OMG Finance Domain Task Force (FDTF) Monthly Status/review call Wednesday November 2nd 2016

FIBO Vocabulary update Agenda News FIBO Vocabulary update OMG FDTF Quarterly Meeting Planning (Coronado) Roadmap and co-ordination FIBO Process Update FIBO Status Status of Current Specifications Status of upcoming FIBO specifications and FCT activities Other FIBO Activities

News FIGI FIRO – see next slide FIBO Vocabulary FIBO-DEBT under way Tooling and socialization of this. Biweekly meetings under way Work under way on specification alignment Also documenting the ground rules for FIBO ontologies, versus conceptual (legacy) ontologies FND RTF is now deferred to February Other FDTF Activities New co-chair confirmed (Rob Nehmer, Oakland University) DLT WG (formerly Blockchain WG) Regular calls ongoing Focus on Smart Contracts Content negotiation How to render ontologies using HTML / Web browser (weekly call slot – see Doodle poll) What you see in a browser when you enter the URI of a class or property FIGI Passed the initial step with X9 (recommendation as passed FIGI to board for Oct 17th for recommendation to ISO for ISO certification BSI already on board and others Update on X9 at next Monthly Update Call FIRO – see next slide

FIRO Update FIRO-H presented at Chicago (one module of it) Foundational; will be released under open Source license Draft documentation available Talk about this at next month’s MUD Call (30 min) No overlap FIBO-FND but complementary concepts exist Would like to consider whether this can contribute to FIBO Foundations Also consider possible overlap or complemetarity re FIBO-BE as well Any examples linking to existing regulations? Yes but Regulatory concepts – will these be in a separate vocabulary? Yes, this is an extension of this one in a separate physical file. Can I use FIRO-H to identify analogous concepts between the regs?

Unified OWL Repository FIBO VOCABULARY DEVELOPMENT PROCESS (for early adopters) FIBO Repository Alignment -FEBRUARY 2016 Structural resolution – i.e. properties with more than one sub-property, name union/anonymous union, enumerated number ranges, object and data types properties replaced with restrictions, missing definitions, restrictive explanations, classification approach Status Domain 2016 Plan Comprehensive Foundations Green () Business Entities Green (+) Substantive Indices / Indicators Securities / Equities Yellow () OTC Derivatives Loans (common) Complete Debt / Bonds Pink (FCT) Majority Collective Investment Vehicles Equity & Debt Pricing Structured Finance Pink Rights & Warrants Good Money Markets Exchange Traded Derivatives Mortgage Loans Corporate Actions Initial Transactions, trading status, credit rating & status, payments, issuance, portfolios & holdings ❶ ❸ Member Verification Process Enhancement & finalization Prioritized for BCBS 239 Managed by dedicated resource Align with FIBO, validate and generate OWL expressed as a single repository ❷ Address gaps and align with FIBO design principles Unified OWL Repository APRIL 2016 ❹ Integrate into FIBO engineering process for inference processing generate align Legend Comprehensive: modeled, EDMC tested, OMG process Substantive: modeled with SME review, to OMG Complete: needs alignment with FIBO structure, FCT Majority: modeled but not verified Good: modeled but not complete Initial: early stage SEPTEMBER 2016 build UML/ submit to ❺ VOCABULARY V1.1

FIBO Vocabulary Status Generated initial OWL from CCM Expected classification errors identified Once passed a “Classifier” test in Pellet But it turns out that did not include green Placeholders Many change in Pink FIBO create inconsistencies with existing material CCM output improvements under way Not yet at the round tripping stage for existing Pink FIBOs But close! Dean generates SKOS Based on various “Merged” sets of ontologies Will be one SKOS Vocabulary for Pink FIBO and one for FIBO-Master FIBO Master Al of FIBO including work in progress Red stuff doesn’t have a name but is included in FIBO-Master Aligning with Pink on a section by section basis EDM-Council/FIBO Foundations Content Team

Reasoning errors being addressed CCM OWL Status: Reasoning errors being addressed Started alignment with Pink content (foundations) Pink now in the CCM model and output to Collaborator (definitions missing) Validate as we go Agreed to put non-consistent OWL in GitHub Currently in a “Red Test” branch or fork

Alignment: Red v Pink/Yellow/Green Conceptual material (MB) EDMC-FIBO Upper Ontology ext/snap etc. etc etc SysML (QUDT) Social Constructs DEBT REA Transactions LOAN Commitments Quantities IND Information UnitsAndMeasures FBC MeasurementTypes MonetaryMeasures FND BE EDM-Council/FIBO Foundations Content Team

FIBO Flavors Relationships FIBO Vocabulary (SKOS/RDF-S) Feedback Feedback Detailed FIBO Documents generated FIBO Core UML-SIMF / ODM Diagrams) FIBO Core OWL Ontologies generated aligned FIBO.Schema.org generated Feedback Natural Language Glossaries Feedback

FIBO Publication requirements At OMG site At spec.edmcouncil.org Requirement: Be able to return a vocabulary entry for the URI (DF) What does the B want to see Whether it comes from OWL or SKOS is not relevant. But the level of detail needed is closer to what would be in SKOS Identify close matches etc. per SKOS as well is useful Critical: Definition Synonyms Origin metadata is also helpful Domain and range of property Choices: Diagrams Hyperlinks for domain and range of property etc. or not? PR has some good ideas for this Need to figure this out – separate calls? Set this up now – PR to organize this via this list and FIBO Vendor Team

OMG Quarterly Meeting Dec 2016 (Coronado CA) FIBO Nothing scheduled for FIBO LOANS? And common debt concepts Securities? Overall - common material; early adopter FIBO-V stuff Roadmap FIRO To be confirmed Risk RFPs Inputs to cashflow generator Inputs to risk management calculations Disposition (one RFP or several) Next step identified in Chicago was roadmap of existing stuff and where the new value add will be Standards Roadmap and overlaps Per Chicago action See also Cory’s stuff RFP for risk management tool interchange BMI (Nick Musurov) ACTUS FIBO FIRO Anything from PRMIA? The rest Blockchain / DLT Detailed update from the DLT WG Workshop Testing the spec and our understanding FIBO and DLT components – Treasuries? Other Presentations?

Tuesday Morning Afternoon FIBO Stuff – FIRO stuff updates on Loans, common debt concepts ; foundations / FND v FBC Next steps /preview of what’s happening with consolidated FIBO specification Afternoon FIRO stuff Quarter day on Roadmap DLT (Blockchain)

Wednesday Morning Afternoon New Risk relate RFPs / presentation etc. Workshop DLT PoC FIBO Content

FTF and RTF Charters (Friday Plenary) Foundations 1.2 RTF chartered March, due to report in Dec Motion to defer to March Business Entities 1.2 RTF chartered Sept Indices and Indicators 1.1 RTF chartered in Sept Financial Business and Commerce New RTF 1.1 chartered in September

FIGI Status See New section

{ Roadmap 2013 2014 2015 2016 FIBO Content Teams Key IND FTF2 Non OMG PoC Refactoring/ testing Public review OMG finalization Key OMG Spec Legacy 2013 2014 2015 2016 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Foundations Public review FIBO-FND OMG finalization TF (FTF) FTF2 FIBO-FND OMG Revision TF (RTF) also for FBC RTF2 For Loans, Sec, Der ??? FIBO-FND vn Final 1,1 Beta1 Beta2 FTF2 Legal Persons, LEI Entities; Ownership and Control FIBO-BE Public review FIBO-BE OMG finalization TF (FTF) FIBO-BE RTF RFC Final 1,1 Beta2 FIBO-BE v2: Government, Jurisdiction FIBO-BE2 FTF RFC Final Indices & Indicators Public review OMG FTF Indices & Indicators FTF2 Incorporate concepts in FBC IND FTF2 RFC Beta1 Beta2 Final { Financial Business and Commerce RFC Final FIBO Content Teams Securities and Equities RFC Final Loans Common Dry Run RFC Final Derivatives PoC IR Swaps Derivatives By Contract type; by underlying asset type RFC SKOS Other FIBO Components FIBO Market Data, CAE, Risk/Reporting FIBO Market Data, CAE, Risk/Reporting 16 FIBO schema.org FIBO Market Data, CAE, Risk/Reporting

Co-ordination between specs Timings / Roadmaps between specs FIBO-V Current Activities Co-ordination between specs Timings / Roadmaps between specs FIBO-V Process under way, under Wes Moore and Elie Abi-Lahoud Now under way with Debt under Marc Alvarez

OMG Spec Co-ordination and Timings Per process, there is a focus now on co-ordination of requirements and dependencies across FIBO specifications https://wiki.edmcouncil.org/display/FND/FIBO+Content+Team+Requirements+for+Foundations BE, FBC, government entities and anti-corruption Real-world circularities e.g. shares v limited companies

FCTs working on detailed “Roadmaps” Co-ordination FCTs working on detailed “Roadmaps” Align with the overall roadmap Identify cross dependencies Requirements for FND, FBC, BE extensions Use of Wiki See Loans page for Foundations requirements Common Debt Terms Informal coordination under way Identify concepts common to all or a super-set of debt Pre-requisite to publishing Loans

How do we get from here to there? What does FDTF need to do on this Co-ordination FUTURE One FIBO Specification Reflects all of Pink / Yellow at a chosen point in time Updated quarterly How do we get from here to there? What does FDTF need to do on this And when?

FIBO Current Specifications Status Overview FIBO Foundations Final version approved by OMG March 2015 Revised 1.1, approved March 2016 RTF for 1.2 deferred to March 2017 FIBO Business Entities RTF 1.2 chartered Sept FIBO Indices and Indicators FTF approved September 2016 RTF 1.0 chartered Sept 2016 FIBO FBC

FIBO: Scope and Content Upper Ontology FIBO Foundations: High level abstractions FIBO Business Entities FIBO Financial Business and Commerce FIBO Indices and Indicators FIBO Contract Ontologies Securities (Common, Equities) Securities (Debt) Derivatives Loans, Mortgage Loans Funds Rights and Warrants FIBO Pricing and Analytics (time-sensitive concepts) Pricing, Yields, Analytics per instrument class FIBO Process Corporate Actions, Securities Issuance and Securitization Future FIBO: Portfolios, Positions etc. Concepts relating to individual institutions, reporting requirements etc.

FIBO: Status Key Upper Ontology Draft in CCM/FIBO-V OMG in process FIBO: Status In preparation OMG Complete Upper Ontology FIBO Foundations: High level abstractions FIBO Business Entities FIBO Financial Business and Commerce FIBO Indices and Indicators FIBO Contract Ontologies Securities (Common, Equities) Securities (Debt) Derivatives Loans, Mortgage Loans Funds Rights and Warrants Also viewable in Adaptive – see link on next slide FIBO Pricing and Analytics (time-sensitive concepts) Pricing, Yields, Analytics per instrument class FIBO Process Corporate Actions, Securities Issuance and Securitization Future FIBO: Portfolios, Positions etc. Concepts relating to individual institutions, reporting requirements etc.

FIBO Where is What! General Information - http://www.edmcouncil.org/financialbusiness Historical perspective and status 29 FIBO Business Conceptual Ontologies have been built since 2008 http://www.edmcouncil.org/semanticsrepository/index.html Contains much detailed downloadable information including models, spreadsheets and XLS files for 29 FIBOs Github Working Wiki page” https://github.com/edmcouncil/fibo/wiki For those who want to get serious soon – Links to UML and RDF/OWL downloadable files for all 29 FIBOs and much much more of Pink and Yellow and Green FIBOs Browseable and searchable repository with workspaces for all ontologies http://us.adaptive.com/FIBO/a3/ http://www.omg.org/spec/EDMC-FIBO/FND/Current Contains FIBO-FND in final OMG documentation form including UML and RDF/OWL models for FIBO Foundations Github wiki is at: https://github.com/edmcouncil/fibo/wiki/FIBO-Foundations http://www.omg.org/spec/EDMC-FIBO/BE/Current Contains FIBO-BE (Business Entities) In OMG documentation form. Github wiki is at https://github.com/edmcouncil/fibo/wiki/FIBO-Business-Entities A working version in testing (“David’s Branch”) is at https://github.com/dsnewman/fibo/tree/pink/be http://www.omg.org/spec/EDMC-FIBO/IND/Current Contains FIBO-IND (Indices and Indicators) In OMG documentation form https://github.com/edmcouncil/fibo/wiki/FIBO-Indices-and-Indicators . Pointer to Loans FIBO Github Wiki page https://github.com/edmcouncil/fibo/wiki/FIBO-Loans Pointer to Securities and Equities FIBO Github wiki page https://github.com/edmcouncil/fibo/wiki/FIBO-Securities-and-Equities

FIBO Atlassian Wiki Spaces FIBO Overall https://wiki.edmcouncil.org/display/FIBO/FIBO FIBO Content Teams Foundations https://wiki.edmcouncil.org/display/FND/FCT-FND Business Entities https://wiki.edmcouncil.org/display/BE/FIBO+-+FCT+-+Business+Entities Indices and Indicators https://wiki.edmcouncil.org/display/IND/FCT-IND Financial Business and Commerce https://wiki.edmcouncil.org/pages/viewpage.action?pageId=786677 Loans https://wiki.edmcouncil.org/display/LOAN/FCT-LOAN Securities and Equities https://wiki.edmcouncil.org/pages/viewpage.action?pageId=786661 Derivatives https://wiki.edmcouncil.org/display/DER/FCT-DER Vendor Team https://wiki.edmcouncil.org/display/FVT/FIBO+-+Vendor+Team

Core Extensions submitted FIBO Specific parts under way schema.org Status Core Extensions submitted Approved FIBO Specific parts under way See FIBO Wiki structure Wiki group management as per FCTs (see other notes)

Appendices: Background Slides I Jargon Blaster II FIBO Infrastructure III Red FIBO IV FIBO Content and Status (“scenario” slides)

Appendix I: Jargon Blaster ISO 10962 Classification of Financial Instruments (CFI) New version released in Jan 2015 ISO 20022 Messaging standard, UML to XML transformation incorporated the draft ISO 19312 (WG11) WG11 model was starting point for most FIBO ISO 11179 = Metadata Repositories XBRL = eXtensible Business Reposrting Language Concepts are in individual “Taxonomies” (model schemas) only (IASB, IFRS, US-GAAP, etc.) MDDL – Market Data Definition Language

Appendix II: FIBO Infrastructure The “Holy Trinity” GitHub JIRA Jenkins Wiki Each FCT and other teams have Wiki area (“Space”) Minutes, actions etc. posted there How-to Guide will be posted to Wiki also Wiki to JIRA Bridge: meeting actions identified in Wikis are also now reflected as JIRA issues Need for some instruction in this for FCT Leads

Detailed screenshots for each part of the process How-To Guide Shows overall process to follow in using GitHub and Atlassian Sourcetree, for FCT Leads Detailed screenshots for each part of the process New section on definitions added Additional definitions added This is the version that is posted on the Wiki New section on aligning local and remote branches with EDM Council Master

Otherwise, you will have received an invitation from JIRA directly Engagement Model Groups Each Team is configured as a “Group” in JIRA This group is then also used for participation in Wiki “spaces” If you registered for GitHub access, you GitHub ID also becomes your JIRA ID Group leads will then add you to their team group Otherwise, you will have received an invitation from JIRA directly You may want to retrospectively ask to be added to GitHub Some people are having difficulty accessing the Wiki – there is a synch to be run periodically

Process Progress FCT Process (to be followed by FCT Leads) Standard template / slides used by all FCT leads Minutes posted to Wiki Dennis is doing this fro MB notes; FCT leads should take on responsibility for note-taking and publishing FIBO Proof of Concept Teams May use any FIBO color as appropriate Run on same process as FCTs (wiki etc.). FIBO Vendor Team Initially focused on tool support for specification activities Will also extend to potential test assistance, PoCs etc. Build / Test / Deploy / Maintain document This is the definitive reference for all process (see Fig 4 of that) GitHub / Process User Guide updated Will extend to overall process over time

Each FIBO Content Team has FIBO Content Teams Each FIBO Content Team has A GitHub fork on the FCT Leader GitHub account A working wiki on the main (EDM Council) GitHub account Regular meetings

Questions?