FIBO Foundations Content Team Mike Bennett EDM Council
FIBO™ Foundations Content Team Mike Bennett EDM Council ● February 05, 2019 Confidential
Agenda • News • FNMA requirements • FCT Changes / ‘Use Case’ review • Ratings Proposals Review • JIRAs Review / status – New Jiras and triage – FND-233 Party in Role ID Proposals • CCM Usage and Diagrams • Address Po. C • FND Roadmap Confidential EDM-Council/FIBO Foundations Content Team 2
NEWS • No news Confidential EDM-Council/FIBO Foundations Content Team 3
Fannie Mae Requirements • Ratings – see separate slides • Evaluating FIBO concepts that are needed to support MBS and the like – Understanding the class hierarchy in FIBO – Seeing a lot of mixed concepts – Want to tighten those up in the near term – Find the essential partitions and derive things from those – See informal diagram to show the questions that’s will arise Confidential EDM-Council/FIBO Foundations Content Team 4
Cory Diagram Confidential EDM-Council/FIBO Foundations Content Team 5
Housekeeping • Main Wiki page for reference – https: //wiki. edmcouncil. org/display/FND/FI BO+-+FCT+-+Foundations+Home • Open Actions Review Confidential EDM-Council/FIBO Foundations Content Team 6
“Use Case” = FCTs Support • This section: – Survey of recent Pull Requests, look for FND changes and requirements • Monitor the FND wiki page for new requirements – https: //wiki. edmcouncil. org/display/FND/FIBO+Content+Tea m+Requirements+for+Foundations Confidential EDM-Council/FIBO Foundations Content Team 7
BE: Business Entities • Nothing seen Confidential EDM-Council/FIBO Foundations Content Team 8
DER: Derivatives • DER-60 – No FND Impact – Deprecates usage of Time. Ext informative temporal concepts Confidential EDM-Council/FIBO Foundations Content Team 9
FBC: Financial Business and Commerce • FBC-143 – No FND impact • FBC-196 – No FND File changes – Questions about Classifier etc. (FND concepts? ) Confidential EDM-Council/FIBO Foundations Content Team 10
FBC-196 Entity Expiration Reason • Status: – Taken to FLT for the question of whether to ‘cutter up the upper ontology’ • Clutter up = have numerous classes that have no parent • (as distinct from, have a lot of classes in the upper ontology or FND itself) – Resolution: Guideline but not hard rule to have abstract parent classes where it seems appropriate • This JIRA: – Distinction between code list and what the ‘thing’ is that the code list is for – Code lists may be in ontology if they are a public (usually published) kind of code, otherwise they are regarded as application code – This time around FCTs need Code List because the ‘real thing’ (reasons) not yet available via CAE etc. – Dependency <> semantics • Decisions (FND) – Whether to include ‘Reason’ as a thing? – Ancestry of existing CAE concepts in this area Confidential EDM-Council/FIBO Foundations Content Team 11
IND: Indices and Indicators • Nothing seen Confidential EDM-Council/FIBO Foundations Content Team 12
SEC: Securities (Equities, Debt) • SEC-77 – No FND impact • SEC-80 – No FND impact Confidential EDM-Council/FIBO Foundations Content Team 13
LOAN: Loans • Nothing new Confidential EDM-Council/FIBO Foundations Content Team 14
Ratings • 1. Two new properties, evaluates and its inverse, is. Evaluated. By, have been introduced in the relations ontology rather than in Ratings, as they are more general than ratings, following our policy for introducing properties at the highest level where they might be or are used, and so that they can be reused by other ontologies more easily. • 2. The 'reports on' property has been introduced in the Reporting ontology, rather than in the ratings ontology, again following our policy of introducing properties at the highest level where they are used (domain of report). Confidential EDM-Council/FIBO Foundations Content Team 15
Ratings – General Note • 3. Classes called 'Type' or 'Kind' have largely been avoided per our naming conventions and recommendations by several ontologists on our team, including but not limited to me, so I have eliminated 'Kind' from Assessment. Activity. Kind. Use of 'Kind' at the end of metaclass names might be appropriate in some settings, but Occurrence. Kind is the only case I'm aware of that uses this convention in FIBO. There is no concept of a metaclass in description logics, including in OWL, unlike UML. Confidential EDM-Council/FIBO Foundations Content Team 16
Ratings Review Confidential EDM-Council/FIBO Foundations Content Team 17
CCM Status • CCM 19. 0 SP 1 is available – coordinated upgrade for TWC Server access – New features: see • https: //docs. nomagic. com/display/CCMP 190 SP 1/19. 0+LTR+SP 1+Versi on+News – FIBO-Master Switch-over date • Participants asked to do this on line • Date TBA this week • CCM SP 2 Beta testing – Offline on MB machine Confidential EDM-Council/FIBO Foundations Content Team 18
CCM FIBO Master Repository • Content OOD – Reflects current diagrams etc. – Requires considerable refactoring to ingest latest • When to replace with clean ingest – Create new Project repository on TWC – Restart diagrams in agreed styles • Decision (FND FCT 29 Jan): – Not to do diagrams switch-over at this time – Suggest we hold for FIBO v 2 OMG Specification document refactoring • This WILL require a new approach to diagrams Confidential EDM-Council/FIBO Foundations Content Team 19
CCM TWC Project FIBO-Master • Output on Alfresco out of date – 2 reasons: 1. Ingest into CCM out of date awaiting Catalog change – Catalog now available 2. Latest ingest mid 2018 was not output due to an output issue – This has now been resolved – Tests to follow Confidential EDM-Council/FIBO Foundations Content Team 20
Diagrams Decisions • • Once we reingest OWL we can output freshened up business facing diagrams Meanwhile proposals to ‘restart’ the CCM management process to create all diagrams from scratch – – Viable for moving to more automated spec Not viable for hand curated diagrams • • • Last week decision – – Confidential They got good feedback and airplay at the last FIBO ‘Vocabulary’ launch and subsequent Bonds SME reviews But have not been used recently at all Decided we were not ready to move to new Repository at this time What are the blocking factors? EDM-Council/FIBO Foundations Content Team 21
CCM and Diagrams • Implications of decision not to move across to new Repository at this time – – – • Confidential Will take considerable work to get the FIBO-Master realigned with OWL Diagrams than all to be reviewed / revised Mny of these need reqork and refactoring anyway per OMG AB comments If we are able to move to a new TWC Repository in the coming weeks then we should do that and not spend time on FIBO-Master EDM-Council/FIBO Foundations Content Team 22
Go to JIRA • Working backwards from most recent Confidential EDM-Council/FIBO Foundations Content Team 23
FND-233 • Need a separate identifier for party-in-role – Currently we have identifiers for organizations, but not for parties-in -role at the highest level. Examples include identifiers for customers / clients, borrowers, lenders (in the role of lender rather than for the financial institution per se), etc. • Follows discussions on Pull. Req for FBC-212; per Dean: – I don't feel that this discussion has really socialized this change fully - I'd particularly like to hear from @Cory. Casanave about whether this particular change makes any commitments that he thinks will get us in trouble in the future. – If not, then I say we merge this in and continue to tackle the difficult issues around identification as we continue to develop FIBO. • Discuss… Confidential EDM-Council/FIBO Foundations Content Team 24
FND-233 MB comments on FBC-212 Thread – The issue of identifiers for things-in-functions (as for things-in-roles) is a complex one. – In most cases one would expect that an identifier issued to an entity for the purpose of some function, is still issued to the entity as an entity. – There are likely few data sources out there that define thing-infunction or thing-in-role concept directly, so unless the identifier is in an isolated data source that belongs only to the content of that function (as an implicit context) it's likely it is assumed to belong to the independent entity. – A simple way forward would be what we did with LEI which was to recognize that eligibility was relative but identification remained that of the independent thing. – The litmus test is this: would the same bank, performing two such functions, have a separate identifier for both functions? • And if so, would these always be from entirely separate schemas (one schema per function)? – If this is the case, then the identifier could indeed identify the relative thing. Confidential EDM-Council/FIBO Foundations Content Team 25
FND-233 PR Comments in Pull. Req Thread • What about the example I gave of Customer. Identifier which is arguably associated with a Thing(? )In. Role; or an Employee identifier? • Even a SSN is arguably associated with a Person in Role of Citizen of one Country (I have one for US and another for UK). • So this needs more consideration IMO Confidential EDM-Council/FIBO Foundations Content Team 26
FND-233 EK Comments in Pull. Req Thread • That's a different challenge - service providers are functional entities, and we have not made them disjoint from independent parties, though I think we should. • It was the fact that the organization identifier applied to organizations, which are disjoint from agent-in-role that caused the issue, but only because there was another inference for the individuals in question that inferred that they were also parties (from has. Domestic. Ultimate. Parent). • So, to address your issue I will raise another issue [FND-233] to add an identifier for a party in role – but that will be separate from an identifier for a functional entity regardless – unless we make all functional entities parties in role, which we have not done to date. Confidential EDM-Council/FIBO Foundations Content Team 27
Role v Functional Relativity • Relative Thing = contextually defined thing • Contexts: – – – Role Function Actor in process Underlying of a derivative Examples elsewhere: • Catalyst • Thing. In. Role is just one example, where the context is the role • Functional. Entity (in BE) is separate Confidential EDM-Council/FIBO Foundations Content Team 28
Alternative Pattern (Cory) • We could also have a supertype of legal entity and legal entity in role – I have needed such patterns before. Confidential EDM-Council/FIBO Foundations Content Team 29
Disjoint Relation(s) • PR: A short term fix for Elisa's inconsistency issue would be to remove the disjointness I have always argued was wrong - this adds weight to that. – CC: Until we have factored out (or decided to ignore) differences between a role inhering in the entity (Dennis is a pilot) or a role with respect to something else (Dennis is a pilot of [with respect to] flight UA 101), I agree the disjointness is over-committed to a particular implementation pattern. • EK: it's up to the Foundations FCT whether or not we eliminate the disjointness, but that does not change the fix that I have made, which would be correct in either case. Confidential EDM-Council/FIBO Foundations Content Team 30
FND-233 Theory • Case 1: Relative Need, Independent Thing Identified – Example 1: LEI – Example 2: SSN etc. (Resident is relative) – In Example 1, what is identified is the independent thing • For example, one identifier for being ‘an employer’ does not refer to any specific employer / employee relation, is is ‘about’ the Independent Thing – In Example 2, we scope the model to treat certain relative things as being de facto independent for our usages • Make sure this is appropriate for all usages • Case 2: Relative Need, Relative Thing identified – What is identified must itself be thing in the role – This would be at whatever level is the Relative Thing – Indication: there is a class specifically for one thing in one role in a specified context • Not compatible with multiple classification of individuals! Confidential EDM-Council/FIBO Foundations Content Team 31
FND-231 • “Cannot distinguish locations that are points vs those that areas” • Response (posted today) – These are conceptual abstractions (good ones) • In general: Introduce the need for new conceptual abstractions by way of a use case or formal requirement for one of the other FCTs or from a Po. C • Requirement has now been confirmed – This Jira to be actioned as stated Confidential EDM-Council/FIBO Foundations Content Team 32
FND-229 • Incorrect usage of ‘trigraph’ in definition for Currency. Identifier – Sounds fair. – Implement as seen Confidential EDM-Council/FIBO Foundations Content Team 33
FND-228 • An ad hoc schedule entry should be a child of collection constituent – Thought it was – Make it so! Confidential EDM-Council/FIBO Foundations Content Team 34
FND-226 • Definition of Agreement • Follows from changes in FND-224 – Requirement already agreed as part of that work – Distinctions are in the wording – To be done as seen Confidential EDM-Council/FIBO Foundations Content Team 35
Addresses Po. C • Premise: the abstractions in FND as published should be adequate for the edge cases that keep being mentioned – An address is an index to a location – Distinguishes information (address elements) from places they refer to • Separately, standards like US Pub 28 are about the layout, not either the meanings or the things referenced • This is a 3 rd dimension of the problem • How to demonstrate this? – Do a simple Po. C – Introduce Individuals to FIBO for representative jurisdictions Confidential EDM-Council/FIBO Foundations Content Team 36
Address Po. C Next Steps • Pick a time • Inputs – Interesting address challenges – Pete Rivett – Other address challenges – MB • Westward Ho! – Usage contexts to support • People – PR, MG, MB, JG • MB to circulate note to attendees – Focus of Po. C is on physical addresses – FIBO Address pattern also covers virtual Confidential EDM-Council/FIBO Foundations Content Team 37
FND Roadmap • Planning spreadsheet; for 2019 Q 1 • See Wiki page at: – https: //wiki. edmcouncil. org/display/FND/Roadmap+Spreadsh eets Confidential EDM-Council/FIBO Foundations Content Team 38
Next Meeting • We meet weekly – Tuesday at 3 pm Eastern Time – FCT leads invited • Homework Calls (Fridays) as needed only • Addresses Po. C one-off • Next call – 12 February 2019 Confidential EDM-Council/FIBO Foundations Content Team 39
- Slides: 39