1. OMG Issue

FIBOFTF2 — Integrate Financial Dates ontology into FIBO FND Utilities Module

  • Key: FIBOFTF2-22
  • Status: closed  
  • Source: Thematix Partners LLC ( Mrs. Elisa F. Kendall)
  • Summary:

    The FIBO SEC/Securities specification requires concepts related to financial dates and schedules. The concepts required, including adjustable dates and schedules to cover payments, interest schedules and so forth, are not covered by the OMG's Date Time Vocabulary (DTV) specification, nor are they available in the well-known OWL Time ontology.

    The Financial Dates ontology, derived in part from analysis of FpML and related XML standards, was developed specifically to support the requisite terminology and has been tested on basic use cases including, but not limited to, interest rate swaps and other ontologies from FIBO SEC/Securites and DER/DerivativesContracts. It also covers concepts originally in the "out of scope" semantics repository Time module. This ontology and related concepts should be integrated either into the Utilities module in foundations or a parallel Time module, as determined by the FTF.

  • Reported: EDMC-FIBO/FND 1.0b1 — Tue, 23 Sep 2014 18:44 GMT
  • Disposition: Resolved — EDMC-FIBO/FND 1.0
  • Disposition Summary:

    Additions in Countries; Addition of DatesAndTimes module and 3 ontologies

    The following changes are to be made in the model. The corresponding diagrams and tables are generated from the model and are described in the section which follows.
    A. Modifications to the model elements specified in the Countries Ontology
    1. Add two new classes to the FIBO FND Places/Countries ontology: Municipality, as a child of GeopoliticalEntity, and BusinessCenter, as a child of Municipality.

    2. The skos:definition for Municipality should be “an urban administrative division having corporate status and usually powers of self-government or jurisdiction”, with fibo-fnd-utl-av:explanatoryNote of “A municipality is a general-purpose administrative subdivision, as opposed to a special-purpose district.”, and skos:example of “A municipality can be any political jurisdiction from a sovereign state, such as the Principality of Monaco, or a small village, such as West Hampton Dunes, New York.”. An additional skos:scopeNote should read, “The territory over which a municipality has jurisdiction may encompass:

    • only one populated place such as a city, town, or village
    • several of such places (e.g., early jurisdictions in the state of New Jersey (1798-1899) as townships governing several villages, Municipalities of Mexico)
    • only parts of such places, sometimes boroughs of a city such as the 34 municipalities of Santiago, Chile.”
      The fibo-fnd-utl-av:adaptedFrom property should have a value of “http://en.wikipedia.org/wiki/Municipality”.
      3. The skos:definition for BusinessCenter should be “a municipality where business is conducted, especially one that is considered a financial center”, with fibo-fnd-utl-av:adaptedFrom of “FpML Business Center and related codes, see http://www.fpml.org/coding-scheme/business-center-7-14.xml”.
      B. Insert a new Module: Dates and Times, with three new ontologies: FinancialDates, Occurrences, and BusinessDates.
       Add a new “About” file with the module metadata, including the module abbreviation fibo-fnd-dt
       Update the specification metadata in the specification About file(s) to include references to the new module and ontologies.
  • Updated: Tue, 21 Apr 2015 01:18 GMT
  • Attachments: