2020-01-24 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/IND/issues/IND-17?filter=allopenissues
5) Todays content discussion.
SMIF OWL-UML
SKOS
RDF/S
6) For next week.
Proceedings:
Today we discussed what needs to be done to create example individuals for the 5-6 companies that we will use to show constituents of an index. We already have Wells Fargo and JPMC as individuals in our ontology, and we have representation of Wells Fargo's common stock as well as its listing on the NYXE as starting points, but WF is only in the S&P 500, not in the DJIA.
We agreed to create individuals for each of the following companies and link them to the DJIA, and to the S&P 500, as appropriate: Wells Fargo, JPMC, Home Depot, Proctor & Gamble, Apple Computer, Coca Cola, and IBM. For those that are not already in FBC, we will create minimal individuals in BE for the companies, then extend the details in FBC, add the information about the equities in SEC, and then add them to the index in INC, to show how one can represent increasing amounts of information about these companies and their shares as represented in an index using the various components of FIBO.
For Pete, Elisa will show how it is important to separate the details about the role that an organization plays as an issuer from the information about the legal entity, and that combining the role with the entity would create a logical inconsistency. We have consistently separated concerns in FIBO - details about the different roles an organization plays, and even identifiers and licenses associated with those individual roles, from the details about the legal entity, as a best practice in information modeling. This normalized pattern and approach is considered a best practice in the data management community, and is essential for mapping large numbers of very large data bases that many of our member banks are doing today using FIBO. John G will also provide some examples to help explain why this is important, and we will reach out to Citi, who use this same pattern internally, to get any additional guidance they can provide to help explain the concept.