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Consumers of FDTF standards

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Presentation on theme: "Consumers of FDTF standards"— Presentation transcript:

1 Consumers of FDTF standards
OMG Finance Domain Task Force (FDTF): Standards, Applications and Consumers Consumers of FDTF standards Business SMEs Risk, Finance, Legal, Front/Middle/Back-Office Government/Regulators OFR, SEC, CFTC, other Agencies Architects, Modelers, Data Mgmt staff, developers Software Vendors/SIs/Consultants Industry Analysts, Academics, NPOs Sample Business Usage/Applications of FDTF Standards ‘Business Value Metrics’ for Business Critical Elements (Risk Modeling, Regulatory Capital…) Trade Transaction Traceability (Trade Settlement Fails Analysis) Impact analysis of: Corporate Actions, Event based Costing, other Complex Events… Regulatory Reporting Dodd-Frank, Volcker Rule, Basel II/ III Analysis, Simulation of Counterparty Credit Risk, Systemic Risk… Financial Industry Business Natural Language/Speech Communities (English, other languages) (Human and machine readable Terminology for: Reference Data (Instruments, Legal Entities, Pricing…), Corporate Actions, Trade Transactions, Accounting…) FDTF Standards (current and future) Financial Industry Business Ontology (FIBO) Business Entity Hierarchy Financial Instruments Taxonomy Corporate Actions Identifier Taxonomy Date/time concepts Loans… Business Terminology for Front, Middle, Back Office (based on FIX Protocol, FPML) Business Terminology and Semantic Model for Payments Interoperability Maps for messaging standards (for Financial Services and Insurance) Business Terminology & Semantic Model for US GAAP (XBRL) Business Critical Elements (BCEs) for Counterparty Credit Risk Business Terminology and Semantic Model for Property and Casualty Insurance Data Matrix for Dodd-Frank, Volcker Rule, Basel III Business Services (SOA) Terminology and model for Financial Services Trade Transaction Traceability Map OMG Modeling Languages used in FDTF standards (current and future) Agent Metamodel Business Value, Decision, Software Quality Metrics Metamodels BPMN CORBA CWM DDS Event Metamodel ODM SBVR MDMI SysML IMM XMI MRC Records Mgmt SoaML MDA UML

2 FDTF Ecosystem of Partnerships/Relationships
Standards, Initiatives Non-OMG Groups OMG Groups OMG Standards ISO20022 ISO15022 ISO17442 ISO1087 FIBIM Core MDA standards (MOF, UML, XMI) Information Modeling Metamodel (IMM) Agent Metamodel Event Metamodel Analysis & Design Task Force International Standards Organization (ISO) Business Modeling & Integration Data Maturity Model FIBO Value Delivery Metamodel Business Decision Modeling Semantics of Business Vocabulary & Rules Enterprise Data Management Council OMG FDTF Ontology PSIG FIX Protocol Messages FPML Messages FIX Financial Products Markup Language Ontology Definition Metamodel Date/time Ontology... Data Distribution PSIG Data Distribution Service (DDS) XBRL Taxonomy, Models US GAAP XBRL Cloud Standards WG Cloud Modeling Standards Service (SOA) Taxonomy for financial services Banking Industry Architecture Network (BIAN) FDTF standards FDTF-Partner Standards Knowledge Discovery Metamodel (legacy system modernization) Architecture Driven Modernization PTF Mortgage Identifier MDDL MDMI Maps POC ACORD Messages/ Interoperability Maps MISMO MDDL SWIFT ACORD Government Task Force Record Management Standards Requirements for Systemic Risk Analysis OTC Derivatives POC Metrics for cost of regulations CFTC, OFR, SEC, Treasury, White House OSTP

3 Acronyms ACORD – Association for Cooperative Operations Research and Development  CFTC – U.S. Commodity Futures Trading Commission DDS – Data Distribution Service DTF – Domain Task Force FIBIM – Financial Instrument Business Information Model FIBO – Financial Industry Business Ontology IMM – Data Definition Language MDMI – Model Driven Message Interoperability MISMO – Mortgage Industry Standards Maintenance Organization MOF – MetaObject Facility MRC – Management of regulatory Compliance NPO – Not for Profit Organization ODM – Ontology Definition Metamodel OFR – Office of Financial Research (US Treasury) OSTP – Office of Science and Technology Policy –White House PSIG – Platform Special Interest Group PTF –Platform Technology Group SBVR – Semantics of Business Vocabulary and Rules SEC – Security and Exchange Commission SI – Systems Integrator SoaML – SOA Modeling Language UML – Unified Modeling language US GAAP – Generally Accepted Accounting Principles


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