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2017-10-10 Meeting notes

2017-10-10 Meeting notes

Owned by Dennis Wisnosky
Last updated: Feb 27, 2018

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/FCP/issues/FCP-4?filter=allopenissues

5) Todays content discussion. 

20171010 FIBO CFTC Pilot


DW shows latest spec contents. JN asks about a DD that is specific to Interest rate swaps. Dean shows a mock up of a DD that he did earlier for demo purpose. Dean will show properties and inheritance in the final version. Dean says that we have too many lines. Need some filters to neck down to only those necessary to understand. Maybe 2 levels deep. Sort so that all of the appropriate fields are next to the relevant classes.


JN: Need to show the value of FIBO. So, the idea is to show the DD for IRS and explain that all desperate data sources can be mapped to the FIBO DD. This gives harmonization across all of the fields because we are mapping to a single source. Thus, the data can be linked to the actual triple store behind it.


Dean: What do you then mean by a DD? JN: Data Elements defined by FIBO and mapped to IRS data of CFTC. Dean: What form does JN want to see the DD in? What does it look like? JN all IRS terms defined and the FIBO name for them matched then we build a schema from this and then use the schema to do the mapping from real data sources to FIBO.


Kate: ISO 25964 shows some ways of mapping vocabularies one to another. EK: ISO 11179 is also relevant. OMG is working on a spec also. Pete Rivet is working on the meta model for this.


JN: We want FIBO to generate an IRS DD.  Jeff: ACTUS does that. Maybe the mapping of FIBO to ACTUS would be helpful here for mapping to contracts.


EK: Has done much work over the last week and this is all in the latest FIBO release. EK: walks thru this content on Protege. JN: Can we use this? EK: Absolutely! I would do this with a series of SPARQL queries across content. FIBO provides a total schema up the food chain way above swaps. JN: Yes, the power of this is that we can follow this thread to determine total exposure, not just IRS, for example.


JN: Then, how do we demonstrate this? EK: We can do this, but there may be some holes in FIBO we will need to plug. But, this is doable. Need to map queries as well as the content. Need to understand the Queries and the data. Need to get the questions from JN that he wants answered. All of the relations are in FIBO. It is the restrictions that are queried over. The only way to show the true power is to actually do all of the mapping.


EK shows the mapping in the spread sheet.


DW: We now need the real data from CFTC. Otherwise, we can't know if the mapping is correct. DW asks where is the dummy data. JN: CFTC tried to get this to the FIBO Team and could not yet agree. Oct 20th is a meeting to get 30,000 records approved. This will use the approved CFTC anonymization approach. This is strictly IRS.


DW: We need the real dummy data to see if FIBO content is adequate. Until we can do the test queries, we really can't tell the goodness or not of current FIBO. We need the real dummy data to be able to see how the 8000 FIBO classes reduce to what is necessary for the existing 88 CFTC elements.


Jeff Braswell: Data elements for Interest Rate Swaps that may be needed may be missing from the SDR extract, not from FIBO


JN: Think of this as a sales job that can focus on whatever questions the CFTC has. Asset class, options, whatever? The DD will be dynamically created from FIBO. We hope to have the answer on the 20th.  JN: Show all of FIBO, then focus on IRS. We can show much more work than just IRS.


DW: Do we need a meeting on the 17th, or wait till we have actually seen the data. We will meet on the 17th as a touch point on where we are at that time relative to getting the CFTC data and that the FIBO content between Dean and Elisa is consistent.

JN: FIBO connects everything. Data is now not connected. CFTC connects its data with FIBO. That is what we must sell.


DW asks JN to look at the FIBO Primer and provide feedback to us. Does it help to make FIBO more clear?


ACTION:  JN to provide the 30,000 anonymized IRS records to FIBO.  To report on this on the 17th of October 2017.


6) For next week.

Proceedings:

Decisions:

Action items

  • John Nowlin  provide the 30,000 anonymized IRS records to FIBO.  To report on this on the 17th of October 2017.