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This website is designed to display the material in the EDM Council Financial Industry Business Ontology, in a range of business facing formats, namely spreadsheets and technology-neutral diagrams. These are generated from an underlying repository.
The material is organized into sections as shown in the menu in the left panel. At the time of writing, sections of this repository content are being updated at a technical level so they may be submitted through the Object Management Group as formal standards proposals. The first of these is FIBO Business Entities, for which draft material is available.
For a detailed account of what FIBO is, how it has been built, how it may be used and so on, please refer to the section headings below and the detailed material under the tabs shown above - these will be updated with more explanatory material over the coming days and weeks, as we seek to help you put this model to practical use.
The current draft FIBO model content for Business Entities exists in RDF/OWL format, as well as in the current EA-based UML repository format. These are still very much a work in progress and have not yet been delivered as part of the OMG standardization process, so these are not yet publicly available. We would be happy to share these with those who are working closely with us to complete these deliverables. Please note that the RDF/OWL versions are not the same as operational ontologies for semantic technology applications.
Please see the Latest Monthly Update (August 2012) for full details and roadmap.
This website provides a partial report of sections of the Financial Industry Business Ontology (FIBO). This is being submitted into the Object Management Group (OMG)TM as a set of proposed standard ontologies under the FIBO umbrella. The first of these is FIBO for Business Entities, along with a foundational specification which sets out the modeling details and provides some foundational semantic terms based on the "Global Terms" material shown here.
Alongside the FIBO OMG specifications, we aim to release one or more "Operational Ontologies" which demonstrate the ontology content being applied to semantic technology applications.
Coming Soon: detailed explanatory material, presentations, pointers on how you can get involved and how you can make practical use of the FIBO material.
Please note that all current work is ongoing using the modeling tool and many sections of this web interface are not up to date.
To view the current model, please navigate to the repository file which can be downloaded in the Downloads section.
You may also download a free viewer at that page
In recent months most of our work has been taking place within the OMG working groups, where for example we have added a considerable amount of formal annotation material for consumption by semantic web applications. We have also significantly revised the modular structure of those ontologies which are being submitted as FIBO specifications, in order to make operatonal deployment of semantic trechnology applications easier. This structure is not reflected in the current website, which aims to provide a more business-centric view of the subject matter. For this reason, as we upload fresh material to this site, please bear in mind that it is only a partial view of the subject matter and does not reflect the modular structure of the material.
Coming soon: a more detailed set of sections in the Business Entities section, showing each of the separate sections of the model with selected diagrams of the content of each section.
The goal of the EDM Councils Semantics Repository is to standardize the terms and definitions of all reference data attributes stored in the master files of financial institutions and passed among supply chain partners. Precise nomenclature translates into a common language between systems and sources, reduces the cost of doing business, and promotes confidence in data among business users. It is at the foundation of effective data management and an essential building block for business process automation.
A by-product of the way in which we have approached this task, is that parts of the Semantic Repository content may be expressed in RDF/OWL as discrete "Operational Ontologies". These operational ontologies may be used in semantic technology applications, for example to automatically classify some set of derivatives according to their properties, or to query over multiple types of information (contracts plus legal entities for example) using semantic queries.
Review meetings were held weekly over some four years (2008 - 2011)to work our way through the terms/definitions within the repository, field questions and make adjustments to our conceptual model. This was our mechanism for ensuring that the content of the models reflects a financial industry business view of the world and is not limited to the knowledge of any one modeler or group of modelers. A separate set of calls took place on alternate Thursdays for Loans during 2010 / 11.
Since March 2011 the EDM Council has been working in conjunction with the Object Management Group to package sections of this Semantics Repository material and submit it as proposed formal standards specifications under the FIBO umbrella.
The work is very technical in nature. All are welcome to participate. The work is divided into two broad areas:
For how details of current and future sessions, and detailed notes of the sessions to date please refer to the FDTF working wiki. All are welcome to participate.
The notes below show the detailed workings of the business subject matter expert review sessions for each part of the FIBO business content.
most recent first
Earlier review session notes are now available in zipped up archive form. Individual notes may also be found in the instruments sections in the model structure.
Original (first pass) Static Reference data terms review sessions, all Tradable Securities. Also Business and Legal Entites.