FIBO Foundations Content Team Mike Bennett EDM Council
FIBO™ Foundations Content Team Mike Bennett EDM Council ● May 29, 2018 Confidential
Agenda 1) 2) 2) 3) 4) 5) 6) Confidential NEWS Open up the wiki with the currents weeks content Use Case reminder. Where are we on our road map. This weeks agenda: Go to JIRA The days content discussion EDM-Council/FIBO Foundations Content Team 2
NEWS • JIRA FND-196 – – • First real test of CCM production of Release OWL There were some issues with front matter Min 0 restrictions not supported and also not in policy, so removed Functional property did not round trip CCM SP 13 – Now available for beta testing – Mike Bennett testing that this week – Will run through the full range of ontology elements, restrictions, functional properties etc. – Also figure out what went wrong with the front matter • FIBO v 2 Draft in progress – – Confidential Metadata issues addressed Fatal error in Q 1 OWL addressed Diagrams in progress Substantive draft to be reviewed ny FDTF at June OMG EDM-Council/FIBO Foundations Content Team 3
FIBO™ Foundations Content Team Leaders name: Mike Bennett Title: Head of Semantics and Standards Organization: EDM Council The Team: Mike Bennett Bobbin Teegarden John Gemski Max Gillmore Rob Nehmer David Frankel Marcello Ceci Jeff Braswell Confidential 9/3/2021 EDM-Council/FIBO Foundations Content Team
Wiki • https: //wiki. edmcouncil. org/display/FND/ FIBO+-+FCT+-+Foundations+Home Confidential EDM-Council/FIBO Foundations Content Team 5
Use Case: FCTs Support • Each FCT needs to identify abstractions they need – Some exist in Production FND – Some are in Provisional FND or even Informative – Some are work for us to do • FCT use Cases - Wiki page – https: //wiki. edmcouncil. org/display/FND/FIBO+Co ntent+Team+Requirements+for+Foundations • NEW use Case: LCC / Countries alignment Confidential EDM-Council/FIBO Foundations Content Team 6
New Use Case: Countries • Previously, FIBO Foundations introduced Countries and related terms • Some of these have been replicated or improved upon in the OMG LCC standard • We now need to align FIBO FND Countries with LCC and identify elements to be deprecated Confidential EDM-Council/FIBO Foundations Content Team 7
Countries Use Case details • From Elisa Kendall: – There are so many dependencies on the content related to the locations ontology and on the country and subdivision codes. . . I know we've discussed replacing the classes in FND with LCC, but this is more urgent now for Wells. At a minimum, we need the equivalences, but I would like to deprecate / merge some of the content in FND in favor of what is in LCC, and delete the Ext duplicates where they exist. This has been on our agenda for over a year, as a part of the clean-up in the report I provided to Mike Atkin, which Dennis approved, but I have not actioned it until now thinking that your FCT would do so. It's now quite urgent for Wells - I need this to be done by the middle of the week of the 4 th due to project requirements, so since I have to do it anyway, it makes sense to provide the revisions back to FND rather than only for Wells. – I will make a proposal using Protege / powerpoint and in Git. Hub under FND-197, as I think we should retain some of the content under arrangements and simply make equivalences for those, whereas for some of the content under Location I think we should use the LCC classes / properties and deprecate those that are common in FND. Specifically, Country is in both places, and Geopolitical. Entity is in both places, and there are others as well. LCC is quite terse/small, so the number of changes should be minimal. – Once I have the slides together, can we put this on your FCT calendar for discussion and review? I can test some of it in my Wells extensions ontology as a starting point, but this would be a decent exercise to demonstrate finding and eliminating duplication, and also for merging content through equivalences, restrictions, etc. as appropriate. Confidential EDM-Council/FIBO Foundations Content Team 8
Follow-up • Email – The question is whether or not we're going to deprecate the FIBO concepts altogether, which would be up to your team. I did not do that, but there a couple of cases where it might make sense. – Email: – The latest version of my mappings file is in my fork, at FND 197 a, which incorporated the fix to 196 (not in the version I did over the weekend). If you would like me to walk through that with you, I can do so next week. – Email – I can make power point slides of the current proposal if I can't be there in person, and you can comment on it. Confidential EDM-Council/FIBO Foundations Content Team 9
LCC Alignment Summary • Reasons – Dependencies on the content related to the locations ontology – Dependencies on the country and subdivision codes • • Not sure why we have this level of detail in FIBO? Changes needed – Deprecate / merge some of the content in FND in favor of what is in LCC – Delete the Ext duplicates where they exist • Arrangements Module – Retain some of the content under arrangements and simply make equivalences for those • • What content? TBC Locations module – Use the LCC classes / properties and deprecate those that are common in FND – Country, Geopolitical. Entity • Timings – Needed by the middle of the week of the 4 th June Confidential EDM-Council/FIBO Foundations Content Team 10
Mapping OWL Confidential EDM-Council/FIBO Foundations Content Team 11
Other Use Case Work • Loans Concepts Coagulation – Spreadsheet from Michael Uschold – 2 areas remain • Name collisions – Identify common concepts versus heterographs • E. g. Product, Service, Facility • Focus of this week’s work • Legacy (Provisional + Informative) maintenance – Definitions issues – Dot ones / duplicate property names Confidential EDM-Council/FIBO Foundations Content Team 12
Recap since last meeting • FND-196 completed (by Elisa) – Including dependencies in Loans, FBC • Comments on unclear definitions in Reports related terms • In particular, the distinction between submitted by and reported by are unclear • Futher semantic analysis of reporting concepts Confidential EDM-Council/FIBO Foundations Content Team 13
Today’s Agenda • Review latest Homework: Reports Ontology Confidential EDM-Council/FIBO Foundations Content Team 14
Reports Ontology • Review of semantics of Reports – Applicable time is too narrow – Definition of Report has nothing related to the meaning of report, either in the current assertions or as improved upon – Clearer notion of Report as a whole and how this affects the simpler concepts surfaced in FND today. Confidential EDM-Council/FIBO Foundations Content Team 15
Reporting Ontology • Key: – Darker color = in this ontology – Lighter color = in another ontology Confidential EDM-Council/FIBO Foundations Content Team 16
has. Reporting. Period Semantics • has. Reporting. Period – Domain: thing (no domain) – Range: Explicit. Date. Period • This is a child of Date. Period • Which is odd because… • Restrictions: – There is a some. Values. From min 0 restriction on Report, with range of Date. Period i. e. broader • Changes in FND-196 on this: Confidential – Moved the restriction to have range 17 of EDM-Council/FIBO Foundations Content Team
Reporting Period • The property has. Reporting. Period is widely used and remains in Documents, untouched • It is not suitable as a parent of broader periods • Need a new property as a sibling to this Confidential EDM-Council/FIBO Foundations Content Team 18
Reporting Period Semantic Analysis • Reports may or may not be about something over some kind of time – Hence the all. Values. From restriction (allows for zero of this property) • If they are, at its most general a report may cover an instant, a period of time specified as one of a set of repeatable periods or an explicit period of time Confidential EDM-Council/FIBO Foundations Content Team 19
Report • What is a Report? • Verb: to report (vt) – Describes a communication to someone, about something, from the perspective of someone • Noun: Report – There are really 2 noun meanings applicable: Confidential • Nonification of the verb to report’ (‘a reporting’) • The information artifact that makes up the content of that communication EDM-Council/FIBO Foundations Content Team 20
Semantic Analysis of Report • Report – Is from the perspective of some individual entity • This entity may also be defined as the party from whose perspective the report is framed (relative thing) – Is reported to some entity – Is about some subject matter • Optionally that subject matter me be framed with reference to a period of time or a point in time Confidential EDM-Council/FIBO Foundations Content Team 21
Semantic Analysis of Report (cont’d) • Optionally, a report may be submitted to the reported-to entity by someone other than the party of whose perspective the report is representative – This is captured in the existing model by the separation of the reporting properties into two such, framed in terms of the regulatory reporting context Confidential EDM-Council/FIBO Foundations Content Team 22
Existing Concepts Definitions • Reporting. Party – a party providing a report, typically in response to some contractual, legal, regulatory or other business requirement • Submitter – a party presenting something, such as a regulatory report • is. Submitted. To – indicates the party to which something is submitted • is. Reported. To – indicates the party to which something is reported • is. Submitted. By – indicates the party that submits something • submits – presents something (a proposal, application, report, or other document) for consideration or review – (Merriam Webster) • is. Provided. By (in Relations, restricted for relation to Reporting. Party) – is made available by Confidential EDM-Council/FIBO Foundations Content Team 23
Semantic Analysis – Existing Concepts • Submission-like properties – Definitions are self referential and therefore it is not possible to determine which one relates to which concept Confidential EDM-Council/FIBO Foundations Content Team 24
Confidential EDM-Council/FIBO Foundations Content Team 25
Reports: Kinds of Thing • Treatment: elsewhere we have had to distinguish between a broad category of thing, and statements about specific instances of that kind of thing – E. g. in process: prescriptive versus descriptive occurrent as a basis for process models (not in FIBO itself) – In Products, used powertye approach to distinguish Product as a thing in the context of being marketed or sold • • In Schedules, we distinguished between parametric and explicit schedule but on the understanding that these both refer to the prescription of a (possible future, committed) set of cashflows or calculations Reports has the same challenge: – Report as specified (parametrically) as a prescription for a range of future reports = prescriptive – Report as described as being submitted on a given (past or future - day and time • Confidential Do we need both? EDM-Council/FIBO Foundations Content Team 26
Use Cases / Contexts for FIBO Usage • Do we need both prescription and description of reports? • Prescription: – Is referred ot in regulations describing reports – So needs to be in FIBO if we are to provide semantics of regulations • Description: – Seems to be what if referred to in existing Release notions of Report? – Reviewed the semantics of concepts using Report in FBC and Loans • Conflation – Can we legitimately conflate these 2 concepts? – This would require guidance to implementers on how the instance data should look in each of these 2 cases Confidential EDM-Council/FIBO Foundations Content Team 27
Existing Usage • In FBC: – Regulatory. Report is a child of Report – Definition: • a report required to support operational transparency that demonstrates compliance with some specification, law, policy, restriction, or other rule specified by a regulatory agency – Had min 0 Date period (not Explicit Date Period) until logic corrected – Prescriptive? • In Loans – HMDA Report • a report prepared to satisfy HMDA regulatory reporting requirements as described US section 1003. 3(c) of the Revised Home Mortgage Disclosure Act of 2015 • Descriptive – Credit Report • Refers to a specific credit report or the occurrence of a specific credit report about someone, within a lending process • Descriptive Confidential EDM-Council/FIBO Foundations Content Team 28
Reporting Semantics Actions • Replace definition of Report to reflect intended meaning and model semantics • Replace definitions for the two similar properties (and their inverses where appropriate) to reflect the distinction between – That from whose perspective the report is – That which sends the report in • Revise the class definitions for the related Parties accordingly • Fix the time element to refer to the most general kind of time available in Release Dates. And. Times ontologies Confidential EDM-Council/FIBO Foundations Content Team 29
Workload for 2018 Q 2 • Loans – Concepts developed for Loans but not in Release yet – Concepts not yet developed • Products and Services – Completion of the formal changes and pull request – Use CCM SP 13 – Check for complex OWL patterns and other challenges to this • Organizations – Complete the work that was discussed previously – Review and add concepts from recent end user requirements Confidential EDM-Council/FIBO Foundations Content Team 30
Loans Preparation for Release • What is required for Loans to be elevated to Release? • Work carried out for Loans that is in: – Provisional – should be able to elevate to Release • • • Catalog these Apply / check for compliance with ‘operational’ design rules Via CCM now that this is working Upgrade to SP 13 to be sure New ontologies, so complex OWL patterns not an issue – Informative • Identify replacement concepts to satisfy Loans usage of e. g. Line. Item that was moved to Informative • Work not yet carried out for Loans Confidential EDM-Council/FIBO Foundations Content Team 31
Loans Outstanding Work • Real. Property. Valuation requires Valuation – Conceptual model has this in broader framework of measurement – Add or bring forward to Provisional • Payment History; Scheduled Payment – Schedules in general • Prescriptive v descriptive occurrents – Occurr. ENCE v Occurr. ENT – See new treatment under Types – Identify Release (logical design) implementation for this Confidential EDM-Council/FIBO Foundations Content Team 32
Products: Next Steps for 2018 Q 2 • How do we fit this into the proposed Release ontologies? – Product Type? – Categories of Loan qua Loan versus Product Type – Do we need the meta concept of Type in Release? • How would Product Type be used? – Finding: Product is a ‘Type’ in this sense • Meanwhile the absence of any supertypes for Product, Service seems a little too physical Confidential EDM-Council/FIBO Foundations Content Team 33
JIRA Review • Close JIRAs that have been implemented – Cross reference Release Notes for Q 2 – Close against those • Triage remaining ones – E. g. the Russian fellow (1 new one this cycle, out of date) Confidential EDM-Council/FIBO Foundations Content Team 34
Products and Services Release • Missing: – Sub class relation from Off. The. Shelf. Product to Template – is. Template. For – still in Informative, not missing Confidential EDM-Council/FIBO Foundations Content Team 35
Organizations • New definition – a unique framework of authority within which a person or persons act or are designated to act for some purpose such as to meet some need or pursue some goals. • Broader than the original. – Org not a child of Collection or of Group – it’s a separate thing. • Formal Organization sub unit – Added restriction to say it is a part of an Organization – New concepts from VMBO (consortium etc. ) Confidential EDM-Council/FIBO Foundations Content Team 36
Other Things to Review • Transactions: – To be aligned with REA terms where these are surfaced within Release – Terminology to be aligned with REA (Obligations v Commitments not consistently named in current Release v Provisional). • Identify things that are not actually extensions and change IRIs accordingly, whether these remain as Informative or become Provisional • Review linkage to Commitment v Product Commitment in Release update of Products – We think that Product. Commitment can now be introduced as per Provisional work Confidential EDM-Council/FIBO Foundations Content Team 37
Next Meeting • We meet weekly – Tuesday at 3 pm Eastern Time – FCT leads invited • Homework Calls (Fridays) • Next call – No call next week (No. Magic World) – Next call in two weeks Confidential EDM-Council/FIBO Foundations Content Team 38
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