Convene & roll call

Introduction of Equity OTC Use Case

Update on new Use Cases from FDC3 program

Johan was unable to make the meeting. Johan was also going to address case sensitivity 

Rob Underwood (Deactivated), Hammad Akbar, and Johan Sandersson to debrief on this topic. 

Update from Meeting with ISDA

• ISDA working on common domain model. FINOS asked them to consider open sourcing model.  
• Were able to get into more specifics
• FINOS wants use cases, ISDA wants standard swaps & derivatives
• Focused on how governance works, how they get feedback, etc.
• Productive meeting & there will be follow ups
• Discussed ISDA could contribute interest rates swaps model to FO WG
• This is great opportunity to promote standards

Tosha input:

• Would have to agree on open source ethos and align it with the governance ISDA feels they must have

• Didn’t seem ISDA was as concerned about use cases & adoption.  Their focus is to get it done. So they would see benefit from FO WG putting practical element to their work.

• ISDA does have taxonomy but each bank probably has their own and FINOS could gather info for common taxonomy.  That’s probably “good enough” and doesn’t have to be re-invented.

Object Repository - Update

• A tool/method for product manager/functional analysts/business people to be able to develop/iterate on/version/release financial objects. This tool should allow a non-technical analyst to define strongly typed objects, relationships between objects (an ERD light of sorts), and documentation, using a human-readable folder/file structure. The tool should be "git/github/gitlab friendly" and allow for branching, forking, etc. of object definitions (e.g., business analysts should be able to fork and extend definitions just as a developer would, optionally doing a pull request to submit back their modifications). The modeling tool should be technology agnostic (or at at minimum a format that can be translated to other languages easily)
  
  
• A process and supporting tooling by which those objects defined by business analysts are versioned, released, and distributed as type definitions (or the language equivalent that defines the shapes of data) that a JS (via NPM), Java (via Maven), Python (via PIP), or .Net developer (via NuGet) could import into their projects and have available in their IDEs.
  
  
• Hammad's Add: Discoverability and searchability – i.e,. the object repository itself

What do member/contributor firms use for modeling?

A member commented that something could easily integrated into other tools would be helpful

Rob asked the team for input on the definitions of what a product, instrument, security and how those relate each other – Hammad wondered if there was a source that we could go to such as ISDA. Tosha commented that ISDA definitions are likely derivative focused. Tosha also suggested ISO. 

AOB & adjourn

Hammad Akbar