FIGI — CP Designation Process

Raised by Tom Rutt:

1 allocation of CP and prefixes: How will the OMG make its derisions to accept a new CP? Any such work would require OMG staff funding or TF volunteer efforts. How would disputes over rejected requests to become a CP be resolved?

CP Designation Process

Add a section to Appendeix B, section 3 as that specifies the process by which Certified Providers (CP) are designated:

Certified Providers are self-identified and nominated (self-nomination included) as potential Certified Providers to both the OMG Finance Domain Task Force and the RA. A committee consisting of at least one representative from the RA and at least one OMG member organization that is not the RA (CP evaluation committee) will evaluate the nomination of the CP according to the following criteria:
1. Does the potential CP have the necessary infrastructure in place or in a funded, scheduled infrastructure project that is sufficient to:
a. Scalably store and maintain the repository necessary to provide FIGIs?
b. Scalably, and with sufficient redundancy, provide only access to the FIGIs it creates?
c. Provide a sufficiently robust API interface to support the registration of new FIGIs and related items?
2. Is the potential CP committed to providing the above services in perpetuity with no restrictions on redistribution and absolutely no charge to any potential user or organization?
The CP evaluation committee will issue their response to the application within six (6) months/two OMG meetings of the completed application being presented to the Finance Domain Task Force at an OMG meeting. The response will provide appropriate documentation explaining why the decision was made as it was if the outcome is not positive. In the event of a negative outcome, the potential CP is free to reapply for CP status anytime in the future through the above process.