The group defines data structures for common financial objects, so that they can be shared in a standard format on Symphony and in other applications.The objects will be defined in EntityJSON, the data format for representing structured objects in Symphony messages using the new Message ML 2.0 format. For each standard there will be examples as well as a validator to ensure ease of use.
The standards should be embraced by the members' organisation so the group is emphasizing unanimity as much as possible when it comes to ratification. Once an object definition is proposed and a there's a general agreement for it during a meeting - a vote is issued via the Mailing List and a simple majority is required to make it a standard.
If you're a member of the Foundation and would like to participate in this working group, please send an email to Aaron Williamson. We'll invite you to the next meeting and add you to the mailing list.
The Financial Objects Standardization Working Group is tasked to develop standard patterns of usage and representation to facilitate financial interactions involving humans through the Symphony platform.
The Working Group shall not define new standards to represent financial interactions per se, but will develop profiles and patterns of usage to facilitate the interworking between participants in different enterprises across both front and back office areas, reusing existing standards where appropriate, by allowing these rich entities to be the center of cross institution collaboration.
Fosters ongoing collaboration between stakeholders on standard patterns of usage and representation of financial objects.