FIBO Foundations Content Team Mike Bennett EDM Council
FIBO™ Foundations Content Team Mike Bennett EDM Council ● February 16, 2016 Confidential
Agenda 1) 2) 3) 4) 5) 6) Confidential 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
FIBO™ Foundations Content Team Leaders name: Mike Bennett Title: Head of Semantics and Standards Organization: EDM Council The Team: Dennis. Pierson@mphasis. com, dave. mccomb@semanticarts. com, e. abilahoud@ucc. ie, Dmitry_Bogachev@otpp. com, abcoates@contakt. org, uschold@semanticarts. com, mtempler@gmail. com, Harsh. Sharma 1@ge. com, marina. severinovskaya@citi. com, Kevin. Tyson@jpmorgan. com, jacobus. geluk@bnymellon. com, dallemang@workingontologist. com, igor_ikonnikov@manulife. com, ljb@tahoeblue. com, bobbin@nomagic. com, koethe@88 solutions. com, James. phare@datatovalue. co. uk, nigel. higgs@datatovalue. co. uk, Kieran. Mc. Keown@hsbc. com, Malcolm. HYDE@uk. bnpparibas. com, Maxwell. Gillmore@anz. com, ian. maung@citi. com, david@dfrankelconsulting. com, jgemski@thegoldensource. com, William. Nichols@treasury. gov, david_wynter@yahoo. com, nehmer@oakland. edu, saharajib 2001@yahoo. com, JLuciano@gmail. com, garethjisaac@gmail. com, christofr. hasse@ubs. com, stephen. j. creek@citi. com, email@jamesodell. com, mccarthy@bus. msu. edu, wim. laurier@ugent. be, eric. e. cohen@us. pwc. com, aldrich. wright@citigroup. com, aldrichwright@hotmail. com, andrea. engelstad@semanticarts. com, skcreek@gmail. com, stephen. j. creek@citi. com, DMBlaszkowsky@State. Street. com, akeen@keenassoc. com, david. vunkannon@treasury. gov , maxwellrgillmore@gmail. com, teegs@earthlink. net, martin. east@credit-suisse. com, steven. n. scott@citi. com, Toby. Berla@fmr. com, jlogan@nomagic. com, ch. hasse@gmail. com, szymon. klarman@datatovalue. co. uk, rene. pietzsch@eccenca. com Confidential 9/16/2021 EDM-Council/FIBO Foundations Content Team
Wiki Confidential EDM-Council/FIBO Foundations Content Team 4
Use Case: FCTs Support • Each FCT needs to identify abstractions they need – Some exist in Green FND – Some are work for us to do • New 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 5
Non OMG FIBO Key Po. C Legacy Refactoring/ testing 2015 Q 2 Public review OMG finalization OMG Spec 2016 Q 3 Q 1 Q 4 OMG Revision TF (RTF) also for FBC FIBOFND FTF 2 Legal Persons, LEI Entities; Beta 2 Ownership and Control Q 3 Q 2 Q 4 RTF 2 For Loans, FIBOFND vn Sec, Der ? ? ? FIBO-BE Final FIBO-BE v 2: Government, Jurisdiction Indices & FTF 2 Incorporate Indicators Beta 2 concepts in FBC Financial Business and Commerce Final RFC Securities and Equities Loans Common FIBOBE 2 FTF RFC Final RFC Dry Run Derivatives Po. C IR Swaps RFC Final Derivatives By Contract type; by underlying asset type RFC SKOS FIBO schema. org Confidential Other FIBO Components FIBO Market Data, CAE, Risk/Reporting FIBO Market Data, CAE, 6 Risk/Reporting FIBO Market Data, CAE, Risk/Reporting 6
Use Cases: Red v Pink Lattice ext/snap etc. QUDV Platonic REA Relatives Quantities Units. And. Measures Measurement. Types Monetary. Measures Quantities. And. Units Currency. Amount Confidential EDM-Council/FIBO Foundations Content Team 7
FCTs Support • Business Entities – Critical JIRAs for March release • FBC • IND – Critical JIRAs for March release • Loans – Up next… • Securities / Equity / Debt Confidential EDM-Council/FIBO Foundations Content Team 8
FBC Support • JIRA issue(s) have been raised against the FBC submission material for FND – Payment Obligation etc. • First, baseline has to be implemented (current RTF ballots) • JIRA Issue Resolution(s) to be worked on from March – Some issues spotted during review of OMG FIBOFND 11 -20 (Rates and Prices) Confidential EDM-Council/FIBO Foundations Content Team 9
Loans Support • See – https: //wiki. edmcouncil. org/display/LOAN/Recomm ended+Additions+to+Existing+FIBO+Ontologies • Loan Content slides at: – https: //wiki. edmcouncil. org/display/LOAN/Draft+Ov erview+of+Key+Loan+Concepts? preview=/255660 8/2556634/Loan%20 Concepts%20 Integrated. MU. pptx – Also have a mapping document for HMDA support – Lynn will share with the group on a future call Confidential EDM-Council/FIBO Foundations Content Team 10
Use Case: Red 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 (March / April) – and namespace considerations Confidential EDM-Council/FIBO Foundations Content Team 11
Anti-patterns Plan • • Confidential Numbers refer to numbered anti-patterns in spreadsheet See https: //wiki. edmcouncil. org/display/FND/Anti. Patterns+for+FIBO-V EDM-Council/FIBO Foundations Content Team 12
Where are we on our roadmap? • Quantities and Units – – • Continuants and Occurrents – – • Conceptual work done OMG / Pink FIBO sub-set of these concepts delivered by Elisa Updated by FBC Submission RDF/OWL still to be submitted into Git. Hub Conceptual work done Some now linked into legacy FIBO concepts Accrual schedules to be done Look at concepts needed for loans FCT Transactions – RED FIBO content to be introduced piecemeal as required – See JIRA issue on FBC inconsistencies with this – Next: Equity and Debt as Claims • Ownership and Control – Abstractions (Social Constructs) done – Control and Ownership alignment with these Confidential EDM-Council/FIBO Foundations Content Team 13
This Week’s Agenda • JIRA Issues – Final state of triage for Feb 2016 • Review remaining change actions for individual JIRA issues • What next? – Loans Support – Completing the REA / Transactions stuff for Q 2 Confidential EDM-Council/FIBO Foundations Content Team 14
Recap since last meeting • JIRA Issues (EDMC JIRA) – Completed JIRA issues resolution descriptiions – Got VOM libraries and latest install – Agreed who will do which • Common concepts for Loans Confidential EDM-Council/FIBO Foundations Content Team 15
JIRA Triage and Actions • Elisa Only: – – – • FND-7 People - identity docs EK working on FND-11 ‘uses’ (should not have been closed) EK – NOT RAISED FND-21 identifies. Address EK along with 7 and 30. IN FLIGHT FND-30 Natural Person – this is on. EK will add the synonym in FND-51 FND-52 (Rate, Price) for IND – EK DONE; OMG DONE Elisa and Dean – FND-29 Percentage (Dean / Elisa) THIS CYCLE? TBC • Mike – FND-37 Litigation Capacity DONE – FND-42 Legal Capacity Scope DEFERRED • PART OF FND-45 which is also DEFERRED – FND-49 FND-50 FND-56 Money Amount / Monetary Amount MB DONE • Mike Draft – Elisa to Review – FND-39 Physical address DONE • Elisa and Mike – FND-44 generic has. Address with 39. DONE Confidential EDM-Council/FIBO Foundations Content Team 16
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 17
New OMG JIRA Issues Required • For Written Specification – Front matter in the spec and update any references to UML, to be UML 2. 5 FIBOFND 11 -40 (51) – Update the Conformance section – FIBOFND 11 -41 (54) – Include notation section – 6. 3 descriptions of table notation. Copy and paste 6. 3 notation into FND; FIBOFND 11 -42 (52) – Blanket issue for any tables not updated by the FBC submission. FIBOFND 11 -42 (subsequent sub-issue) – Allow usage of all ODM in Clause 8 FIBOFND 11 -45 (53) • Revise the about files FIBOFND 11 -46 (50) – include the new ontologies – include reference to the issues that were resolved by the 1. 1 RTF • These are NOT listed in front matter (non normative) EDM-Council/FIBOFND 11 -26 (55) Foundations Content Team 18 Confidential
JIRA Issue Resolutions Status - EK • FND-7 21, 30 - People – EK doing when FND-44 complete • FND-11 uses Currency – DEFERRED • FND-51/52 Rate and Price – EK doing now Confidential EDM-Council/FIBO Foundations Content Team 19
JIRA Issue Resolutions Status - MB • FND-39 Physical Address – Proposals done, MB doing VOM now • FND-37 Litigation Capacity – Proposals done; MB doing VOM now • FND-49/50/56 Monetary Amount and similar concepts – Proposals done, MB doing VOM now • FND-44 has. Address – Proposals done, MB doing VOM now – Impacts People, Organizations also • NEW: FND-58 Definition of Commitment – Definition only, MB doing VOM now Confidential EDM-Council/FIBO Foundations Content Team 20
This week: Common Concepts for Loans • Looked at the example given – “… For example, we need a property that points to a contract that the current contract was based on in some way. E. g. for an assumed mortgage. • Where should it go: in the contracts ontology • Suggested name: "original. Contract" • Temporary name in the loans ontology: loans: fibo-ctr-mfuoriginal. Contract – The URI is prefixes with where I suggest it belongs, along with my initials "mfu" so they can quickly be identified. • Conclusions – Add to Contracts – Different name – New parent property Confidential EDM-Council/FIBO Foundations Content Team 21
Contract to Contract Relations • Confidential Open question: should there be a more general contractual style of relation of which has. Assumed. Contract is a kind? EDM-Council/FIBO Foundations Content Team 22
Common Classes for Loans – Disposition • • • • Confidential loan: fibo-pas-mfu-Offer loan: fibo-mfu-Valuation loan: fibo-fbc-mfu-Settlement loan: mfu-Report loan: fibo-alx-mfu-Measurement loan: fibo-mfu-Application. Document loan: fibo-mfu-Metro. Division loan: fibo-mfu-Metro. Stat. Area loan: mfu-EIN loan: adr-mfu-Email. Address loan: adr-mfu-Phone. Number loan: fibo-mfu-Specification (optional, for information artifacts that indicate how, what, when something should must or may be done. It includes agreements, regulations, monetary amounts etc. Makes for a less flat hierarchy. ) There is an sm: Specification, but it is a skos: Concept which is not what we want). loan: fibo-Inspection loan: fibo-instantiates loan: fibo-Insurance. Contract loan: fibo-Insurance. Type EDM-Council/FIBO Foundations Content Team 23
Common Classes for Loans – Disposition • loan: fibo-pas-mfu-Offer – Check Transactions /REA stuff – Unless bid v offer – in Priding – Clarify • loan: fibo-mfu-Valuation – Not sure • loan: fibo-fbc-mfu-Settlement – Transactions - exists • loan: fibo-alx-mfu-Measurement – In Green FND? Or Quantities Red broader work Confidential EDM-Council/FIBO Foundations Content Team 24
Common Classes for Loans – documents • loan: mfu-Report – Reviewed in detail – Made changes to original properties, types • loan: fibo-alx-mfu-Measurement – In Green FND? Or Quantities Red broader work • loan: fibo-mfu-Application. Document – – Confidential In Loan Applications already, type of Document Also application as application (what the doc supports) Aded “Form” Distinguish between activity, request, document etc. EDM-Council/FIBO Foundations Content Team 25
Documents Confidential EDM-Council/FIBO Foundations Content Team 26
Address Related • loan: fibo-mfu-Metro. Division – Add, on the geo side • loan: fibo-mfu-Metro. Stat. Area – Add, on the geo side • loan: mfu-EIN – ? • loan: adr-mfu-Email. Address – Add, as index to a location where Account is a kind of Locaiton and Email is a kind of Account • loan: adr-mfu-Phone. Number – Add to Addresses Confidential EDM-Council/FIBO Foundations Content Team 27
Continued… • loan: fibo-mfu-Specification – (MFU NOT: optional, for information artifacts that indicate how, what, when something should must or may be done. It includes agreements, regulations, monetary amounts etc. Makes for a less flat hierarchy. ) There is an sm: Specification, but it is a skos: Concept which is not what we want). – Already in Documents • loan: fibo-Inspection – To add • loan: fibo-instantiates – Surely a property? • loan: fibo-Insurance. Contract – Exists, in Collateral models. Elevae ot more general ontology and insurance contract type • loan: fibo-Insurance. Type – Add to the above model Confidential EDM-Council/FIBO Foundations Content Team 28
Homework for Next Week • No Issue Resolutions to complete • Tools to do this in: – VOM and Word • Loans • Transactions Confidential EDM-Council/FIBO Foundations Content Team 29
Next Meeting • We now meet weekly – FCT leads invited – Tuesday at 3 pm Eastern Time • Next call – Tuesday 16 Feb Confidential EDM-Council/FIBO Foundations Content Team 30
- Slides: 30