FIBO Foundations Content Team Mike Bennett EDM Council

FIBO™ Foundations Content Team Mike Bennett EDM Council ● January 30, 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 • CCM Ingest from Git. Hub – Odd workaround needed even for published Dev ontologies – Additional blockers on TWC file round tripping – No. Magic helping – things to try • FLT reconsidering IRI structures – May require global changes in CCM ahead of corresponding OWL ingest • Conceptual v Operational Ontologies: – Some very productive conversations on this at the Leadership Team – will help focus published FIBO pragmatic requirements – As per other FCTs this group needs to be aware of and work within those requirements – Up to now those have been a matter of instinct and therefore hard to comply with Confidential 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 9/8/2021 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/FI BO+Content+Team+Requirements+for+Fo undations Confidential EDM-Council/FIBO Foundations Content Team 6

Priorities • 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 7

Recap since last meeting • FND Q 1 Priorities: Name collisions – Focused on Service and related terms – Good results on the intended semantics of the Release models – Issues in Release itself e. g. polysemy which may or may not be intended (design rationales not known) – Ongoing Confidential EDM-Council/FIBO Foundations Content Team 8

Today’s Agenda • Review of Services, Facilities, related concepts Confidential EDM-Council/FIBO Foundations Content Team 9

Name Collisions • Services and related terms • These include – Service Provider – Capability – Facility – Site – Venue Confidential EDM-Council/FIBO Foundations Content Team 10

Procedural Challenge • FIBO is its own conceptual model • To understand the intended meanings of things in legacy there are 2 challenges – Things that were refactored to refer to the Release thing – Ingested OWL removes references from Release hings to conceptual abstractions • Example: Credit Facility now shows up as a child of Release Facility Confidential EDM-Council/FIBO Foundations Content Team 11

With that in Mind… Confidential EDM-Council/FIBO Foundations Content Team 12

Services – Old (legacy content) Confidential EDM-Council/FIBO Foundations Content Team 13

Services – New (Release content) Confidential EDM-Council/FIBO Foundations Content Team 14

Services – New (zooming in) Confidential EDM-Council/FIBO Foundations Content Team 15

Review conclusions: • Seem to be the same business concepts but with the world carved up differently at the joints • Need to reconcile in order to realign old model content to new concepts • Some of the Release concepts may be polysemic – Intentionally or otherwise? • Homework: Review these Confidential EDM-Council/FIBO Foundations Content Team 16

Analysis this Week • Service – Same concept? – Legacy: involves some activity. This seems definitional of a service (distinguishes it from Product) – But uses Activity (in deleted ontologies) – Implicit in Release? – Implicit in Capability? Or Alternative necessary condition? Confidential EDM-Council/FIBO Foundations Content Team 17

Service Conclusions • Service in relation to Activity versus Service in relation to Capability? – Define service in relation to Activity – BIAN notion of Service includes Facility relation – This is a heteronym • In fact marketable things include Service (qua Activity) and Facility as a kind of Right • Other marketable Rights include IP Rights • Then: – Service as an activity includes the activity of provisioning some Facility Confidential EDM-Council/FIBO Foundations Content Team 18

Inference Issue • These seem to make Facility and Service coextensive Confidential EDM-Council/FIBO Foundations Content Team 19

Facility • Legacy one created as parent to Credit Facility (for Loans) • Release one provides a capability at a site • MISSING: has. Identity relation • Credit Facility – Is an option to borrow money – Has no site at which it is provided (even notionally) • Exchange etc. – Also kinds of facility – These do involve a location where the facility is provided (virtual or physical) Confidential EDM-Council/FIBO Foundations Content Team 20

Facility Definition • Facility: – something that is built, contrived, established, or installed to serve a particular purpose, or make some course of action or operation easier, or provide some capability or service Facet 2: Function Facet 1: Form Intersections: 12 categories of Thing Are these categories of thing coherent from a set theoretic point of view? We certainly don’t need 12 of them! Confidential EDM-Council/FIBO Foundations Content Team 21

Facility: Segregating the Concepts • Credit Facility – Does not involve some built facility at some location • Facility as per Facilities Management – is a built thing • Conclusion: – Need a more general category of Facility of which Credit Facility is a kind – Narrower class of Facility below that of which the facility is provided at some site • Then – Service by which a Facility is provided talks to the most general category Confidential EDM-Council/FIBO Foundations Content Team 22

Facility Semantics • Facility - just a providing a structure or a building or a machine to do something, you aren't forced to do it, you are given the option to do it - just like the credit facility. • Facility is the provision of some right to do something – Facility IS the enablement of something • Facilities in another sense – Includes the navigational pathways among buildings and such like (the Facilities Management sense) Confidential EDM-Council/FIBO Foundations Content Team 23

BIAN • How does BIAN conceptualize good, service, retainer (estate planning services) etc. – BIAN divides the bank landscape into 300 service centers. Each of which provides something that someone is held accountable for. • 3 of the 300 have the word Facility: – Credit Facility – Merchant acquiring facility – Credit card provision facility. Confidential EDM-Council/FIBO Foundations Content Team 24

Facility • Most general concept: – Facility is something which provides the enablement of something. • Credit Facility and physical facility including exchanges, can be separate specializations of that concept. • Then specializations of this would be: – One that situates a machine or building or structure to entail that provision. Confidential EDM-Council/FIBO Foundations Content Team 25

Types of Service • A can do a thing e. g. draw up an estate plan for you. – Service here is the estate planning – Retainer is the terms under which I get that service • Retainer pays for the Facility to draw upon the Service – Retainer is a specialization of Facility – Option to use the service, just like a credit facility – these not a specialization of Service since these are not in the same hierarchy Confidential EDM-Council/FIBO Foundations Content Team 26

Conclusions: • In the sense given here: – A facility can include make available a service which is an action. – Service is a marketable action or activity(ies) • Service can include where you wrap up a facility and make it available. – In the BIAN sense. Confidential EDM-Council/FIBO Foundations Content Team 27

Service and Facility • Facility is the option to use a X where X may be a Service • Service is defined in relation to an Activity • There is a kind of service where the activity is making available a Facility • This is not circular – different activities in each case Confidential EDM-Council/FIBO Foundations Content Team 28

Capability • Probably a heteronym – Legacy Capability is a social construct used alongside capacities etc. to define ownership and control – Is the ability to do or to be done by – Release Capability is the capacity to provide a thing • Is capability linked to service or to the activity? – Makes sense that the service is manifested as an activity whereas the retainer example e. g. lawyer, is like a credit facility in that it is the option to draw upon the service. Confidential EDM-Council/FIBO Foundations Content Team 29

Capability • Release concept Capability - the only usage of it is a Security Listing – Which is a facility? – No it's a service because it provides an activity I can buy. • Issue: Security Listing should be a kind of service. Confidential EDM-Council/FIBO Foundations Content Team 30

Site and Venue • Site – A site is a place, setting, or context in which something is situated. – Synonymous with legacy “Venue”? – Release has Venue, maybe different concept? • Venue – A place where something happens, described in the context of the event or activity that occurs there • Legacy: Venue is a child of Site – Site: • A place, setting or context in which something is situated. – Venue • A place where something happens, described in the context of the thing which happens. – This is the same so can be deprcated Confidential EDM-Council/FIBO Foundations Content Team 31

Service Provider • Should surely be a Functional Entity (defined by function not being party to some contract Confidential EDM-Council/FIBO Foundations Content Team 32

Next Steps • Build out the Informative (conceptual) representation of these concepts in a coherent hierarchy of sets of things – Facility – most general versus physical – Service, Site etc. • Then identify how to link the use case driven operationalizable ontology requirements (Release) to these – Expose only what is needed for use cases – Must be coherent with Informative structure – OR design decisions to make certain concets polysemic should be recorded – In these cases, revise the restrictions to not contracdit the meanings – At present the restrictions aren’t right. Confidential EDM-Council/FIBO Foundations Content Team 33

Future Work • Values Refactoring – Done for Provisional / Informative. Next phase of Cory's work will cover Release (including FND) • Legacy Clean-up – Was to be a future FCTs' task but will refactor these for an easier baseline for future work. • Lifecycle as metadata in Annotation. Vocabulary – rename to avoid confusion with the conceptual notion of Lifecycle – No sign of this issue – label is given as ‘maturity’ Confidential EDM-Council/FIBO Foundations Content Team 34

Loans Remaining Terms • 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 – Occurr. ENCE v Occurr. ENT – Prescriptive v descriptive occurrents 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 Confidential EDM-Council/FIBO Foundations Content Team 36

Products Fine tuning • Review completed 2017 Q 4 mode content • Missing assertions for template / contractual products? – Or are they in another ontology? • Commitment v Product Commitment • Informative Line Item and related – Need to inform Loans to use something else that these are documentation of • Lifecycle v Product Lifecycle Confidential EDM-Council/FIBO Foundations Content Team 37

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 38

Duplicates • John Gemski spreadsheet analysis – Many duplications; most of these are inherited properties and restrictions as expected – Some actual duplicates detected • Example: has. Capacity • Overall analysis – types and reasons • What to do with these Confidential EDM-Council/FIBO Foundations Content Team 39

Duplicate Terms Analysis: Reasons • The same concept (to be deprecated) • Different concepts with the same name • The same business concept but framed with different semantics • Any of the above but we don’t know which yet • Property names anti-pattern hold-outs • Re-use of abstraction names for more specific concepts in Release Confidential EDM-Council/FIBO Foundations Content Team 40

Next Meeting • We meet weekly – Tuesday at 3 pm Eastern Time – FCT leads invited • Homework Calls (Fridays) • Next call – Next call 6 Feb 2018 Confidential EDM-Council/FIBO Foundations Content Team 41