FIBO Foundations Avatar
  1. OMG Specification

FIBO Foundations — Closed Issues

  • Acronym: EDMC-FIBO/FND
  • Issues Count: 25
  • Description: Issues resolved by a task force and approved by Board
Closed All
Issues resolved by a task force and approved by Board

Issues Summary

Key Issue Reported Fixed Disposition Status
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
FIBOFND11-4 Correct errors, including section references, in the conformance section of the specification EDMC-FIBO/FND 1.0 EDMC-FIBO/FND 1.1 Resolved closed
FIBOFND11-3 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
FIBOFND11-26 Incorrect XML file locations in specification cover pages, and incorrectliy listed About files 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
FIBOFND11-58 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
FIBOFND11-27 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
FIBOFND11-6 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
FIBOFND11-20 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
FIBOFND11-14 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
FIBOFND11-16 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
FIBOFND11-18 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
FIBOFND11-1 Inability to import UML-XMI files into generic UML EDMC-FIBO/FND 1.0b1 EDMC-FIBO/FND 1.1 Deferred closed

Issues Descriptions

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:

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

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:

Incorrect XML file locations in specification cover pages, and incorrectliy listed About files


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:

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:

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:

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:

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:

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:

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:

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:

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