2022-05-24 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:
Some thoughts on presenting to CFTC - going to commissioners and to other congress folk is the right answer. The response we get from the CFTC execs is that we are using CPMI IOSCO, ISO 20022, ESMA, etc. and don't need an ontology. The response should be that OMG and the EDM Council are also international standards bodies, and the work that we are doing leverages and extends the work that the ISO community and others are doing to provide the semantics that those standards do not provide. The US should be leading in the space, rather than following. The fact that ISO has created standards does not mean that there aren't gaps in those standards, and that they can work with the latest technologies. The OMG standards fill gaps with respect to the structure of the data and enable new kinds of analytics that that map various standards to one another. Harmonization among standards is difficult, and the work that we are doing is complementary to what other industry groups and standards bodies are doing. OMG has liaison activities with several of the ISO standards bodies, including TC 68, and the EDM Council has been working with ISDA and others to address some of these gaps and support interoperability across them. This technology allows us to bridge silos and provide better reporting in general, and again is complementary to what you can do with what you already have, and builds on that to enable machine learning and other applications that leverage the data.
What would be good to show are some of the things that we can do with a graph database, and lead with something that works that we can show rather than slideware alone. The work we are doing with Google might be something we could show.
Funding for CFTC comes through ag not through finance, so anything we can do to lobby ag to fund CFTC in this area, possibly through data coalition, rather than through finance.