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Dennis Wisnosky




20151109 FIBO-SEC FCT

Presentation slides – 


DOL is the "Distributed Ontology, Modeling and Specification Language"


Slide 4 gives status Inventory is in Redline for FND due in today ­ on track. 17 major issues,19 minor issues.  Also some AB comments to process.


Last week's BE diff exercise: This is finally moving forward, one ontology at a time. Started to look at some of these issues, specifically FBC­65 (definitions for trade, position, holding an exposure.  Gareth has been working on some issues ­ see later slide. 


Progress on individuals?  Not done e.g. MB specifics, has been focusing on UK specific registrars and the like. Has a question whether we are missing a member owned savings organization ­seems to be commonality of concept between the US Thrift space, and the similar UK concepts, which may include Building Society. That is why this concept is in the non jurisdiction space.  Thrift in the US also includes credit unions. Will include the UK Building Soc, and some Canadian concepts. Need to formalize whether the defining property is that it is member owned. Can add a restriction for that if needed. Gareth has also pulled in the high level regulated activities.  Also done some of the EU aspects as well. We may need to address FBC­50 and one other, for Gareth to be able to build out some of the required concepts. EK­ in looking at some of the definitions we need to start taking a look at the summary for Financial Instrument, IRI strategy and FBC­74.  FBC­74 is on whether to remove some of the US specific annotations or add EU related comments. EK has not found a common family of things to cover non depositary institutions, and the name non depositary is used in existing terminologies. Gareth notes that these do exist but would be a union not a common parent class.  EK notes that a union can also be a parent class in the overall taxonomy.   So we are still seeking a common concept that is relevant to non depository, if one exists. Also whether this exists outside the US as well (MB thinks it probably does ­ though that doesn't answer the question of whether this is one kind of thing of a combination of several).  


Slide 6 Securities and Equities in Pink. No diagrams on these this week, we will start to see diagrams next week. Also a spreadsheet with the definitions to look at, and an account of the Protégé restrictions, so we can vet the material.  There is some stuff in the basic Securities module. Decided to put off Tax Treatment. Not sure what the dependencies are for the securities risk ontology ­ whether to do that near term or put that off.  Securities Identification is currently in 2 ontologies, need to pull that up. Have merged a number of onotologies ­ move dup to financial Instruments in FBC some of the stuff that was in Securities.  Also classification schemes in FND, which Securities can make use of.  Most of the current Schedules ontology goes away. Pools was merged with portfolio management as this was a small ontology and a lot of people care about these. Elisa and Richard have spent a lot of time on these, making modeling choices. For those who are comfortable with Protege and Github, these ontologies are all there to look at if you have a GitHub account. Can give GitHub access to any here who need that.


From next week, we will have some serious walk­through time. Please review FBC this week, as we will have less time for that once we start on SEC.


Slide 7 Homework:  Gareth working on the individuals, which can go into GitHub. Need to flesh out the use cases. May add these as an annex, or do something with them on the EDM Council site outside of the spec. This is to help people understand how the ontologies may be useful.  Dean Allemang helping Elisa check point the version submitted into OMG, in GitHub, as a baseline before we make any changes. LCC also being revised for La Jolla meeting . There will be a new version of LCC before the end of this week.


Slide 9 next few meetings.  Nov 16 and 23 for walk through of Securities, if people are around on 23rd.


Looking at Securities, with current imports from FBC. Can use Elisa's catalog to load everything in Protege.  Suggest we keep such catalogs in GitHub for people to use. Note that Basket is also included under Security. (which is odd since a basket is not a kind of contract) it's a collection of things.  Registered Security and Listed Security are included.


Q from RB: By listing registered security distinct from equity instrument ­ confirm these are not mutually exclusive?  That is correct. Definitions need work on sourcing. Identifiers ­ need more on that. Basket should be a sub class of Collection. Nordea were thinking of Basket in terms of one or another of the kinds of financial instrument with which you can trade a basket, but they may not have understood the nature of inheritance here. More detail on constituents of baskets.


BasketConstituent is a relative thing, with hasIdentity relating to the kinds of things that may be the constituents of the Baket. The hasIdentity relation on this would have restrictions applied to define the various kinds of basket constituent (and thereby the various kinds of basket) according to the kinds of thing that can be their constituent(s).  


Next week we will go through 1 ontology, either Issuance or Listings. Every week we will go through at least one ontology. 

Action items