I. Use Case Description | |
Use Case Name | Index analysis for ETF development |
Use Case Identifier | IND-01 |
Source | IND Content Team |
Point of Contact | |
Creation / Revision Date | 7/19/2019 |
Associated Documents | Requirements documentation, traceability matrix if applicable |
II. Use Case Summary | |
Goal | Enable development of a new fund whose performance can be compared to a benchmark |
Requirements | State any requirement(s)specific to this use case, including any capabilities from a business architecture or process model that the use case supports, any metrics or other reporting requirements, etc., including any reference identifier for the requirement(s), as applicable |
Scope | Coverage is limited to equity indices rather than indices that include credit indices or economic indicators for this use case. |
Priority | Identify the priority of the use case (with respect to other use cases for the project) |
Stakeholders | Identify all known stakeholders for the use case |
Description | A business analyst/front-office salesperson is interested in selecting one or more equity indices as the basis for predicting/comparing the performance of a new exchange-traded fund (ETF). This may require understanding the make-up of a benchmark based on a balance of small, medium, and large cap organizations, overall performance during some prior period, based on a mix of national and international instruments, based on avoiding being overly exposed to a single sector, company, or country, etc. in order to meet the performance goals of the fund, however the goal of this use case is for limited comparison. In other words, we will not necessarily create a number of sector classification schemes for this use case. In general, the goal is either for the fund to track the index or for its performance to exceed that of the index. This means being able to describe 10- 15 benchmarks that are commonly used, without detailed sector classification, but sufficient to distinguish one major index from another. This initial use case involves limiting the scope to equities only. We will create a subsequent use case to cover bond/debt indicies. We will only use content that is published about each of the indexes, and avoid assumptions about classification schemes (at least, in depth classification) for the purposes of this use case. Indices under consideration include:
Assumptions: The business analyst has a template for defining the contents of the fund provided by their organization that allows them to vary the index based on desired goals. |
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, below. |
Pre-conditions | Identify any assumptions about the state of the system that must be met for the trigger (below) to initiate the use case. Any assumptions about the state of other related systems can also be stated here. List all preconditions. |
Post-conditions | Provide any conditions that will be true of the state of the system after the use case has been completed. |
Triggers | Describe in detail the event or events that initiate the execution of this use case. Triggers can be external, temporal, or internal. They can be single events or a complex event that indicates that some set of conditions has been met. |
Performance Requirements | List any known performance-specific requirements – timing and sizing (volume, frequency, etc.), maintainability, reusability, other “-ilities”, etc. |
Assumptions |
|
Open Issues |
|
III. Usage Scenarios
Provide at least two usage scenarios that flesh out the requirements outlined in the summary, including identification of requirements specific to any envisioned ontology or semantically-driven service or application. Scenarios should be described as narrative, with supporting diagrams as appropriate. In an Agile process, every user story relevant to the use case should be included and elaborated/rolled up into one or more usage scenarios, with a clear mapping from the user story to the scenario it is integrated in or mapped to.
IV. Basic Flow of Events
Narrative: Often referred to as the primary scenario or course of events, the basic flow defines the process/data/work flow that would be followed if the use case were to follow its main plot from start to end. Error states or alternate states that might occur as a matter of course in fulfilling the use case should be included under Alternate Flow of Events, below. The basic flow should provide any reviewer a quick overview of how an implementation is intended to work. A summary paragraph should be included that provides such an overview (which can include lists, conversational analysis that captures stakeholder interview information, etc.), followed by more detail expressed via the table structure.
In cases where the user scenarios are sufficiently different from one another, it may be helpful to describe the flow for each scenario independently, and then merge them together in a composite flow.
Basic / Normal Flow of Events | |||
Step | Actor (Person) | Actor (System) | Description |
|
|
| |
|
|
| |
|
|
| |
V. Alternate Flow of Events
Narrative: The alternate flow defines the process/data/work flow that would be followed if the use case enters an error or alternate state from the basic flow defined, above. A summary paragraph should be included that provides an overview of each alternate flow, followed by more detail expressed via the table structure.
Alternate Flow of Events | |||
Step | Actor (Person) | Actor (System) | Description |
|
|
| |
|
|
| |
|
|
| |
VI. Use Case and Activity Diagram(s)
Provide the primary use case diagram, including actors, and a high-level activity diagram to show the flow of primary events that include/surround the use case. Subordinate diagrams that map the flow for each usage scenario should be included as appropriate
VII. Competency Questions
- What are the constituents of this index as of a given date?
- What is the value (price) of this index on a certain date? What are the prices for the constituents of this index as of this date and how are they weighted?
- What indices have a given equity as a constituent as of a given date?
Describe at least one way you expect to use the semantics and/or provenance to propose an answer to the questions. Include an initial description of why the semantics and/or provenance representation and reasoning provides an advantage over other obvious approaches to the problem. (optional – depending on the use case and need for supporting business case).
VIII. Resources
In order to support the capabilities described in this Use Case, a set of resources must be available and/or configured. These resources include the set of actors listed above, with additional detail, and any other ancillary systems, sensors, or services that are relevant to the problem/use case.
Knowledge Bases, Repositories, or other Data Sources
Data | Type | Characteristics | Description | Owner | Source | Access Policies & Usage |
(dataset or repository name) | (remote, local/in situ, etc.) | e.g. – no cloud cover | Short description of the dataset, possibly including rationale of the usage characteristics |
| Source (possibly a system, or remote site) for discovery and access |
|
|
|
|
|
|
|
|
External Ontologies, Vocabularies, or other Model Services
Resource | Language | Description | Owner | Source | Describes/Uses | Access Policies & Usage |
(ontology, vocabulary, or model name) | (ontology language and syntactic form, e.g., RDFS - N3) | If the service is one that runs a given ontology or model-based application at a given frequency, state that in addition to the basic description |
| Source (link to the registry or directly to the ontology, vocabulary, or model where that model is maintained, if available) | List of one or more data sources described by and/or used by the model |
|
|
Other Resources, Service, or Triggers (e.g., event notification services, application services, etc.)
Resource | Type | Description | Owner | Source | Access Policies & Usage |
(sensor or external service name) |
| Include a description of the resource as well as availability, if applicable | Primary owner of the service | Application or service URL; if subscription based, include subscription and any subscription owner |
|
|
|
|
|
|
|
IX. References and Bibliography
List all reference documents – policy documents, regulations, standards, de-facto standards, glossaries, dictionaries and thesauri, taxonomies, and any other reference materials considered relevant to the use case
X. Notes
There is always some piece of information that is required that has no other place to go. This is the place for that information.