2022-10-14 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:
Today we continued our work on cleaning up credit default swaps. We determined that there was significant duplication with concepts related to the so-called "fee leg", which is not really a leg. It is instead essentially a contract price, in which the buyer pays a fee based on the terms of the contract, either at once or over time. Details specific to payment schedules and so on are already specified elsewhere in FIBO for cases in which they are required, and the duplication is not necessary. Since the terms of the payment by the purchaser of the contract are less important to the concept of a credit default swap than other things, we elected to simplify by simply representing the contract price, rather than all of the properties and concepts defined around a "fee leg". This ontology has not been reviewed in many years, so it stands to reason that the related concepts may not have been available for reuse the last time this was reviewed. We will continue the work on Tuesday next week.