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2019-01-22 Meeting notes

2019-01-22 Meeting notes

Owned by Dennis Wisnosky
Last updated: Oct 23, 2019 by 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/DER/issues/DER-10?filter=allopenissues

5) Todays content discussion.


6) For next week.

Proceedings:

 

20180122 FIBO DER FCT

 

MA will create a spread sheet labeled IRSwaps. Much of what FIBO has is not important for the Business users.

 

Mike -- what is the distinction between financial instrument versus financial transaction that relates to legal entity ?

 

MA used Adaptive tools. Went to the unabridged to match terms. DA extracted all IRS from all of FIBO. 900 fields.

 

Jeff Braswell It sounded like you are suggesting that we don't need to include legal entities in scope if we limit ourselves to financial instruments in lieu of financial transactions

 

DN Does that include all of the EBRDF fields. MA Should be that and more. MA then created a table. This resulted in 35 concepts. Then matched these against MB OMG Blockchain diagrams. There was a good match.

 

MA then went back to the spreadsheet. Translated the spread sheet into "MA Business English" Then spoke with DA and they agreed that what MA ssid should be used to update FIBO. MA used the point of view of Financial Instruments, not Transactions. But, this has 50 terms so far. Would like to have just 15 or so. Jeff Can't avoid have the counter party in the transaction.

 

15 

 

MA Just trying to get the EBRDF people comfortable with FIBO. MA see no value in ISDA work. Jeff Need to download into other software. Use Oxygen and the complexity comes out.

 

MA Need to make sure that FIBO terms match FPML and that the upper level definitions and the element concepts are the same.

 

Jeff I do think that financial transactions aremore aligned with the business requirements than financial instruments

 

MA used an older version of the unabridged. DA confident that what he last sent to MA filtered from the unabridged does have all that is in FIBO.

 

Pete What about how this was done for Chicago training. That aligned real data to FIBO. DN EBRDF needs to illustrate the semantic mapping from FIBO to a banks metadata like in a spreadsheet.

 

Pete We could just do it. DN First do the conceptual mapping because that is the easiest for the participants to understand.

 

MA Generate the onto from FIBO. Make sure the definitions exist in FIBO and FPML. Make sure this maps to the banks metadata. Then generate the output either with the Chi data approach or the banks real data.

 

Pete Remember that CCM is up to 1 year out of date.

 

DN Protege is the best way to really understand FIBO. It shows all relationships. Easy to look at class hierarchy, restrictions, etc. MA Yes, but overwhelmed with many many things to do. DN Believes that Protege would make this work easier for MA. DN suggests Jan 25th. ACTION: DN send MA an invite for Protege training for 25 Jan. In the meantime, MA will use his approach. MA to Pete Please say what is good not good. Pete to MA Look at what was done in Chicago.

 

Pete to MA How will you be communicating to the Team. Suggests dynamic sharing. MA First need to just get SME feedback. Counting on Marla:

 

MA Should diagrams be generated. Jeff Just do the mapping in our heads for now.

 

MA What I did was not that hard. DN When set up on Protege this will be a lot easier for you.

MA to Jeff What does FPML have that we could use. Jeff has never seen FPML schema. Tony Just need to register on site and download. MA Need to make sure that ISDA people buy in to this. Tony FIBO began with FPML. The question is how have we diverged.   Jeff There is much moe in FPML, that is the reason for the Common Domain Model. Jeff Need to constrain. MA Yes and then expand.

 

Pete Is there an ISDA CDM Primer. Jeff There is a tab that describes the CDM in a narrative form. There are text and graphical views. Took about an hour to download all of it. Could use JASON. Jeff used Oxygen and showed the whole grid. Pete The best would be map this to OWL. Jeff did not try.

 

Jeff Braswell Did not take an hour to download -- it took about an hour to expand the full tree on the graphical tab

 

Tony FIBO used a tool to render the FPML XML into FIBO RDF/OWL.

 

MA For the short term this DER time slot will be used for EBRDF every 2 weeks. 

 

ACTION: MA to send out a recurring meeting for EBRDF. DN And keep DER every other week also.

Decisions:

Action items

  • Michael Atkin send out a recurring meeting for EBRDF. DN And keep DER every other week also.