2018-01-09 Meeting notes
- Dennis Wisnosky
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.
SMIF OWL-UML
SKOS
RDF/S
6) For next week.
Proceedings:
DN: We are working on the same logic for a Graph that is being used for the spreadsheet. This will generate a graph that anyone can use. This will present the operational data elements to end users to the very finest levels of data so that FIBO could be used for processing real data.
JN: To get buy in from CFTC we need what DN has shown in Gruff. Need to get to yes with CFTC office of general council to release the data. JN writing up a SoW for moving forward. Need to hire people with the knowledge base like who is on the phone. Should there be an MOU or a Contract with EDMC. DN: B 4 this discussion, let's be sure that we understand the requirements.
DN to EK How much further are we in data modeling? EK some progress in a new spreadsheet. Needs to be further reviewed with GLIEF. DN is mostly concerned with IRS. EK got most of those. Now working on gaps around LEI and relationship between product and the instrument. DN what about the relationships between FF Cross Currency and Fixed Float Cross Currency? EK shows Protege with Float Float and other content. DN is happy with this. All committed into GitHub. Have labels, need definitions also. All off Elisa new content is in the 24th Dec FIBO Pub. Only the rate based seems to not be in.
ACTION: EK to work on rate based and the linkage between product and contract.
Relationship between structured product and managed product is next. Working with State Street is offering resources to help with this.
DN shows current graph. This will show of the elements and groups of elements necessary to define swaps. Can click on the boxes and see exactly the associated elements. Financial Instrument Identifiers shows association with one Identification scheme. Some of what is needed is not yet in FIBO. DA In FIBO we have identifier from Swap that points to 2 things. But, this may confuse the graph. Could replace a FIBO property path with a single property. DN if we have a property path that is a chain of properties we have multiple edges in the graph. This is challenging. Perhaps we should filter some restrictions that are inherited. DN looking at SWAP contract because it is very complex. Could eliminate some higher level restrictions. DA this is now done in the Spreadsheet. Need to do it also in the graph. Perhaps not as challenging as DN thinks. Using the OWL notation for property path, the annotation file could describe a property chain and contains the words that it is operational.
Pete The property path hasDunns is more complicated than that, as an example that this is more complicated than DA thinks.
DN The Financial Instrument Identifier in the graph is reified to make sense. This is an impedance mismatch with a relational database. Is this bad? What if we stereotype that it is a reification? Should re reduce the reification?
EK There are some things in FIGI that will clear up some of this complexity. There is an Instrument identifier class. There are various kinds of financial instrument identifiers that can't be ignored. Pete We could use sub properties with restrictions. Model without a class for the identifier itself.
ACTION: DA and DN schedule some working time this week.
DN Shows an independent party. There are some important omissions. Independent parties do not have gender, but persons have gender, for example. DA where is this issue in FIBO or in the graph. DN The issue is that we do not have the logic in FIBO. Need to generate a relation that makes this clear explicitly or by inference.
DN need to do some QA in these areas.
Decisions: