FIBOIND_ — Interest rates and exchange rates should be moved to a higher level of abstraction

Currently, IND includes a hierarchy as follows:
Measure (from FND/Utilities/Analytics)
– MarketRate
---- ExchangeRate
---- ReferenceRate
– Statistical Measure (from FND/Utilities/Analytics)
---- EconomicIndicator
---- MarketSpread
---- Volatility
ReferenceRate has children that are all kinds of interest rates, but there is no higher level interest rate class since most interest rates are not reference rates, and certain exchange rates can also be reference rates, but not all are reference rates.

What is needed is to create (1) a high-level class called Rate as a child of Measure, (2) children of Rate that include InterestRate, ExchangeRate, MarketRate, and ReferenceRate, and (3) in cases where the relevant rates are also reference rates, make them children of ReferenceRate and/or add a property that indicates that a given Rate is in fact a reference rate.

This issue has been partially addressed in FIBO FND 1.1, wherein a new Rate class as well as higher level classes for InterestRate and ExchangeRate have been added, but the IND ontologies need revision to take advantage of these modifications.

Interest rates and exchange rates should be moved to a higher level of abstraction

Currently, IND includes a hierarchy as follows:
Measure (from FND/Utilities/Analytics)
– MarketRate
---- ExchangeRate
---- ReferenceRate
– Statistical Measure (from FND/Utilities/Analytics)
---- EconomicIndicator
---- MarketSpread
---- Volatility

ReferenceRate has children that are all kinds of interest rates, but there is no higher level interest rate class since most interest rates are not reference rates, and certain exchange rates can also be reference rates, but not all are reference rates.

What is needed is to create (1) a high-level class called Rate as a child of Measure, (2) children of Rate that include InterestRate, ExchangeRate, MarketRate, and ReferenceRate, and (3) in cases where the relevant rates are also reference rates, make them children of ReferenceRate and/or add a property that indicates that a given Rate is in fact a reference rate.

This issue was partially addressed in the FIBO FND 1.1 specification, with the addition of Rate, InterestRate, and ExchangeRate, but the corresponding revisions are needed in the FIBO IND specification.