1. OMG Mailing List
  2. FIBO Business Entities 1.1 Revision Task Force

All Issues

  • All Issues
  • Name: fibo-be-rtf
  • Issues Count: 59

Issues Summary

Key Issue Reported Fixed Disposition Status
FIBOFBC11-23 New kinds of accounts are needed for retail banking purposes EDMC-FIBO/FBC 1.0 open
FIBOFBC11-21 AccountingTransactionEvent is overly long and redundantly named EDMC-FIBO/FBC 1.0 open
FIBOFBC11-18 The definition of account is overly constrained EDMC-FIBO/FBC 1.0 open
FIBOFBC11-19 Augment all FBC ontologies with rdfs:isDefinedBy for every first class element in every ontology EDMC-FIBO/FBC 1.0 open
FIBOFBC11-1 Package inconsistencies: Opening the root ontology file, AboutFBC-1.0.rdf result in several import errors. EDMC-FIBO/FBC 1.0 open
FIBOFND12-7 Revise and refactor ContractTermsSet and its relationship to Contract EDMC-FIBO/FND 1.1 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-8 Not all transferable contracts are unilateral EDMC-FIBO/FND 1.1 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-9 Move StructuredCollection from IND to FND EDMC-FIBO/FND 1.1b2 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-10 Several FND about files have incorrect prefixes EDMC-FIBO/FND 1.1 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-4 comprises needs an explanatory note and inverse property EDMC-FIBO/FND 1.1b2 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-5 Schedule in FND/DatesAndTimes should be a child of Collection EDMC-FIBO/FND 1.1b2 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-3 The domain of the "uses" and range of "isUsedBy", added in FND 1.1, cause reasoning errors EDMC-FIBO/FND 1.1b2 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-6 Several additional concepts are needed in the Business Dates ontology to support specific schedule definitions EDMC-FIBO/FND 1.1 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-2 Definition of property 'provides' implies a specific audience EDMC-FIBO/FND 1.1b2 EDMC-FIBO/FND 1.2 Resolved closed
FIBOFND12-1 Inability to import UML-XMI files into generic UML EDMC-FIBO/FND 1.0b1 EDMC-FIBO/FND 1.2 Deferred closed
FIBOFBC11-14 Need the generic concept of a legal agent from a financial services perspective EDMC-FIBO/FBC 1.0 open
FIBOFBC11-16 Integrate concepts related to instrument settlement into FBC EDMC-FIBO/FBC 1.0 open
FIBOFBC11-8 The parent property for hasPrincipalExecutiveOfficeAddress is too general EDMC-FIBO/FBC 1.0 open
FIBOFBC11-12 The concept of a lifecycle and lifecycle event is urgently needed for securities and derivatives EDMC-FIBO/FBC 1.0 open
FIBOFBC11-10 Revise the "about file" for the FBC Products and Services module to include "FBC" in its name and IRIs EDMC-FIBO/FBC 1.0 open
FIBOFBC11-4 The definition of DebtInstrument is too constraining EDMC-FIBO/FBC 1.0 open
FIBOFBC11-2 The definition of DerivativeInstrument is stated in terms of owners and should be in terms of holders of the instrument EDMC-FIBO/FBC 1.0 open
FIBOFBC11-6 Change the parent of StandardizedTermsSet due to a change to FND in the 1.2 RTF EDMC-FIBO/FBC 1.0 open
FIBOBE11-12 Need individuals representing the various government entities for the US, Canada, EU, and UK EDMC-FIBO/BE 1.0 EDMC-FIBO/BE 1.1 Resolved closed
FIBOBE11-2 CharteredLegalPerson and StatutoryBody should not be children of JuridicalPerson EDMC-FIBO/BE 1.0b2 EDMC-FIBO/BE 1.1 Resolved closed
FIBOBE11-13 Individuals representing specific government entities are required to support BE, FBC, and IND EDMC-FIBO/BE 1.0 EDMC-FIBO/BE 1.1 Duplicate or Merged closed
FIBOBE11-3 The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs EDMC-FIBO/BE 1.0b2 EDMC-FIBO/BE 1.1 Deferred closed
FIBOBE11-1 Need better modeling of legal forms EDMC-FIBO/BE 1.0b1 EDMC-FIBO/BE 1.1 Deferred closed
FIBOBE11-4 The current definition of LegalEntity should really be LEICapableEntity EDMC-FIBO/BE 1.0b2 EDMC-FIBO/BE 1.1 Deferred closed
FIBOBE11-6 Definitions for government entities are urgently required to support FBC, IND, and new FIBO RFCs anticipated in areas including loans and securities EDMC-FIBO/BE 1.0 EDMC-FIBO/BE 1.1 Resolved closed
FIBOBE11-5 Sole Proprietorship is defined twice -- once in the Sole Proprietorships ontology (new) and once in the Functional Entities ontology EDMC-FIBO/BE 1.0 EDMC-FIBO/BE 1.1 Resolved closed
FIBOBE11-7 Definition of tribal government entities is needed to support anit-money laundering (AML) requirements EDMC-FIBO/BE 1.0 EDMC-FIBO/BE 1.1 Resolved closed
FIBOBE12-3 The current definition of LegalEntity should really be LEICapableEntity EDMC-FIBO/BE 1.0b2 open
FIBOBE12-2 The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs EDMC-FIBO/BE 1.0b2 open
FIBOBE12-1 Need better modeling of legal forms EDMC-FIBO/BE 1.0b1 open
FIBOFND11-58 Replace renamed MoneyAmount concept with a deprecated concept EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-56 Revise the two products and services ontologies to reflect the name change made to MoneyAmount EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-46 Revise the about files for FND to include the new ontologies added by FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-45 Section 8.1 limits usage of ODM constructs EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-44 Resolve issues with Monetary Amount and Amount of Money EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-43 Introduce the concept of Litigation Capacity into the LegalCapacity ontology EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-42 Incorporate the description of the new table notation and revise table structure for those that have not been revised in other issue resolutions EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-41 Update the Conformance section in line with changes in FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-40 Update UML References to Version 2.5 EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-29 Missing a generic "hasAddress" property in the Addresses ontology EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-27 The Agreements ontology does not match the FND 1.0 Specification for the definition of Agreement EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-4 Correct errors, including section references, in the conformance section of the specification EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-62 Then change in which PostalAddress was renamed to PhysicalAddress is not backwardly compatible EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-3 Several properties involving dates require revision to leverage the FinancialDates ontology EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-2 The definition of isDomiciledIn is inadequate EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-20 A definition for rate is missing from FND/Utilities/Analytics, required to represent interest rate, payment rate, and market rate EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-18 The currency code for the New Israeli Sheqel is misspelled in the ISO4217-CurrencyCodes ontology EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-16 Revise Sections 8.1 and 8.2 of the Specification with additional changes made by FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-14 Revise the Legal Capacity Ontology as required by FIBO FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-12 Add a new Products and Services Module to FND as required by FIBO FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-10 Revise the Currency Amount Ontology and add ISO Currency Codes as required by FIBO FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-8 Add a new Quantities and Units Ontology to FND as required by FIBO FBC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-6 Add a new Classification Schemes ontology to FND as required by the FBC RFC EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-1 Inability to import UML-XMI files into generic UML EDMC-FIBO/FND 1.0b1 EDMC-FIBO/FND 1.1 Deferred closed

Issues Descriptions

New kinds of accounts are needed for retail banking purposes

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    A number of new account types have been identified by the banking community as needed for retail banking. These account types also correspond to accounts in schema.org, which the banks want to map FIBO to.

    Specific requests for this have been made by Wells Fargo, as well as by several vendors interested in aligning FIBO with schema.org.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 8 Aug 2017 22:38 GMT
  • Updated: Tue, 8 Aug 2017 22:38 GMT

AccountingTransactionEvent is overly long and redundantly named

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The concept is really that of an AccountingTransaction, and per request from the OFR (US Treasury Department) should be renamed to AccountingTransaction.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 8 Aug 2017 21:46 GMT
  • Updated: Tue, 8 Aug 2017 22:27 GMT

The definition of account is overly constrained

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The current definition of account does not allow for custodial or nominee accounts. It also overly constrains the definition of the parties related to the account, and does not provide for the notion that an account may owned by the account holder.

    The definition should be sufficiently general to cover ledger accounts as well as accounts owned by customers, nominee accounts, custodial accounts for minor children, and so forth.

  • Reported: EDMC-FIBO/FBC 1.0 — Mon, 7 Aug 2017 21:27 GMT
  • Updated: Tue, 8 Aug 2017 21:28 GMT

Augment all FBC ontologies with rdfs:isDefinedBy for every first class element in every ontology

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    This change was requested by repository vendors who are using FIBO for various purposes, wherein a "follow your nose" approach to understanding the relationship between an entity and the ontology in which is is defined requires URI parsing and is cumbersome.

    This change impacts the machine readable ontologies only; diagrams and the specification document are not impacted by this.

  • Reported: EDMC-FIBO/FBC 1.0 — Mon, 7 Aug 2017 22:06 GMT
  • Updated: Mon, 7 Aug 2017 22:06 GMT

Package inconsistencies: Opening the root ontology file, AboutFBC-1.0.rdf result in several import errors.


Revise and refactor ContractTermsSet and its relationship to Contract

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    As noted by several FCTs, the current Contract Terms Set concept does not adequately capture the semantics of contract terms, and is also named misleadingly.

    This was originally modeled as a grouping of terms, which are terms of the contract, according to some common theme such as interest payment or call terms. The current OWL logic does not reflect that these are a common grouping of terms whose intended range would be that of the Contract.

    One change needed is to revise the term that is called Contract Terms Set, which is in effect a Commitment, to actually make it a child of Commitment, thus making the terms of the Contract Terms Set qualifying terms of the Commitment.

    This does not reflect the whole story, since those properties which qualify a commitment are themselves also terms of the contract. This can be implied, as a minimum, by identifying that the Commitment is itself related to the contract by some kind of parthood. Changes have been identified by the Foundations FCT to address this, and in fact the kind of parthood relation referred to here applies to things other than the Commitment.

  • Reported: EDMC-FIBO/FND 1.1 — Sun, 12 Feb 2017 00:59 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Revise and refactor ContractTermsSet and its relationship to Contract

    This issue affects section 10.9.2 Ontology: Contracts. It calls for the addition of a new concept, ContractualCommitment, as a child of both ContractualElement and Commitment, changing the parent class of ConditionsPrecedent and NonBindingTermsSet (renamed via deprecation of the original and the addition of a new NonBindingTerms concept) from ContractTermsSet to ContractualElement, revision of definitions related to contractual element, adding definitions for contractual commitment and deprecation of contract terms set. A new property, hasContractualElement, is introduced as a replacement for hasTerms (which is deprecated via this resolution), and finally deprecation of ContractTermsSet.

    Minor clean-up of annotations should also be accomplished as appropriate (such as elimination of preceding ‘ ‘ in front of some annotations or at the end of others, revising definitions and sources for some of the existing terms to align better with the new ones, etc.).

    Finally, while working through the resolution text, the task force noted that the part of the table describing the properties details for this ontology was incorrect, copied from another ontology and including the properties from that ontology not contracts. This resolution fixes that.

    This resolution depends on the resolution to issue FIBOFND12-5.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Not all transferable contracts are unilateral

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The definition of transferable contract is an equivalence of a number of restrictions with both written contract and unilateral contract. Not all transferable contracts are unilateral, however.

    Unilateral contract should be eliminated from the intersection, and, per the FIBO development policy, the two min 1 QCR restrictions in the intersection should be changed to someValuesFrom.

  • Reported: EDMC-FIBO/FND 1.1 — Sun, 12 Feb 2017 01:02 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Not all transferable contracts are unilateral

    The definition of transferable contract is defined as the intersection of written contract, unilateral contract, and several restrictions - that it confers some commitment, that it has a minimum of 1 ContractPrincipal and that it has a minimum of 1 ContractCounterparty.

    This definition is overly restrictive and should be loosened to eliminate the requirement for being a unilateral contract. Further, the min 1 restrictions should be changed to someValuesFrom, which is more efficient from a reasoning perspective. Without eliminating the constraint that a transferable contract must be unilateral, the FIBO FBC specification cannot depend on this concept as a parent for security.

    This resolution depends on the resolution of FIBOFND12-7.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Move StructuredCollection from IND to FND

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The concept of a structured collection is not limited to indicators, and should be moved from IND to FND/Arrangements. This is needed so that a new concept, that of a Record, can be added to FND/Documents (using the definition from the OMG's RMS), as a child of Document and of StructuredCollection, which is required to fix the definition of an account in FBC.

    This is a first step in the process – a subsequent revision to IND should deprecate the current StructuredCollection concept in favor of this one added to FND.

  • Reported: EDMC-FIBO/FND 1.1b2 — Sun, 12 Feb 2017 01:06 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Move StructuredCollection from IND to FND

    The concepts of a structured collection and record are needed to support a number of downstream definitions, and because they are very general notions, they should be added to Foundations.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Several FND about files have incorrect prefixes

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    These are in informative about files for several of the FIBO FND modules, and do not affect the specification itself, but should be corrected with the FND 1.2 submission.

    In addition, the original AboutFND-1.0 and AboutFND-1.1 files should be revised to use the original versionIRIs for ontologies that are modified by the FND 1.2 revision, so that they still reference the older versions for users that choose not to update to the latest. A new AboutFND-1.2 file should be provided to reference only the latest revisions of all of the ontologies that make up the FND specification.

    The informative files should be provided in a separate archive from the normative files with the FND 1.2 revision.

  • Reported: EDMC-FIBO/FND 1.1 — Sun, 12 Feb 2017 01:14 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Several FND about files have incorrect prefixes

    This issue affects informative machine readable files only, and has no impact on the specification text.

    It involves (1) providing a new FIBO FND 1.2 about file for the latest version of the specification, which describes the revision and provides metadata for use on the OMG server in the specification catalog as well as acting as a "make file" for the ontology, (2) revising the FIBO FND 1.1 about file to reference the versionIRIs from the prior version of the ontologies, for those users who are not ready to adopt the latest versions, and (3) corrects the about files for several of the modules in FND, attached.

    Note that the FND 1.0 about file for FIBO FND 1.0 does not need revision.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

comprises needs an explanatory note and inverse property

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    comprises is used in places in FIBO as a broader concept than has part, that is somewhat related to hasPart (i.e., similar to and possibly a synonym of includes), where we need cardinality restrictions on how many parts of some type that something can have, or on the thing that something must be included in. Comprises is not defined as transitive to facilitate the use of cardinality restrictions.

    In order to help make this clear, we need an explanatory note on comprises, and an inverse for it, possibly called isIncludedIn, that can be used for this purpose.

  • Reported: EDMC-FIBO/FND 1.1b2 — Sun, 12 Feb 2017 00:38 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    comprises needs an explanatory note and inverse property

    This issue involves adding a note to the definition of comprises as well as creating a new inverse property, isIncludedIn, for use in other downstream ontologies.

    The resolution of this issue depends on the resolution of FIBOFND12-2 and FIBOFND12-3.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Schedule in FND/DatesAndTimes should be a child of Collection

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    A schedule is defined as a collection of potential / planned / possible / past / events associated with dates. It has no parent class at the moment, but should be modeled as a child of Collection. It's definition should also be revised to reflect the broader sense as stated herein rather than as a "table of dates", with an explanatory note that talks about the difference between ad hoc and regular schedules.

    There are a number of places in the other downstream FIBO ontologies where the use of a generic hasSchedule property would be appropriate in restrictions, rather than inventing several local and more restricted properties.

    In addition, the custom datatypes for dateValue and durationValue should be deprecated in favor of xsd:string, to eliminate reasoning errors in downstream processing.

    Individuals for the days of the week are also needed to support definition of certain rules for loans (interest payments) and coupon payments. These should be defined as time intervals in accordance with the OMG DTV specification.

    A number of the definitions need to be reformulated to correspond to our policy of using ISO 704-style definitions as well.
    Attachments

  • Reported: EDMC-FIBO/FND 1.1b2 — Sun, 12 Feb 2017 00:43 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Schedule in FND/DatesAndTimes should be a child of Collection

    This issue resolution covers a number of issues in the FinancialDates ontology, including addressing the problems identified in the issue itself, including numerous editorial changes to the annotations on various concepts in the ontology, as highlighted in the text of the resolution, attached below.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

The domain of the "uses" and range of "isUsedBy", added in FND 1.1, cause reasoning errors

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The "isUsedBy" property links a currency to the geopolitical entity that uses that currency, and was originally intended to be useful with not only autonomous agents but entities such as geopolitical entities in its range.

    The addition of the domain for uses and range for isUsedBy as a part of the FND 1.1 RTF work now cause individuals that are geopolitical entities to be inferred to be AutonomousAgents, which is wrong.

    The domain of uses and range of is used by should be removed, eliminating this constraint, and the definitions revised accordingly.

  • Reported: EDMC-FIBO/FND 1.1b2 — Sun, 12 Feb 2017 00:32 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    The domain of the "uses" and range of "isUsedBy", added in FND 1.1, cause reasoning errors

    The correction to this issue involves loosening the domain and range restrictions on two properties: isUsedBy and uses in the Relations ontology, and revising the definition of uses so that it does not refer to an autonomous agent as the entity in the domain of uses.

    Resolution of this issue depends on the resolution to FIBOFND12-2.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Several additional concepts are needed in the Business Dates ontology to support specific schedule definitions

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Several concepts, such as business recurrence intervals including the day of the month, day of the week, and end of the month (as classes) are needed to support downstream FIBO development, such as for securities and loans.

    In addition, a higher level concept of convention is needed to capture business day adjustments and conventions as their parent class, to clean up the hierarchy.

    A number of the definitions in the BusinessDates should be cleaned up as a part of this revision to follow our policy for use of ISO 704 conventions for definition development as well.

  • Reported: EDMC-FIBO/FND 1.1 — Sun, 12 Feb 2017 00:51 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Several additional concepts are needed in the Business Dates ontology to support specific schedule definitions

    The primary modifications made by this resolution primarily involve the addition of Convention as a structural concept to group some of the others in this ontology and the addition of three classes as business day conventions, including day of the month, day of the week, and end of the month, all of which are needed to support more complex schedule definitions in downstream FIBO ontologies.

    A handful of definitions were revised to support an ISO 704 approach and a couple of missing definitions were added for some properties.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Definition of property 'provides' implies a specific audience

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    provides: makes something available to

    The “to” at the end implies a 3 way relationship between provider, what’s provided and whom it is provided to. In fact the predicate does not involve the latter at all so the “to” should be removed.

  • Reported: EDMC-FIBO/FND 1.1b2 — Sun, 12 Feb 2017 00:27 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Definition of property 'provides' implies a specific audience

    Resolution of this issue requires (1) modification of the Relations ontology to revise the definition of provides, and (2) modification of Table 10-11, Relations Details, to make the corresponding change to the text of the definition.

    The change to the ontology itself necessitates revision of its version IRI as well.

  • Updated: Thu, 22 Jun 2017 16:43 GMT
  • Attachments:

Inability to import UML-XMI files into generic UML

  • Status: closed  
  • Source: EDM Council ( Dennis Wisnosky)
  • Summary:

    Terms_Agreement: I agree
    First_Name: John
    Last_Name: Gemski
    Email: jgemski@thegoldensource.com
    Company: GoldenSource Corp
    CODE: OMG621
    B1: Submit

    Comments:

    The xml files contained in "Updated UML-XMI for Foundations" (finance-13-09-06.zip) cannot be imported into our UML tools. We tried Visual Paradigm and Erwin and got the same results. Only the class name was imported.

  • Reported: EDMC-FIBO/FND 1.0b1 — Fri, 21 Feb 2014 19:46 GMT
  • Disposition: Deferred — EDMC-FIBO/FND 1.2
  • Disposition Summary:

    Inability to import UML-XMI files into generic UML

    The resolution to this issue requires submitting a single UML project for all of the FIBO ontologies, which the FIBO team has determined may be accomplished via a new approach to integration of the UML XMI. Testing this has necessarily been deferred to a subsequent revision task force due to the need for modifications to the existing tool infrastructure used to generate the XMI, however.

  • Updated: Thu, 22 Jun 2017 16:43 GMT

Need the generic concept of a legal agent from a financial services perspective

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    This concept should be a child of PartyInRole, and a parent of two additional new classes, ThirdPartyAgent and LicensedAgent, per the CFTC requirement, with a definition similar to "An agent in the financial sense is any person who has been legally empowered to act on behalf of another person." See the 17 CFR Part 45 and
    "The term “registered entity” includes SEFs and DCMs. See CEA sections 1a(40)(A), (C) and (D), 7 U.S.C. 1a(40) (A), (C) and (D). The Commission stated in the RTR Adopting Release that SEFS and DCMs may enter into a contractual relationship with a third party service provider to transmit swap transaction and pricing data to an SDR; however, the SF or DCM will remain responsible for such reporting requirement pursuant to part 43. RTR Adopting Release at 1201." which we are calling ThirdPartyAgent in SEC (issuance).

    Two concepts are required to cover the general notion of a registered agent because of the separation between organizations and individuals in FIBO. Thus, a ThirdPartyAgent is a service provider (organization) and licensee that has the authority to act on behalf of another individual or organization, such as a law firm, accountancy, or investment bank. LicensedAgent is a responsible party (individual) and licensee that has the autority to act on behalf of another individual organization, such as an insurance agent, financial advisor, certain attorneys, and brokers.

    http://www.cftc.gov/idc/groups/public/@newsroom/documents/file/specificationsswapdata122215.pdf

  • Reported: EDMC-FIBO/FBC 1.0 — Wed, 3 May 2017 00:32 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

Integrate concepts related to instrument settlement into FBC


The parent property for hasPrincipalExecutiveOfficeAddress is too general


The concept of a lifecycle and lifecycle event is urgently needed for securities and derivatives

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The concept of a lifecycle, such as a product lifecycle, economic lifecycle, etc. is urgently needed for securities and derivatives, together with concepts for lifecycle stages and events. These concepts are shared across a number of finance areas, for example for loan origination, the lifecycle of a capital markets deal, and in particular for swaps and derivatives.

    New SEC rulings will reporting of certain information as at a number of stages in the lifecycle of an order, including at origination, routing, modification, cancellation, and execution, so having the concept of a lifecycle (and in this case an order lifecycle), the relevant stages, and events that occur during those stages, including but not limited to events that trigger reporting requirements, is essential.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 2 May 2017 20:45 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

Revise the "about file" for the FBC Products and Services module to include "FBC" in its name and IRIs

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The about file for the FBC products and services module has the same name as the one in FND, and should be differentiated so that users and tools are not confused as to which is which.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 2 May 2017 19:30 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

The definition of DebtInstrument is too constraining

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The current definition of debt instrument, which is "a financial instrument evidencing monies owed by the issuer to the holder on terms as specified" is too limiting – it does not allow for cases where real property or another instrument might be owed, as opposed to cash.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 2 May 2017 16:26 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

The definition of DerivativeInstrument is stated in terms of owners and should be in terms of holders of the instrument

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The definition of derivative instrument in the financial instruments ontology defines an instrument in terms of its owner. A more precise definition would refer to the holder of the instrument rather than the owner.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 2 May 2017 15:33 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

Change the parent of StandardizedTermsSet due to a change to FND in the 1.2 RTF

  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The FIBO FND 1.2 RTF deprecated the class named ContractTermsSet in the Contracts ontology in favor of ContractualCommitment. There is one class called StandardizedTermsSet in the FinancialInstruments ontology that should be modified accordingly, rather than continue referring to a deprecated class.

  • Reported: EDMC-FIBO/FBC 1.0 — Tue, 2 May 2017 17:05 GMT
  • Updated: Sun, 7 May 2017 00:19 GMT
  • Attachments:

Need individuals representing the various government entities for the US, Canada, EU, and UK

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Individuals representing the government entities for the US, Canada, the EU and the UK are required to support development of concepts such as jurisdiction-specific legal entities in BE, jurisdiction-specific government agencies such as the Securities Exchange Commission and regulations such as the Securities Exchange Act in FBC, specific indicators and common interest rates such as US and Canadian definitions for unemployment rate, LIBOR, and many others.

    Given that the resolution to FIBOBE11-6 provides the structure and semantics for representing government entities, the resolution to this issue will necessarily depend on the resolution to FIBOBE11-6.

  • Reported: EDMC-FIBO/BE 1.0 — Tue, 12 Jul 2016 20:59 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Need individuals representing the various government entities for the US, Canada, EU, and UK

    Individuals representing the government entities for the US, Canada, the EU and the UK are required to support development of concepts such as jurisdiction-specific legal entities in BE, jurisdiction-specific government agencies such as the Securities Exchange Commission and regulations such as the Securities Exchange Act in FBC, specific indicators and common interest rates such as US and Canadian definitions for unemployment rate, LIBOR, and many others.

    Given that the resolution to FIBOBE11-6 provides the structure and semantics for representing government entities, the resolution to this issue will necessarily depend on the resolution to FIBOBE11-6.

    The content introduced herein is jurisdiction-specific. As a result, and following the approach taken with the FBC RFC, this resolution creates a new Section 10, Jurisdiction-Specific Ontologies, for the purposes of documention. The ontologies consist of individuals only, however, without any new classes, and as a result only the metadata for these ontologies is documented in the specification itself.

    This resolution depends on the resolution of FIBOBE11-6, which defines the classes and properties in the form of the Government Entities ontology on which this resolution depends.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

CharteredLegalPerson and StatutoryBody should not be children of JuridicalPerson

  • Key: FIBOBE11-2
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Both chartered legal persons and statutory bodies are kinds of legal entities that are created by governments and are not "firms". As a result, they should not be children of judicial person. They should have a new parent under legal entity, and chartered legal person should be renamed to chartered body.

    Additionally, the definition of sovereign is really weak, although the intent based on what is modeled is to describe sovereign state rather than the concept of “sovereign” independently from the concept of a sovereign state.

    We need sovereign state for FBC, and to relate sovereign state to the country (geopolitical entity) it corresponds to.

  • Reported: EDMC-FIBO/BE 1.0b2 — Thu, 4 Jun 2015 02:45 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    CharteredLegalPerson and StatutoryBody should not be children of JuridicalPerson

    Both chartered legal persons and statutory bodies are kinds of legal entities that are created by governments and are not "firms". As a result, they should not be children of judicial person. They should have a new parent under legal entity, and chartered legal person should be renamed to chartered body.

    Additionally, the definition of sovereign is really weak, although the intent based on what is modeled is to describe sovereign state rather than the concept of "sovereign" independently from the concept of a sovereign state.

    We need sovereign state for FBC, and to relate sovereign state to the country (geopolitical entity) it corresponds to.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

Individuals representing specific government entities are required to support BE, FBC, and IND

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Individuals representing government entities – at the state/province and national levels – for the US, Canada, EU, and UK are needed to support ongoing work in BE, FBC, and IND, and will be needed for additional FIBO specifications in the pipeline.

    Examples include individuals for government agencies such as the Securities Exchange Commission in FBC, regulations such as the Securities Exchange Act in FBC, various jurisdiction-specific legal entities such as an LLC in BE, and for specific indices, e.g., US and Canadian unemployment rates, common interest rates such as LIBOR, and so forth.

    Development of such individuals depends on the resolution to issue FIBOBE11-6, which provides the structure and semantics on which these individuals depend.

  • Reported: EDMC-FIBO/BE 1.0 — Tue, 12 Jul 2016 21:07 GMT
  • Disposition: Duplicate or Merged — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Individuals representing specific government entities are required to support BE, FBC, and IND

    This issue is an exact duplicate of issue FIBOBE11-12, and thus should be merged with FIBOBE11-12.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs

  • Key: FIBOBE11-3
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Based on review by several bankers and attorneys, the notion of a natural person as currently captured in BE is too broad for legal purposes, and what is actually needed is a narrower definition of legally capable person. A legally capable person is either a legally capable adult or emancipated minor as defined in some jurisdiction.

    The definition of legally capable adult already exists in FND, but here we need to augment that definition to make the connection to a jurisdiction and to make it a child of LegalPerson in the context of BE.

  • Reported: EDMC-FIBO/BE 1.0b2 — Wed, 7 Oct 2015 21:46 GMT
  • Disposition: Deferred — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs

    The resolution to this issue crosses a number of ontologies, which means that resolving it requires considerable documentation. The issue is also considered lower priority by the 1.1 RTF. Given time constraints, the RTF has determined that we need to defer this to the 1.2 RTF.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

Need better modeling of legal forms

  • Key: FIBOBE11-1
  • Status: closed  
  • Source: Adaptive ( Pete Rivett)
  • Summary:

    At the moment all we have is &fibo-be-corp-corp;hasLegalFormAbbreviation of type text.
    The legal form should be a class in its own right with abbreviation as one of many properties (or a label), including the jurisidiction/country where it's used and some annotations describing the legal aspects. It should also be related to some of the standard classes such as IncorporatedCompany.

  • Reported: EDMC-FIBO/BE 1.0b1 — Fri, 7 Nov 2014 08:14 GMT
  • Disposition: Deferred — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Need better modeling of legal forms

    Addressing this issue requires development (1) the resolution to the issues addressed to date by the BE 1.1 RTF, including the new government entities ontologies / individuals, (2) additional government entities individuals, depending on the jurisdictions addressed by the resolution, and (3) research into the various kinds of entities appropriate for any given jurisdiction and creation of new jurisdiction-specific ontologies that provide individuals corresponding to these entities. The work required to address this is significant, and as a result, the BE 1.1 RTF has determined that resolution must be deferred to the BE 1.2 RTF.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

The current definition of LegalEntity should really be LEICapableEntity

  • Key: FIBOBE11-4
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    In the LegalPersons ontology, the LegalEntity concept is defined as something that fulfills the requirement for an LEI-capable entity. The concept should be retained, but moved to the LEIEntities ontology and renamed LEICapableEntity,

  • Reported: EDMC-FIBO/BE 1.0b2 — Thu, 8 Oct 2015 00:03 GMT
  • Disposition: Deferred — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    The current definition of LegalEntity should really be LEICapableEntity

    This issue covers a number of different ontologies in FIBO BE, and due to lower prioritization of the issue as well as lack of time to make the number of changes required, the RTF has agreed to defer resolution to the BE 1.2 RTF.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

Definitions for government entities are urgently required to support FBC, IND, and new FIBO RFCs anticipated in areas including loans and securities

  • Key: FIBOBE11-6
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The FIBO BE 1.0 specification includes a handful of government entities that are inadequate to support requirements for representing a number of kinds of government and government-sponsored organizations. Examples include what are called government-sponsored enterprises in the US, such as Fannie Mae and Freddie Mac, which are corporations established via statutory law but are privately held corporations, government owned corporations created by Congress such as the FDIC and Federal Reserve banks, government agencies that publish statistics on which many indicators (and derivatives that reference them) depend, supranational government agencies and organizations such as the European Central Bank, various government commissions, such as the Securities and Exchange Commission, and so forth.

    The creation of these definitions in a separate ontology (and module) and moving the 3 existing classes to that ontology will facilitate extensions and the addition of jurisdiction-specific entities, such as for the US, EU, UK and other national and multinational governmental entities as they are identified over time.

  • Reported: EDMC-FIBO/BE 1.0 — Fri, 8 Apr 2016 17:49 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Definitions for government entities are urgently required to support FBC, IND, and new FIBO RFCs anticipated in areas including loans and securities

    The FIBO BE 1.0 specification includes a handful of government entities that are inadequate to support requirements for representing a number of kinds of government and government-sponsored organizations. Examples include what are called government-sponsored enterprises in the US, such as Fannie Mae and Freddie Mac, which are corporations established via statutory law but are privately held corporations, government owned corporations created by Congress such as the FDIC and Federal Reserve banks, government agencies that publish statistics on which many indicators (and derivatives that reference them) depend, supranational government agencies and organizations such as the European Central Bank, various government commissions, such as the Securities and Exchange Commission, and so forth.

    The creation of these definitions in a separate ontology (and module) and moving the 3 existing classes to that ontology will facilitate extensions and the addition of jurisdiction-specific entities, such as for the US, EU, UK and other national and multinational governmental entities as they are identified over time.

    This issue introduces a new section 9.10, Module: Government Entities. The modifications defined herein are primarily additive, i.e., this adds significant new content to the FIBO Business Entities specification. It also adds a new class to the Functional Entities ontology (section 9.7.1) and deprecates three existing classes in the LEI Entities ontology (section 9.2.4, making them equivalent to three new classes for the same concepts in the new Government Entities ontology). Finally, it creates a new “about file” for the BE 1.1 Specification, including the new ontology in its composite set of imports for ease of use by implementers and other FIBO users.

    These changes are needed to support the addition of the business entities described above, as well as to support requirements in FBC and IND for the representation of regulatory agencies, state-backed exchanges and self-regulating organizations, government statistical agencies that publish various economic indicators, and so forth.

  • Updated: Thu, 6 Apr 2017 13:52 GMT
  • Attachments:

Sole Proprietorship is defined twice -- once in the Sole Proprietorships ontology (new) and once in the Functional Entities ontology

  • Key: FIBOBE11-5
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    When the sole proprietorships ontology was created, the class SoleProprietorship was introduced as an independent party in the new ontology. However, a class by the same name already existed in the Functional Entities ontology which is defined as a kind of functional business entity (business). The latter should be deprecated and made equivalent to the new class to avoid confusion and reasoning issues.

  • Reported: EDMC-FIBO/BE 1.0 — Fri, 8 Apr 2016 17:35 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Sole Proprietorship is defined twice – once in the Sole Proprietorships ontology (new) and once in the Functional Entities ontology

    When the sole proprietorships ontology was created, the class SoleProprietorship was introduced as an independent party in the new ontology. However, a class by the same name already existed in the Functional Entities ontology which is defined as a kind of functional business entity (business). The latter should be deprecated and made equivalent to the new class to avoid confusion and reasoning issues.

    This issue affects section 9.7.1, Functional Entities and the related ontology only. It eliminates a redundant class that is defined with inconsistent semantics, which would be confusing and possibly detrimental for FIBO BE users and implementers.

  • Updated: Thu, 6 Apr 2017 13:52 GMT
  • Attachments:

Definition of tribal government entities is needed to support anit-money laundering (AML) requirements

  • Key: FIBOBE11-7
  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Currently, BE 1.0 does not provide the ability to represent tribal governments or their jurisdictions. This information is needed to help ensure compliance with applicable laws relating to bribery or corruption, including the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act 2010 (UKBA), the U.S. Bank Bribery Act (Bribery Act), and other anti-bribery, anti-money laundering (AML) and corruption laws in the jurisdictions where the financial institution does business.

  • Reported: EDMC-FIBO/BE 1.0 — Fri, 8 Apr 2016 17:53 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.1
  • Disposition Summary:

    Definition of tribal government entities is needed to support anit-money laundering (AML) requirements

    Currently, BE 1.0 does not provide the ability to represent tribal governments or their jurisdictions. This information is needed to help ensure compliance with applicable laws relating to bribery or corruption, including the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act 2010 (UKBA), the U.S. Bank Bribery Act (Bribery Act), and other anti-bribery, anti-money laundering (AML) and corruption laws in the jurisdictions where the financial institution does business.

  • Updated: Thu, 6 Apr 2017 13:52 GMT

The current definition of LegalEntity should really be LEICapableEntity

  • Key: FIBOBE12-3
  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    In the LegalPersons ontology, the LegalEntity concept is defined as something that fulfills the requirement for an LEI-capable entity. The concept should be retained, but moved to the LEIEntities ontology and renamed LEICapableEntity,

  • Reported: EDMC-FIBO/BE 1.0b2 — Thu, 8 Oct 2015 00:03 GMT
  • Updated: Tue, 11 Oct 2016 15:01 GMT

The definition of NaturalPerson in the LegalPersons ontology is inadequate for banking needs

  • Key: FIBOBE12-2
  • Status: open  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Based on review by several bankers and attorneys, the notion of a natural person as currently captured in BE is too broad for legal purposes, and what is actually needed is a narrower definition of legally capable person. A legally capable person is either a legally capable adult or emancipated minor as defined in some jurisdiction.

    The definition of legally capable adult already exists in FND, but here we need to augment that definition to make the connection to a jurisdiction and to make it a child of LegalPerson in the context of BE.

  • Reported: EDMC-FIBO/BE 1.0b2 — Wed, 7 Oct 2015 21:46 GMT
  • Updated: Tue, 11 Oct 2016 15:01 GMT

Need better modeling of legal forms

  • Key: FIBOBE12-1
  • Status: open  
  • Source: Adaptive ( Pete Rivett)
  • Summary:

    At the moment all we have is &fibo-be-corp-corp;hasLegalFormAbbreviation of type text.
    The legal form should be a class in its own right with abbreviation as one of many properties (or a label), including the jurisidiction/country where it's used and some annotations describing the legal aspects. It should also be related to some of the standard classes such as IncorporatedCompany.

  • Reported: EDMC-FIBO/BE 1.0b1 — Fri, 7 Nov 2014 08:14 GMT
  • Updated: Tue, 11 Oct 2016 15:01 GMT

Replace renamed MoneyAmount concept with a deprecated concept

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    T.he task force reminded one another that any renamed element would be retained but deprecated for some period of time (possibly until a 2.0 version) of the FIBO standard. Thus, although we have renamed MoneyAmount to AmountOfMoney, we agreed to retain a deprecated concept called MoneyAmount, and make that equivalent to AmountOfMoney

  • Reported: EDMC-FIBO/FND 1.0 — Mon, 15 Feb 2016 17:56 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Replace renamed MoneyAmount concept with a deprecated concept

    The task force reminded one another that any renamed element would be retained but deprecated for some period of time (possibly until a 2.0 version) of the FIBO standard. Thus, although we have renamed MoneyAmount to AmountOfMoney, we agreed to retain a deprecated concept called MoneyAmount, and make that equivalent to AmountOfMoney.

    This issue affects section 10.12.2, Ontology: Currency Amount. It requires that the revisions identified in resolutions to issues FIBOFND11-10, FIBOFND11-20, FIBOFND11-44, which revise the Currency Amount ontology, have already been applied.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Revise the two products and services ontologies to reflect the name change made to MoneyAmount

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Two ontologies referenced MoneyAmount before the resolution to issue 44 revised it, and were missed until the "about files" were modified and the two ontologies were included in regression testing.

    This issue affects only these two ontologies and corrects the oversight.

  • Reported: EDMC-FIBO/FND 1.0 — Sun, 14 Feb 2016 20:48 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Revise the two products and services ontologies to reflect the name change made to MoneyAmount

    Two ontologies referenced MoneyAmount before the resolution to issue 44 revised it, and were missed until the "about files" were modified and the two ontologies were included in regression testing.

    This issue affects only these two ontologies and corrects the oversight.

    This issue affects the new section 10.15, Products and Services Module.

    Both ontologies in this section are impacted by this issue.
    This resolution depends on the resolution of issue FIBOFND11-12 and FIBOFND11-44.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Revise the about files for FND to include the new ontologies added by FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The current set of about files for FND does not include the latest ontologies. These should be revised so that a user can automatically import the entire set of ontologies for FND if so desired.

    This issue affects machine-readable files only, and has no impact on the specification text.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:47 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Revise the about files for FND to include the new ontologies added by FBC

    Two machine-readable files are affected by this issue resolution, which does not make any changes to the specification text.

    The FIBO FND 1.0 about file requires revision to (1) include the module-level about files, and (2) use the versioned IRIs for the set of ontologies that comprise the FIBO FND 1.0 specification.

    In addition, a new FIBO FND 1.1 about file is needed to incorporate all of the new ontologies integrated via FBC as well as to include the reference to the LCC Country Codes ontology required for representation of Currency Codes in FND 1.1.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Section 8.1 limits usage of ODM constructs

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FIBO now allows for the usage of all constructs in ODM. We should therefore remove any references o FIBO defining as part of the standard a sub-set of ODM to be used in FIBO models.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:44 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Amend Clause 8 to reflect possible use of all ODM constructs

    In Clause 8.1:
    1. Remove sub-clause 8.1.2 including Table 8.1 (and renumber subsequent tables)

    2. Delete the two sentences in 8.1.1 which read:
    “The FIBO specifications use an explicit subset of ODM as detailed in Table 8.1 below. This subset eliminates some of the flexibility that ODM provides in exchange for consistency in terms of the graphical notation. “
    3. Remove heading for 8.1.1

  • Updated: Tue, 12 Jul 2016 14:46 GMT

Resolve issues with Monetary Amount and Amount of Money

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    There is a disagreement in the FIBO LOANS working group for what to use for LoanAmount, PropertyValuationAmount, and other types of concepts usually based on a measure of currency. This is caused by confusing definitions of MonetaryAmount and MoneyAmount. This confusion should be resolved so that FIBO users know what concept to use for what purpose.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:42 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Resolve issues with Monetary Amount and Amount of Money

    There is a disagreement in the FIBO LOANS working group for what to use for LoanAmount, PropertyValuationAmount, and other types of concepts usually based on a measure of currency. This is caused by confusing definitions of MonetaryAmount and MoneyAmount. This confusion should be resolved so that FIBO users know what concept to use for what purpose.

    This issue affects sections 10.12.1, Ontology: AccountingEquity, and 10.12.2, Ontology: Currency Amount. It requires that the revisions identified in resolutions to issues FIBOFND11-10 and FIBOFND11-20, which revise the Currency Amount ontology, have already been applied.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Introduce the concept of Litigation Capacity into the LegalCapacity ontology

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The business entities standard requires the notion of litigation capacity in addition to other capacities already provided in the LegalCapacity ontology. This is a capability of a LegalPerson, LitigationCapacity would be a subClassOf LegalCapacity.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:40 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Introduce the concept of Litigation Capacity into the LegalCapacity ontology

    The business entities standard requires the notion of litigation capacity in addition to other capacities already provided in the LegalCapacity ontology. This is a capability of a LegalPerson, LitigationCapacity would be a subClassOf LegalCapacity.

    This issue affects section 10.10.3 Ontology: Legal Capacity. It depends on the resolution of FIBOFND11-14, which also modified the Legal Capacity ontology.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Incorporate the description of the new table notation and revise table structure for those that have not been revised in other issue resolutions

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    Some of the revisions made to the 1.0 FND specification, including those made by FBC, have revised the table notation included in section 10 of this specification. The new notation should be described in section 6, and the various tables that have not been revised by other resolutions should be updated accordingly.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:35 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Addition of new Clause 6.3, changes in other Clause 6 mterial, plus new tables in Clause 10

    This proposal covers all the works required for resolution to number 42 (originally in the accident-prone #52 which may now safely be ignored or closed))

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Update the Conformance section in line with changes in FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The latest thinking with respect to the FIBO specifications and conformance was captured in FBC. The Foundations specification needs to be revised to reflect these changes as well, particularly with respect to how other specifications should reference the various conformance points.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:30 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Changes to wording in Conformance clause

    “FIBO Model Conformant”
    1. Change the heading 2.2.1 from
    2.2.1 Assessing Model Conformance

    To

    2.2.1 Assessing FIBO Model Conformance

    2. In the first paragraph in sub clause 2.2.1 italicize the words “FIBO Model Conformant”

    (also a change that is in the redline but may or may not have been covered by another issue):

    In Sub-clause 2.2.2.1 insert the word “Foundations” between “FIBO” and “Model”

    So that the clause which reads:

    “If a technical application is FIBO Model Conformant with the complete set of FIBO Foundations ontologies, then the application satisfies Full FIBO Model Conformance.
    Now reads
    “If a technical application is FIBO Model Conformant with the complete set of FIBO Foundations ontologies, then the application satisfies Full FIBO Foundations Model Conformance.”

    “FIBO Extension conformant”
    1. Rename the heading for Sub-clause 2.3
    From:
    Conformant Extensions of FIBO Content
    To
    FIBO Extension conformance
    2. In paragraph 4 of this sub-clause, italicize the words “FIBO Extension conformance”
    FIBO Business Diagram Conformance and FIBO Business Table Conformance
    1. In sub-clause 2.4, insert the following text after the existing text:
    “For the avoidance of doubt, this sub-clause describes diagrams which are to be presented to business subject matter expert and not diagrams which form part of this specification itself. FIBO Model Conformance may be asserted without reference to this conformance point, and model content may be presented to various audiences including business audiences without asserting conformance to this sub-clause.”

    2. Rename sub-clause 2.4.2
    From
    2.4.2 Business Diagram Conformance
    To
    2.4.2 FIBO Business Diagram Conformance
    3. Rename sub-clause 2.4.3
    From
    2.4.3 Business Table Conformance
    To
    2.4.3 FIBO Business Table Conformance
    4. In 2.4.3, in paragraph 1, Delete the words “two kinds of” and replace the words “: Basic Table and Extended Table”, replacing these with “These may range from basic presentation of terms, definitions and synonyms, to tables which represent all of the model content or all model content except relationships between relationships. “ so that paragraph 1 reads:
    This sub clause concerns tabular presentations. These may range from basic presentation of terms, definitions and synonyms, to tables which represent all of the model content or all model content except relationships between relationships. Conformant FIBO Business Tables may be rendered as spreadsheets or as textual documents in a tabular layout.

    5. Rename heading 2.4.3.1 to read:
    “2.4.3.1 Basic Tables”

    6. Rename heading 2.4.3.2 to read:

    “2.4.3.2 Extended Tables”

    7. In 2.4.3.2

    Amend the first bullet, “Class”, to read:

    • Class (including classes which are equivalent to logical unions and classes which are enumerations of individuals)

    After the bullet “Simple Property” add the following new bullet:
    • The relationship between any named class which represents a logical union, and those classes which are members of that union

    After the bullet “Individuals’ and the sub bullet which follow, insert the following bullet and sub bullet:

    • Enumerated sets of individuals
    o ‘oneOf relationships from the enumerated class to each of the individuals members of that set

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Update UML References to Version 2.5

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The current version of the Foundation specification refers to UML 2.4.1. This should be updated to refer to UML 2.5.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 12 Feb 2016 21:27 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Update UML Reference in Section 3.1 Table

    In Section 3.1 Table, in the row for [UML2]:

    Replace the next in the “Description” column, which reads:
    "Unified Modeling Language™ (UML®), version 2.4.1. OMG Specification formal/2011-08-06. Available at http://www.omg.org/spec/UML/2.4.1/."

    With the following text
    "Unified Modeling Language™ (UML®), version 2.5. Available at http://www.omg.org/spec/UML/2.5/."

  • Updated: Tue, 12 Jul 2016 14:46 GMT

Missing a generic "hasAddress" property in the Addresses ontology

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    There is a fundamental property "hasAddress" missing from the Addresses ontology in FND.

    We go right from the ultra-generic (and IMO pointless) "has" to very specific address properties such as hasOperatingAddress, hasPrimaryAddress etc. Further these are very restricted by domain (FormallyConstitutedOrganization).
    There is a clear and fundamental need to record the address of things generally including organization units, branches etc.

    In addition, we need concepts related to physical delivery address – so that the range of isRegisteredAddress in BE can be more accurately represented.

  • Reported: EDMC-FIBO/FND 1.0 — Wed, 10 Feb 2016 22:53 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Missing a generic "hasAddress" property in the Addresses ontology

    There is a fundamental property "hasAddress" missing from the Addresses ontology in FND. We go right from the ultra-generic (and IMO pointless) "has" to very specific address properties such as hasOperatingAddress, hasPrimaryAddress etc. Further these are very restricted by domain (FormallyConstitutedOrganization). There is a clear and fundamental need to record the address of things generally including organization units, branches etc. In addition, we need concepts related to physical delivery address – so that the range of isRegisteredAddress in BE can be more accurately represented.

    This issue affects section 10.7.3 Ontology: Addresses, with downstream impact on Organizations and on People. The resolution of this issue is independent of other resolutions in the FND RTF 1.1 report.

    Revisions include modifying the Addresses ontology as discussed. In addition, and because of the overlap with changes in People, an additional issue, to change the “identifies <something>” properties of IdentityDocument to be “verifies <something>” was also incorporated into this resolution, together with moving a few altLabels to use the FIBO synonym annotation instead.

    Finally, also with respect to the definition of IdentityDocument, the RTF determined that because a passport can identify both a mother and child, the restriction that an identity document identifies exactly 1 person should be relaxed to be someValuesFrom person.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

The Agreements ontology does not match the FND 1.0 Specification for the definition of Agreement

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    An FND Beta 1 resolution to revise the minimum number of parties to an agreement to be 2, (originally a minimum of 1), which was revised properly in the body of the specification, was not implemented in the machine-readable ontology files.

    This issue affects the ontology files only, not the specification text.

  • Reported: EDMC-FIBO/FND 1.0 — Sat, 6 Feb 2016 03:05 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    The Agreements ontology does not match the FND 1.0 Specification for the definition of Agreement

    An FND Beta 1 resolution to revise the minimum number of parties to an agreement to be 2, (originally a minimum of 1), which was revised properly in the body of the specification, was not implemented in the machine-readable ontology files.

    This issue primarily affects the ontology files rather than the specification text.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Correct errors, including section references, in the conformance section of the specification

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The FIBO FBC RFC noted issues in the conformance section of the specification and made changes to FND 1.0 as noted in the revised text.

  • Reported: EDMC-FIBO/FND 1.0 — Tue, 5 Jan 2016 20:02 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Correct errors, including section references, in the conformance section of the specification

    The FBC RFC, which was adopted at the December 2015 meeting in La Jolla, made the following modifications to the FND 1.0 specification that should be incorporated into the document itself. They details that make the conformance section more readable by implementers.

  • Updated: Tue, 12 Jul 2016 14:46 GMT

Then change in which PostalAddress was renamed to PhysicalAddress is not backwardly compatible

  • Status: closed  
  • Source: EDM Council ( Dennis Wisnosky)
  • Summary:

    When PostalAddress was renamed to PhysicalAddress this created a non backward compatible change to the Addresses ontology. This needs to be changed to a non-disruptive change so that BE and others can still refer to the class PostalAddress.

  • Reported: EDMC-FIBO/FND 1.0 — Thu, 3 Mar 2016 16:25 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Retain the existing PostalAddress concept alongside the new PhysicalAddress concept in the Addresses ontology

    Add a new class PostalAddress with the same assertions as the original class of that name, as a sub class of the previously renamed PhysicalAddress.

    Note that for OWL backward compatibility it is sufficient that the assertions exist (including by inheritance), so it is not necessary to add back the sub class relationships that the original class had, since these are inherited by the class now called PhysicalAddress.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Several properties involving dates require revision to leverage the FinancialDates ontology

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FinancialDates was introduced as a part of the FND FTF 1.0 activity. A number of properties, such as hasDateOfIssuance and hasExpirationDate in FND/Arrangements/Documents, hasEffectiveDate in FND/Agreements/Contracts, hasCommencementDate in FND/Parties/Parties, and possibly others should be revised to be children of hasDate in FND/DatesAndTimes/FinancialDates with a range of Date from the same ontology.

    The set of dates in FND that are defined as datatype properties rather than object properties should be reviewed as to whether or not they should become object properties that are children of hasDate with a range of the Date class as well.

  • Reported: EDMC-FIBO/FND 1.0 — Tue, 3 Mar 2015 17:00 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Several properties involving dates require revision to leverage the FinancialDates ontology

    FinancialDates was introduced as a part of the FND FTF 1.0 activity. A number of properties, such as hasDateOfIssuance and hasExpirationDate in FND/Arrangements/Documents, hasEffectiveDate in FND/Agreements/Contracts, hasCommencementDate in FND/Parties/Parties, and possibly others should be revised to be children of hasDate in FND/DatesAndTimes/FinancialDates with a range of Date from the same ontology.

    The set of dates in FND that are defined as datatype properties rather than object properties should be reviewed as to whether or not they should become object properties that are children of hasDate with a range of the Date class as well.

    This issue affects section 10.4.1 Ontology: Parties, section 10.5.4, Documents, and 10.9.2 Contracts. The resolution of this issue is independent of other resolutions in the FND RTF 1.1 report.

    Revisions include revising the four date properties to have hasDate as a parent property, as discussed. In addition, minor errors in annotations (text), and the label on IndependentParty were corrected as well. In some cases, where the diagrams in the model did not match what was in the specification, those diagrams were also replaced. In particular, several diagrams in the Parties ontology were revised using the current notation and color scheme.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

The definition of isDomiciledIn is inadequate

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The property, isDomiciled in, which is in FND/FormalOrganizations, has a definition of "the country in which the formal organization is domiciled" which is not adequate. A proper definition, sourced from Black's Law Dictionary or Barron's is required for this property.

  • Reported: EDMC-FIBO/FND 1.0 — Tue, 3 Mar 2015 16:51 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    The definition of isDomiciledIn is inadequate

    The property, isDomiciled in, which is in FND/FormalOrganizations, has a definition of "the country in which the formal organization is domiciled" which is not adequate. A proper definition, sourced from Black's Law Dictionary or Barron's is required for this property.

    This issue affects section 10.8.2 Ontology: Formal Organizations. The resolution of this issue is independent of other resolutions in the FND RTF 1.1 report.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

A definition for rate is missing from FND/Utilities/Analytics, required to represent interest rate, payment rate, and market rate

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    We need the definition of "rate" in IND, which should be a child of quantity in the quantities and units ontology, with a definition of "a quantity measured with respect to some other quantity", adapted from http://www.thefreedictionary.com/rate and http://www.icoachmath.com/math_dictionary/rate.html

    We also need a definition for "interest rate", which should be added to currency amount, as a child of rate (above) and monetary measure in currency amount, with the following definition: "a rate of interest charged for the use of money, usually expressed as an annual rate", with explanatory note "The rate is derived by dividing the amount of interest by the amount of principal borrowed. Interest rates are quoted on bills, notes, bonds, credit cards, and many kinds of consumer and business loans.", adapted from "Barron's Dictionary of Finance and Investment Terms, Ninth Edition, 2014.

    This is critical for both securities and IND and should be included in the FIBO FND 1.1 Specification, in addition to the changes required to support FBC.

  • Reported: EDMC-FIBO/FND 1.0 — Tue, 19 Jan 2016 18:42 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    A definition for rate is missing from FND/Utilities/Analytics, required to represent interest rate, payment rate, and market rate

    We need the definition of "rate" in IND, which should be a child of quantity in the quantities and units ontology, with a definition of "a quantity measured with respect to some other quantity", adapted from http://www.thefreedictionary.com/rate and http://www.icoachmath.com/math_dictionary/rate.html

    We also need a definition for "interest rate", which should be added to currency amount, as a child of rate (above) and monetary measure in currency amount, with the following definition: "a rate of interest charged for the use of money, usually expressed as an annual rate", with explanatory note "The rate is derived by dividing the amount of interest by the amount of principal borrowed. Interest rates are quoted on bills, notes, bonds, credit cards, and many kinds of consumer and business loans.", adapted from "Barron's Dictionary of Finance and Investment Terms, Ninth Edition, 2014.

    This is critical for both securities and IND and should be included in the FIBO FND 1.1 Specification, in addition to the changes required to support FBC.

    Additionally, the Securities specification requires a definition for price, currently missing in currency amount, that includes (1) a basic price, which could result in the exchange of money or something else, such as a financial instrument or something tangible (i.e., a service or other barter), (2) a monetary price, which is a price that involves the exchange of money for something, and (3) a calculated price, which is a price that involves a monetary amount that is calculated via a formula.

    This issue affects sections10.1.3, Analytics, 10.12.2 Currency Amount, and the new section 10.14, Quantities, which was added via the FIBO FBC RFC (adopted in December 2015). It requires that the revisions identified in resolutions to issues FIBOFND11-6, FIBOFND11-8, and FIBOFND11-10, which augment the FIBO FND specification with ontologies for Classification Schemes and Quantities, and revise the Currency Amount ontology to support ISO 4217 Currency Codes, have already been applied, in other words.

    The changes specified in this resolution are incremental, monotonic revisions (i.e., they preserves the set of axioms defined in the ontology in their entirety) to the specification, and thus will not have any negative downstream impact on the FND or other FIBO specifications.
    The changes to the Analytics ontology also correct a reasoning error uncovered during testing of the resolution to this issue, namely, elimination of the use of a custom datatype in favor of the equivalent XML Schema datatype.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

The currency code for the New Israeli Sheqel is misspelled in the ISO4217-CurrencyCodes ontology

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    The code for the ISO 4217 Currency as defined in the ISO4217-CurrencyCodes ontology is mispelled as "NewIsraeliShekel" and should be "NewIsraeliSheqel"

  • Reported: EDMC-FIBO/FND 1.0 — Mon, 11 Jan 2016 21:05 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    The currency code for the New Israeli Sheqel is misspelled in the ISO4217-CurrencyCodes ontology

    The code for the ISO 4217 Currency as defined in the ISO4217-CurrencyCodes ontology is mispelled as "NewIsraeliShekel" and should be "NewIsraeliSheqel"

    The correction for this issue affects machine-readable files only, and has no impact on the specification itself.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Revise Sections 8.1 and 8.2 of the Specification with additional changes made by FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    In addition to the issues including FIBOFND11-4 through FIBOFND11-14, a few minor text changes were incorporated via FBC, in section 6.4.9 of the FBC RFC. These include revision of Figure 8.1 and replacement of Table 8.2. This issue and the corresponding resolution capture those revisions.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 8 Jan 2016 00:32 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Revise Sections 8.1 and 8.2 of the Specification with additional changes made by FBC

    In addition to the issues including FIBOFND11-4 through FIBOFND11-14, a few minor text changes were incorporated via FBC, in section 6.4.9 of the FBC RFC. These include revision of Figure 8.1 and replacement of Table 8.2. This issue and the corresponding resolution capture those revisions.

    This issue affects section 8.2 Ontology Architecture and Namespaces only. It has no impact on any of the ontologies that comprise the FIBO FND specification.

    This resolution has no dependencies on any others in the RTF 1 report.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Revise the Legal Capacity Ontology as required by FIBO FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FBC extended the existing LegalCapacity ontology to cover licensing concepts for use in downstream FIBO ontologies, such as for operating licenses for banks. This issue and corresponding resolution integrate the changes to LegalCapacity defined in the FBC RFC into the FIBO FND specification.

  • Reported: EDMC-FIBO/FND 1.0 — Fri, 8 Jan 2016 00:08 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Revise the Legal Capacity Ontology as required by FIBO FBC

    FBC extended the existing LegalCapacity ontology to cover licensing concepts for use in downstream FIBO ontologies, such as for operating licenses for banks. This issue and corresponding resolution integrate the changes to LegalCapacity defined in the FBC RFC into the FIBO FND specification.

    This issue affects section 10.10.3 Ontology: Legal Capacity. The modifications are additive, i.e., this change represents new content for Foundations.

    This resolution is independent of other resolutions in the FND RTF 1.1 report.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Add a new Products and Services Module to FND as required by FIBO FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FBC integrated a new module, Products and Services, and two new ontologies, Payments and Schedules and Products and Services, for use in downstream FIBO ontologies, such as for defining financial products and ISDA schedules for derivatives payment streams. This issue and corresponding resolution integrates the module and ontologies defined in the FBC RFC into the FIBO FND specification.

  • Reported: EDMC-FIBO/FND 1.0 — Thu, 7 Jan 2016 23:13 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Add a new Products and Services Module to FND as required by FIBO FBC

    FBC integrated a new module, Products and Services, and two new ontologies, Payments and Schedules and Products and Services, for use in downstream FIBO ontologies, such as for defining financial products and ISDA schedules for derivatives payment streams. This issue and corresponding resolution integrates the module and ontologies defined in the FBC RFC into the FIBO FND specification.

    This issue affects sections 8.2 Ontology Architecture and Namespaces, and introduces a new section 10.15, Products and Services. The modifications defined herein are additive, i.e., this is all new content for Foundations.

    This resolution depends on the resolution of issue FIBOFND11-10.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Revise the Currency Amount Ontology and add ISO Currency Codes as required by FIBO FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FBC extended the existing CurrencyAmount ontology and added a new ontology, ISO4217-CurrencyCodes, containing individuals representing all of the ISO currency codes as of August 30, 2015, for use in downstream FIBO ontologies, such as for defining currency-based instruments, interest rates, etc. This issue and corresponding resolution integrate the changes to CurrencyAmount and new ontology (machine readable files only) defined in the FBC RFC into the FIBO FND specification.

  • Reported: EDMC-FIBO/FND 1.0 — Thu, 7 Jan 2016 21:45 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Revise the Currency Amount Ontology and add ISO Currency Codes as required by FIBO FBC

    FBC extended the existing CurrencyAmount ontology and added a new ontology, ISO4217-CurrencyCodes, containing individuals representing all of the ISO currency codes as of August 30, 2015, for use in downstream FIBO ontologies, such as for defining currency-based instruments, interest rates, etc. This issue and corresponding resolution integrate the changes to CurrencyAmount and new ontology (machine-readable files only for the codes themselves) defined in the FBC RFC into the FIBO FND specification.

    This issue affects sections 3.1, Normative References, 8.2 Ontology Architecture and Namespaces and 10.12.2 Ontology: CurrencyAmount. The modifications are additive, i.e., this change represents new content for Foundations. In addition to the specification changes as noted, the resolution adds a new set of machine readable files for the currency codes themselves.

    This resolution depends on the resolution of issue FIBOFND11-8.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Add a new Quantities and Units Ontology to FND as required by FIBO FBC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FBC integrated a new module, Quantities, and a new ontology, Quantities and Units, for use in downstream FIBO ontologies, such as for defining commodities. This issue and corresponding resolution integrate the module and ontology defined in the FBC RFC into the FIBO FND specification.

  • Reported: EDMC-FIBO/FND 1.0 — Thu, 7 Jan 2016 20:05 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Add a new Quantities and Units Ontology to FND as required by FIBO FBC

    FBC integrated a new module, Quantities, and a new ontology, Quantities and Units, for use in downstream FIBO ontologies, such as for defining commodities. This issue and corresponding resolution integrate the module and ontology defined in the FBC RFC into the FIBO FND specification.

    This issue affects sections 8.2 Ontology Architecture and Namespaces, and introduces a new section 10.14, Quantities.

    The modifications defined herein are entirely additive, i.e., this is all new content for Foundations.

    This resolution depends on the resolution of issue FIBOFND11-6.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Add a new Classification Schemes ontology to FND as required by the FBC RFC

  • Status: closed  
  • Source: Thematix Partners LLC ( Elisa Kendall)
  • Summary:

    FBC integrated a new ontology, Classification Schemes, for use in classifying organizations, financial instruments, and other concepts via standard schemes such as the NAICS industry sector classification scheme and ISO 10962 classification scheme for financial instruments. This issue and corresponding resolution integrate the ontology defined in the FBC RFC into the FIBO FND specification.

  • Reported: EDMC-FIBO/FND 1.0 — Tue, 5 Jan 2016 20:25 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    Add a new Classification Schemes ontology to FND as required by the FBC RFC

    FBC integrated a new ontology, Classification Schemes, for use in classifying organizations, financial instruments, and other concepts via standard schemes such as the NAICS industry sector classification scheme and ISO 10962 classification scheme for financial instruments. This issue and corresponding resolution integrate the ontology defined in the FBC RFC into the FIBO FND specification.

    This issue affects sections 3.2 Non-Normative References, 8.2 Ontology Architecture and Namespaces, and introduces a new section 10.5.2 Classification Schemes.

    The modifications defined herein are entirely additive, i.e., this is all new content for Foundations.

  • Updated: Tue, 12 Jul 2016 14:46 GMT
  • Attachments:

Inability to import UML-XMI files into generic UML

  • Status: closed  
  • Source: EDM Council ( Dennis Wisnosky)
  • Summary:

    Terms_Agreement: I agree
    First_Name: John
    Last_Name: Gemski
    Email: jgemski@thegoldensource.com
    Company: GoldenSource Corp
    CODE: OMG621
    B1: Submit

    Comments:

    The xml files contained in "Updated UML-XMI for Foundations" (finance-13-09-06.zip) cannot be imported into our UML tools. We tried Visual Paradigm and Erwin and got the same results. Only the class name was imported.

  • Reported: EDMC-FIBO/FND 1.0b1 — Fri, 21 Feb 2014 19:46 GMT
  • Disposition: Deferred — EDMC-FIBO/FND 1.1
  • Disposition Summary:

    This issue has several potential solutions that have not been resolved.

    The FIBO Leadership Team will discuss this and come to a conclusion at the March 2016 OMG Technical meeting in Reston, VA.

  • Updated: Tue, 12 Jul 2016 14:46 GMT