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II. Use Case Summary | |
Goal | There is no single publicly available model for instrument reference data for market traded instruments. FIBO should provide the core content for such a model, which is needed across the industry, including EDMC member institutions. While there are a number of proprietary models, such as those of data vendors, there is no general consensus. This use case is focused on a fictitious offering of securities instrument data to users by an exchange, to establish a constrained baseline for the overarching use case defined in SEC-01. |
Requirements | Specify the essential securities instrument information needed for core securities master data management, specifically the subset that an exchange might publish. |
Scope | In order to constrain the scope further, in this use case we will focus on (1) equities and (2) bonds. |
Priority | This is high priority in order to (1) provide a much-needed reference model for securities master data management and (2) demonstrate how to use an ontology successfully and in a cost-effective way as the basis for other work inside an institution. |
Stakeholders | Primary stakeholders include any exchange that might publish instrument related information, consumers of that information including traders, front and back office personnel as well as compliance officers at institutions whose portfolios include this informationsecurities and that need to manage information about those securities, other individual investors interested in the information, and various systems supporting all of the above. |
Description | There are a number of organizations that publish certain master data elements that we can use as the basis for coming up with a composite view, including OpenFIGI, the DTCC Security Master Data File (including intra-day), various exchanges including the NYSE and Nasdaq, and possibly CME. The purpose of the use case is to show how one might leverage data coming from multiple sources to manage security master data using FIBO. There are several JIRA issues around accomplishing this goal. SEC-74, for example, is about representing a share of stock as listed in a specific exchange. That particular issue represents a subset of what we want to do in this use case, but is a starting point. |
Actors / Interfaces | List actors: people, systems, knowledge bases, repositories, and other data resources, services, sensors, or other “things” outside the system that either act on the system (primary actors) or are acted on by the system (secondary actors). Primary actors are those that invoke the use case and benefit from the result. Identify the primary actor and briefly describe role.
Any actor that is external to or outside the control of the use case owner should be further described under Resources, belowActors include the stakeholders listed above, systems that maintain security master data including but not limited to those at the exchange, inside of an institution, or managed by regulators, and any other consumer of security master data. |
Assumptions |
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Open Issues |
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