The main agenda item this week is the temporality discussion continued from yesterday's FIBO Leadership Team call.
2) Open actions / housekeeping etc.
3) Temporality Discussion
4) Jira Status
5) FND Roadmap for Q1.5 Release
Most of today's notes are reflected in the slides.
Chat Log Notes
Bobbin Teegarden Where do you get Robert's paper?
Robert Trypuz I'll send you
Dave McComb Gotta go
Bobbin Teegarden Can we get a similar look at what Elisa is proposing?
Other Notes in Session
The broad question is whether FIBO ontologies are intended to be atemporal, or are to include some aspect of temporality within the ontology content.
Temporality is not the same as time. We have a great model of FinancialDates that is already optimized for OWL reasoning application capabilities. The separate issue for temporality is how (or whether) to deal with information relating to the changes of things against time – for example, past time series data versus real time values, future predictions (e.g. debt analytics) and so on. These were kept in separate namespaces during development so that we could address this question before bringing them forward for publication.
Slide 17: IR Swaps Exploration for OMG FDTF Blockchain PoC
MB -> EK: Considering the concepts for interest accrual, netting and payment. Was it the intention that these terms were intended to be used both for forward-looking descriptions of the terms of the contract, and for retrospective reporting in e.g. SDRs?
EK: These were intended to be used for both / any purposes.
That is, these concepts in the model are intended to be viewed atemporally. Temporality becomes a matter for the application.
MB: It may be that in this case there is too much conceptual / upper matter. Will check.
Given the finding that the existing FIBO material is intended to be regarded as being atemporal, the question then becomes one of whether for certain subject matter, this is adequate for what FIBO is intended to be used for. Specifically:
- Loans (loans phase and status)
- Derivatives – most of the information that SMEs have told us they need is highly temporal this has been segregated from the rest for now (as explained above) but according to industry people, these models aren’t usable without temporal stuff. Includes greeks etc.
Here are the slides: