2019-12-03 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/SEC/issues/SEC-7?filter=allopenissues
5) Todays content discussion.
SMIF OWL-UML
SKOS
RDF/S
6) For next week.
Proceedings:
Reviewed SEC-96 - added comments there to the effect that the properties apply to exchange traded securities including exchange traded derivatives.
Reviewed SEC-97 - most concepts could be generalized but we need the regulation-specific ones, as folks will be looking for these properties.
Definitions from Jeff:
Authorized shares have the company's management's approval but have not, yet, been issued to the trading market.
Outstanding shares include those held by shareholders and company insiders.
Floating shares indicate the number of shares available for trading.
These terms are not exchange or listing specific, they are properties of the issue.
For some of the MD information with respect to quoted pricing - every quoted price is based on the price for an exchange-traded security at some point in time on a specific exchange;
also need to include who it is quoted by as an NYSE price could be quoted by Bloomberg.
Ontologies of interest in MD, which we should move some of the concepts, include: EquityPricing, InstrumentTemporalTerms, and any that they depend on.
Definition of market capitalization from John:
Market capitalization refers to the total dollar market value of a company's outstanding shares of stock. Commonly referred to as "market cap," it is calculated by multiplying the total number of a company's outstanding shares by the current market price of one share.
Need to differentiate between total shares across all share classes, weighted according to ownership structure, vs. across a specific share class. We need to be specific when we talk about the price x shares.
See https://money.stackexchange.com/questions/55513/whats-the-most-correct-way-to-calculate-market-cap-for-multi-class-companies, for example (from Pete).
We may also need to be concerned with the type of capital, debt seniority (e.g., tier 1, tier 2) with respect to fundamental data about the company.
We also need to classify companies according to market cap, per John:
Companies are typically divided according to market capitalization: large-cap ($10 billion or more), mid-cap ($2 billion to $10 billion), and small-cap ($300 million to $2 billion).
This is an additional classification scheme for companies. Many companies are measured by market cap for a number of different purposes, such as for credit risk assessment.
SEC-107 - John will look into this and get back to us (forms of registration).