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2017-02-07 Meeting notes

2017-02-07 Meeting notes

Owned by Dennis Wisnosky
Last updated: Jun 14, 2017

Date

Attendees



Agenda:


Proceedings:  

20170208 FIBO CFTC PoC

 

JN: Reminds us that the SDR data is not always good. Must not take literally in every case. 

 

DN: Where FIBO contains content from other standards such as ISDA, FPML, etc., they will be removed.

 

JN will get anonymized data for fields that SS used for EDMC use and real data for CFTC use. 

 

DN: what volume of data will CFTC have. JN: 5912 rows of data across 10 columns. This is 10 fields. Robert S did this on his home computer with ANZO.  He did interest rate swaps.

 

DN: When JN provides the list and data, we will immediately use it with FIBO. JN: We are close to being able to provide this. In the meantime, DN will tell JN what fields SS used and JN will send matching anonymized data and run the same with real data inside CFTC. 

 

DN will get list from either SS or Cambridge and do this work with the data. 

 

JN: Phase II could bring in D&B data or LEI data. Simon has been working LEI data to find ultimate parent relations.  DN: Phase I is validation and classification. Phase II adds counterparty data to analyze risk such as ownership and control.  DN: Will later need to get D&B on the call if ok with JN? JN believes they would use their internal LEI data base, not D&B. JN will verify this.

 

DN will send JN the notes from this meeting.

 

Jeff B: for a phase III could we put in data to analyze cash flow? DN: possible, up to CFTC. JB: Maybe it would just be small number of elements and would have big payoff. DN: Tell us what you think is needed. 

 

JN: I have ok to begin to share some Use Case info with EDMC. But, there is some sensitivity. A concern is FIX relationship, for example.

 

Jeff: Organizations such as ISDA claim that some data element names are proprietary. DN: Need to avoid those kind of conflicts.  Jeff: ISO20022 repo is now XML. But there is an experiment to used RDF/OWL. DN: Sounds redundant with FIBO. Are they doing JASON or JASON-LD? Jeff: Nothing yet, just talking. 

 

DN shows his slide that represents an IR Swap payload in FIBO/JASON-LD. Jeff likes this.  DN: If ISO 20022 wants an ontology, they would need to either use FIBO or build the exact same thing. Does not sound like a good idea. Jeff: Agree, but focus of ISO 20022 is focused on messages, not the content. They are not the same, but there should be some middle ground for sharing. DN: We should be talking to the ISO 20022 people doing this. DN: Which JASON are they using? Jeff: Looking at both.  DN: We would like to give the appropriate ISO 20022 a FIBO briefing. 

 

DN to Wes: Have we made progress. Wes: No! When 

Decisions:

Where FIBO contains content from other standards such as ISDA, FPML, etc., they will be removed.

Action items