Date

26 Feb 2019

Attendees

Agenda

1) News / Housekeeping

2) Status of Recent Work

Contracts hierarchy and abstractions

3) Arrangements / Ratings

4) Housekeeping

Wiki Open Actions Review
FCT Changes / ‘Use Case’ review

5) JIRAs Review / status

New Jiras and triage
FND-233 Party in Role ID Proposals

6) FND Roadmap for Q1 Release
7) AoB

Proceedings:

Updates

Alignment of CCM and Al Fresco to FIBO 2.0

- Incompatibility between FIBOMaster (CCM) at CCM 19.0, and AlFresco arrangements

Contract Updates / Status

Cory raised two new JIRAs for FBC related to "Commitment" vs "contract" - passed along to EK

Review of Ratings OWL from FND perspective

PR view of Ratings

Rating withdrawn or initiated is a process issue. Don't create new concepts. These are individuals (part of a rating lifecycle) - not sub-classes of ratings statement

There is a lifecycle ontology within FND - these should provide the building block for the ratings goal

Question raised - why do you refer to "rating score" as a classifier (not clear by FND)?

Question - does this diagram only relate to credit rating (measure of probability of default)?

Does the "concept of rating" exist in FND. If this only relates to credit rating it belongs in FBC. MB to raise this at the FLT

PR - "rated entity" doesn't make sense as a class (as modeled this would be some kind of “relative thing”; better just to have “Thing”).

Entities are not the only thing rated. Securities are rated and have more concepts (i.e. guarantee)

Formal statement - belongs in FND (a type of informational concept). Look in provisional "Documentation" ontology – it is there.

"Assessed by" is not the same as "attest to" - check these

Relationship between "rating performer" is not used by a "rating agency" (check the meaning of "used by" in FIBO to make sure this is the right concept)

"has Date of issuance" is used incorrectly (wrong property) - check the "date/time" ontology. Date has two meaning (when published and period covered).

Meeting Notes Document

Supplementary notes (post meeting follow-ups)

Link to Ratings ontology and definitions:

https://wiki.edmcouncil.org/display/FIB/Rating+Concepts+and+Model

Note: The class 'Formal Statement' is in fact the one defined in InformationExt/Documentation, or at least the definition is identical.

Note also that the definition for the class Numeric Rating Score explicitly refers to a numeric scale.

MB: We should distinguish scalar values from classifiers. Some of the other terms that use 'scale' in their names seem to be talking either about classifiers (e.g. Rating Scale as a sub class of Classification Scheme), or about things that at this level may either be classifiers or scales. We should not conflate classifiers with scalars in general, one is continuous the other is discrete, by definition. To say otherwise I submit is to devalue the meaning of Classifier to the point where it no longer means anything.

Decisions:

Action items

Mike Bennett Contact NoMagic about compatibilities between TWC FIBO-Master (CCM 19.0) and Al Fresco versions

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