroeconomics – Surely more conceptual? Confidential EDM-Council/FIBO Foundations Content

Don’t really know • FND-24 Macroeconomics – Surely more conceptual? Confidential EDM-Council/FIBO Foundations Content Team 27

Conceptual to Logical Transformations • FND-8 is. Owned. By align to new “Lattice” •

Conceptual to Logical Transformations • FND-8 is. Owned. By align to new “Lattice” • Also consider level of detail needed in – FND-24 – FND-45 + FND-5 – FND-68 – FND-34 Confidential EDM-Council/FIBO Foundations Content Team 28

Contract Terms • Earlier work – Summarized below and in May 10 slides –

Contract Terms • Earlier work – Summarized below and in May 10 slides – Work from May 10 all in FIBO-V OWL and CCM • Subsequent activities – Equate Terms Set with commitment – Rename to … Term • Then – Contract confers Commitment – Commitment (Term) qualified. By ABC • Property chain (implied only for FIBO) – The chaining of the 2 above gives Contract has. Term – So we don’t use this directly • Contracts also have iniiual terms other than Commitmet, e. g. termination, warrantis and representations – Thse are has. Term relations – Only seen in FND-36 Confidential EDM-Council/FIBO Foundations Content Team 29

Idea (after: disposition) • Don’t use transitive property: Contract confers Commitment qualified. By Is

Idea (after: disposition) • Don’t use transitive property: Contract confers Commitment qualified. By Is also a has part relation Debt Contract has. Interest. Terms Interest Payment Term has. Rate Qualify his with an editorial note Confidential EDM-Council/FIBO Foundations Content Team 30 percentage

Planning and Conclusions • Need to participate in the common debt alignment cross-domain activity

Planning and Conclusions • Need to participate in the common debt alignment cross-domain activity – Initial session with Dean and Elisa early next week – Bring in the other debt players subsequently (part of FBC FCT workload) • Continue to align the FIBO-V work with this – and ACTUS – Will be a challenge to do all this and deliver a November RTF Report • Crack on with the work described here – Likely that co-ordinating with the JIRAs and the other moving parts would point to a March Reston RTF Report – To be determined Confidential EDM-Council/FIBO Foundations Content Team 31

Homework for Next Week • Issue Resolutions to complete – To be listed •

Homework for Next Week • Issue Resolutions to complete – To be listed • Homework – Review FND material added by FBC, IND – Transactions concepts for Products and Services – Quantities – Open JIRAs • e. g. sells. To and buys. From issue • New concepts needed by e. g. Loans FCT Confidential EDM-Council/FIBO Foundations Content Team 32

Next Meeting • We meet weekly – FCT leads invited – Tuesday at 3

Next Meeting • We meet weekly – FCT leads invited – Tuesday at 3 pm Eastern Time • Next call – Next call: 1 November Confidential EDM-Council/FIBO Foundations Content Team 33