2021-08-10 Meeting notes
- Elisa Kendall
Date
Attendees
Agenda
1) Use Case reminder
2) Where we are on our road map.
3) Open Action Items
4) JIRA Issues Review - https://jira.edmcouncil.org/projects/DER/issues/DER-10?filter=allopenissues
5) Todays content discussion.
6) For next week.
Proceedings:
Discussed the open DER-104 pull request, including the need for an external units of measure ontology. It is possible that the UPI specification, which may be released later this year, will include the units needed for reporting purposes. There are a number of standards used for reporting - CPMI IOSCO, ISDA, etc. that are used for defining reports, and we should consider linking what we have to those standards, in additional to the units ontologies we might select.
Questions from the CFTC were around how we leverage other standards, such as ISO standards, among others. A recent article on harmonization in regulatory reporting is available at https://www.linkedin.com/pulse/data-harmonization-regulatory-reporting-que-phuong-dufournet-tran/, discussing critical data elements among other things.
We should go back and review where things stand with respect to ISDA and CPMI IOSCO, at a minimum. We did track originally to the FIBIM subset of ISO 20022, which mainly covers messaging, but there are subsets of it that we do cover.
A description of the work going on for the UPI is available at https://www.iso.org/obp/ui/#iso:std:iso:4914:dis:ed-1:v1:en. Another good discussion is available at https://www.clarusft.com/identifiers-identifiers-everywhere/.
We should also go back to the CDE (Critical Data Elements) effort to ensure that we cover the data elements they reference, and that we can map to the standard to state clearly which elements that we cover are considered CDE elements. Note that CDE is limited to derivatives, like the UPI, and is deep and narrow in that area. There are something like 128 CDE elements at the moment, with oversight by the ROC. ACTUS has roughly 150 elements by comparison.
For next quarter we should look at integration of (1) the UPI, (2) CDE, and possibly other standards, and make progress on our process for tracking changes to those standards in FIBO.