Releases: edmcouncil/fibo
Q4 2025 Release
Q4 2025 Release Notes
Q4 2025 Revisions Summary
This quarter we continued work to clean up the funds area, and have recruited domain expertise from a number of large and medium sized funds to help us make progress starting in January. After significant discussion, we added and/or moved a number of roles around and redefined them, mainly from the CIV ontology to the Funds ontology. Others were removed after confirming with our expert SMEs that the terms were not commonly used. We also addressed a number of smaller issues, including some raised by FIBO users related to goals and business objectives. We also updated the ISO MIC codes in FBC as usual. The detailed changes made this quarter are highlighted below.
Note that a number of deprecated concepts were eliminated in this release, notably those associated with the OMG Commons 1.2 revision. New terms from the Commons 1.3 revision were integrated into FIBO in Q4, which resulted in additional deprecations. Users should be aware of this change when downloading and integrating the FIBO Q4 release.
Business Entities (BE)
In Q4, several issue resolutions touched on the Business Entities domain area. The primary modification to BE involved combining the Corporations ontology into Corporate Bodies, deprecating the remaining elements in Corporations. These deprecated elements will be maintained for at least 3 quarters before they are eliminated entirely, however. Roles related to fund management that were more general, such as external auditor, were added to BE. A number of EU-specific government entities were added based on requirements from FIBO users. A few remaining uses of hasJurisdiction from BE GovernmentEntities were replaced with their equivalent now in Commons 1.3, and revisions to reflect the changes published in OMG's Commons 1.3 library were also made. Finally, some elements deprecated with the changes made in Commons 1.2 over a year ago were removed.
Business Process Domain (BP)
No changes were made to the Business Process Domain in Q4 2025.
Corporate Action and Events Domain (CAE)
Primary changes made to the CAE domain in Q4 involved additional clean up of the CIV ontology, merging some concepts into Funds as appropriate.
Derivatives (DER)
Limited changes were made to the Derivatives Domain area this quarter, including addressing issues related to merging Corporations into Corporate Bodies and clean-up of old deprecations.
Financial Business and Commerce (FBC)
In Q4, changes to the FBC ontologies included addressing issues related to merging Corporations into Corporate Bodies, clean-up of a few remaining uses of hasJurisdiction from BE GovernmentEntities, clean-up of old deprecations, and integration of content now available in Commons 1.3. We also updated the ISO MIC codes to reflect the latest revision (i.e., December 2025).
Foundations (FND)
This quarter new concepts were added to the Goals and Objectives ontologies including aim and approach as parents of certain subclasses as well as the notion of a study, per FIBO user request. We also cleaned-up old deprecations, and integrated content now available in Commons 1.3, such as sites and facilities.
Indicators and Indices (IND)
The primary change to IND in Q4 involved replacing elements from Corporations with their equivalent in Corporate Bodies. We also cleared out a few old deprecations this quarter.
Loans (LOAN)
In Q4, changes to the LOAN domain area include cleaning-up old deprecations, and integrating content now available in Commons 1.3. Some of the new content in Commons impacted definitions for sites and facilities in FND as well as real property, which certain real estate related loans depend on.
Market Data Domain (MD)
No changes were made to the Market Data Domain in Q4 2025.
Securities (SEC)
In Q4, changes to the Securities ontologies included addressing issues related to merging Corporations into Corporate Bodies, clean-up of a few remaining uses of hasJurisdiction from BE GovernmentEntities, clean-up of old deprecations, and integration of content now available in Commons 1.3. We also continued clean up work related to funds, including integration of new roles in the funds ontology and the addition of external auditor to BE.
What's Changed
- BE-259 - Pointless and unclear differentiation between CorporateBodies and Corporations by @ElisaKendall in #2177
- BE-262 - Need to add EU government entities in support of IDMP-O and other projects such as the retail industry ontology by @ElisaKendall in #2180
- SEC-213 - Include fund manager, fund administrator, and external auditor as roles that apply to funds by @ElisaKendall in #2182
- FND-399 - Revise FIBO ontologies to eliminate deprecations that are more than 3 quarters old by @ElisaKendall in #2185
- FND-401 - Update FIBO to incorporate ontologies added in Commons 1.3 by @ElisaKendall in #2188
- FND-402 - Introduce a parent concept for goal and objective by @ElisaKendall in #2191
- FND-400 - Need the concept of a study by @ElisaKendall in #2193
- FBC-340 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2194
Full Changelog: master_2025Q3...master_2025Q4
Contributors
Assets 2
Q3 2025 Release
Q3 2025 Release Notes
Q3 2025 Revisions Summary
The primary areas of work in Q3 affect the Securities (SEC) and Derivatives (DER) domain areas. This quarter we initiated work to clean up the CIV ontology under SEC/Funds. Some constructs were moved to higher-level areas in FIBO, and redundancies were eliminated. We also reviewed a number of Derivatives ontologies, warrants in particular, and extended / improved the representation of certain contract types. We also updated the ISO MIC codes in FBC as usual. The detailed changes made this quarter are highlighted below.
Note that a number of concepts were deprecated at the end of 2024 due to integration with the OMG Commons 1.2 revision. Many of these will be eliminated in the Q4 update, and new terms from the Commons 1.3 revision will be integrated into FIBO, which may result in additional deprecations. Users should be aware of this change when downloading and integrating the FIBO Q4 release at the end of the year.
Business Entities (BE)
Changes to BE in Q3 included improved consistency with respect to the use of some properties, revisions to the representation of beneficial ownership based on feedback, and incorporation of terms that were originally in the CIV ontology but were more broadly applicable.
Business Process Domain (BP)
There were no changes to the BP domain area in Q3 2025.
Corporate Action and Events Domain (CAE)
There were no revisions related to corporate actions this quarter. We anticipate resuming work on the ACTUS and ISO 20022 controlled vocabularies for corporate actions over the coming months, however.
Derivatives (DER)
Several issue resolutions focused on entitlements this quarter. Based on review of the ACTUS terms related to warrants and other use cases, we've made significant improvements to their representation. Updates focused on bonds with warrants, equity warrants, structured and exotic warrants, and related concepts. Some explanatory material was added to distinguish futures from forwards as well.
Financial Business and Commerce (FBC)
A few issues touched on FBC in Q3, mainly in the context of cleaning up or promoting material from the CIV ontology. The primary contribution to the FBC domain in Q3 is an update to the ISO MIC codes.
Foundations (FND)
Changes to the Foundations domain in Q3 include promotion of a few constructs due to the changes made in other domain areas, and the addition of contact, contact record, and related properties to the People ontology.
Indicators and Indices (IND)
There were no changes to the IND domain area in Q3 2025.
Loans (LOAN)
There were no changes to the LOAN domain area in Q3 2025. We anticipate that additional changes will be made to LOANs as we integrate the ACTUS data dictionary, however.
Market Data Domain (MD)
There were no changes to the MD domain area in Q3 2025.
Securities (SEC)
Major changes to the SEC domain area in Q3 were focused on the SEC/Funds ontologies, including but not limited to cleaning up the CIV ontology. We anticipate continuing our funds related efforts over the coming months, as well as shifting gears to begin cleaning up and integrating additional SEC/Debt ontologies, such as CLOs, CDOs, CMOs and the like.
What's Changed
- GitHub-2140 - Broken import in example ontology on FIBO master branch by @ElisaKendall in #2141
- FND-396 - 43 incorrect uses of hasConstituent across FIBO by @ElisaKendall in #2143
- SEC-207 - Bond with warrant is defined as an offering without links to the bond or related warrant by @ElisaKendall in #2145
- DER-150 - EquityWarrant should inherit from CallWarrant by @ElisaKendall in #2148
- SEC-202 - Clean up the definition of beneficial ownership by @ElisaKendall in #2149
- DER-151 - No property to represent the number of shares in an EquityWarrant by @ElisaKendall in #2151
- DER-148 - Need to better distinguish futures from forwards by @ElisaKendall in #2153
- GitHub-2154 - Problem with HAS ANTICIPATED NUMBER OF PAYMENTS by @ElisaKendall in #2155
- DER-152 - Missing the concept of a structured warrant by @ElisaKendall in #2157
- DER-153 - Missing the concept of an exotic warrant by @ElisaKendall in #2159
- SEC-200 - Clean-up the CIV ontology in SEC/Funds in order to leverage it for use in describing various kinds of more complex instruments, such as CDOs by @ElisaKendall in #2161
- SEC-200a - Continue to clean up the CIV ontology in SEC/Funds in order to leverage it for use in describing various kinds of more complex instruments, such as CDOs by @ElisaKendall in #2163
- SEC-208 - SEC: Include nonprofit and community investment funds in CIV by @ElisaKendall in #2166
- FND-397 - Need the ability to represent the concept of a contact by @ElisaKendall in #2168
- FBC-337 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2170
- FBC-338 - Not all FIBO ontologies were updated to use the new Commons definition of hasJurisdiction, which should be corrected by @ElisaKendall in #2172
- SEC-205 - There is some sort of logic error in the securities identification individuals ontology by @ElisaKendall in #2131
Full Changelog: master_2025Q2...master_2025Q3
Contributors
Assets 2
Q2 2025 Release
Q2 2025 Release Notes
Q2 2025 Revisions Summary
The primary areas of work in Q2 affect the Derivatives (DER), Foundations (FND) and Loans (LOAN) domain areas. We released the Derivatives Master Agreements ontology in DER, after significant clean-up and migration of some concepts and properties to other, higher-level domain areas in FIBO, added a new, provisional Cash Flows ontology to FND, and released the Green Loans ontology in the LOAN domain. We also updated the ISO MIC codes in FBC as usual. The detailed changes made this quarter are highlighted below.
Business Entities (BE)
This quarter there were minor revisions to BE ontologies, primarily related to master agreements.
Business Process Domain (BP)
There were no changes to the BP domain area in Q2 2025.
Corporate Action and Events Domain (CAE)
There were no revisions related to corporate actions this quarter. We anticipate resuming work on the ACTUS and ISO 20022 controlled vocabularies for corporate actions over the coming months, however.
Derivatives (DER)
The most significant change to the Derivatives domain area in Q2 was related to derivatives master agreements, which we've now released. Many of the terms in that ontology were more general, and have been moved to contracts or other higher level ontologies in FIBO. The resultant ontology is much smaller than it originally was, but further work to integrate the relevant provisions and other details for an ISDA master agreement template maybe done in subsequent iterations, depending on stakeholder requirements. FIBO users that have an interest in this area are welcome to contact the development team.
We also touched some of the DER ontologies when addressing other clean-up issues or while working on the ACTUS taxonomy. These include minor revisions to options, structured instruments, currency contracts, and derivatives basics, as well as a couple of the rate-based derivatives ontologies.
Financial Business and Commerce (FBC)
Most of the changes to FBC this quarter involved minor revisions to incorporate concepts needed to support the ACTUS taxonomy effort or to address issues uncovered while addressing other things in SEC or DER, mainly involving loosening constraints in a few cases, and eliminating redundancies related to contract representation. The primary contribution to the FBC domain in Q2 is an update to the ISO MIC codes.
Foundations (FND)
A number of significant changes were made to the Foundations domain in Q2. These include
(1) the addition of a new CashFlows ontology to the Accounting area, which is still provisional, but needed to define the ACTUS taxonomy,
(2) the addition of bilateral and multilateral agreement to the agreements ontology, which was also refined to eliminate other redundancies,
(3) the addition of a number of provisions related to netting and improved linking between beneficiaries and contracts in the contracts ontology,
(4) additions to legal capacity for certain contractual obligations, and
(5) normalization of obligations related to payments and hierarchy simplification related to products and services.
More changes along these lines are likely as we move forward to map the ACTUS data dictionary terms to terms in FIBO, all related to cash flow analysis.
Indicators and Indices (IND)
There were no changes to the IND domain area in Q2 2025.
Loans (LOAN)
The primary change to the LOAN domain in Q2 was the initial release of the Green Loans ontology. This represents a first pass for concepts related to green, sustainability-linked, and transition loans, but is significant in that we have tested it with FIBO partners to prove that it works for some number of use cases and for mapping to KPIs that may impact interest rates, collateral requirements, or other related concepts when improvements meet milestones (or don't). The other minor change made to loans this quarter was to move the property 'has credit limit' from LOAN to FBC to make it more broadly available for any credit agreement.
Market Data Domain (MD)
There were no changes to the MD domain area in Q2 2025.
Securities (SEC)
Minor changes to the SEC domain area in Q2 include clean-up of some redundancies that could cause performance issues, and elimination of a logic issue in the Pools ontology.
What's Changed
- DER-55 - Potential issues with the DerivativesMasterAgreements ontology by @ElisaKendall in #2122
- DER-55a - Potential issues with the DerivativesMasterAgreements ontology by @ElisaKendall in #2124
- FND-391 - The class 'mutual contractual agreement' seems unnecessary by @ElisaKendall in #2126
- SEC-204 - There is some sort of logic issue in the Pools ontology by @ElisaKendall in #2128
- SEC-201 - Additional terms from the ACTUS controlled vocabulary and mapping is needed to enable FIBO to be used as its underlying data fabric by @ElisaKendall in #2133
- DER-55b - Potential issues with the DerivativesMasterAgreements ontology by @ElisaKendall in #2135
- SEC-201a - Continued refinement of ACTUS cash flow representation by @ElisaKendall in #2134
- FBC-335 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2137
Full Changelog: master_2025Q1...master_2025Q2
Contributors
Assets 2
Q1 2025 Release
Q1 2025 Release Notes
Q1 2025 Revisions Summary
In Q1 we made extensive changes that touched many individual ontologies in FIBO by integrating the latest additions to the OMG's Commons Ontology Library via version 1.2. Four ontologies were added to the library: (1) Locations, which replaces the contents in the FIBO/FND/Places/Locations ontology, (2) Organizations, which replaces all of the contents of the FIBO/FND/Organizations/Organizations ontology and some classes in both FIBO/FND/Organizations/FormalOrganizations and FIBO/BE/LegalEntities/LegalPersons as well as properties throughout FIBO, (3) RegistrationAuthorities, which replaces the FIBO/FBC/FunctionalEntities/RegistrationAuthorities ontology in its entirety, and (4) RegulatoryAgencies, which replaces some of the content in the FIBO/FBC/FunctionalEntities/RegulatoryAgencies ontology though not all. A mapping describing the changes, from FIBO to the Commons ontologies, is underway, available on the FIBO/Foundations wiki at https://dil-edmcouncil.atlassian.net/wiki/spaces/FND/pages/252346395/Mapping+concepts+from+the+OMG+Commons+Ontology+Library+v1.2+to+FIBO. We anticipate completion by mid-April 2025. Note that deprecated elements will remain in FIBO for a minimum of 6 months, and likely for 9 to 12 months.
Other major updates included normalization of patterns related to how we specify underliers, reconciliation of terminology for business day adjustment and business day convention, adding support for the ISO 4914 Unique Product Identifier (UPI), and adding terminology to support definitions of 'private fund', 'private credit fund', and 'private equity fund' in advance of building out additional content related to private funds over the coming months.
Business Entities (BE)
The primarily changes to the Business Entities domain this quarter involved integrating the latest additions to the OMG Commons Ontology Library v1.2, deprecating duplicate content. Note that classes including LegalPerson and LegalEntity moved to the Commons organizations ontology, which had fairly widespread impact in BE and elsewhere in FIBO. This makes these classes much more broadly useful for work in non-financial domain ontologies however, and simplifies mapping across ontologies that reuse the Commons definitions.
Business Process Domain (BP)
Updates to the BP domain this quarter involved integrating the latest additions to the OMG Commons Ontology Library v1.2.
Corporate Action and Events Domain (CAE)
The primarily updates to the CAE ontologies this quarter involved integrating the latest additions to the OMG Commons Ontology Library v1.2.
Derivatives (DER)
This quarter we addressed a number of issues in Derivatives that had been on our plate for some time, such as (1) adding new concepts and semantics for over-the-counter derivatives and the ISO 4914 Unique Product Identifier (UPI), (2) reconciled terminology for business day adjustment with business day convention (favoring convention as used in a number of other standards), and (3) normalized the patterns and terminology related to underliers. We also integrated the latest additions to the OMG Commons Ontology Library v1.2.
Financial Business and Commerce (FBC)
In Q1, we (1) integrated the latest additions to the OMG Commons Ontology Library v1.2, including FBC's registration authorities and regulatory agencies ontologies, deprecating duplicate content, (2) reconciled terminology for business day adjustment with business day convention (favoring convention as used in a number of other standards), (3) moved the property 'has credit limit' to FBC to make it more broadly available for use with respect to credit facilities in addition to loans, (4) revised the definition of position to normalize it with other related definitions, such as shareholding, and (5) updated the ISO MIC codes to reflect the latest revisions from ISO. We also corrected minor spelling issues in definitions and ontology prefixes for jurisdictions.
Foundations (FND)
This quarter, we (1) integrated the latest additions to the OMG Commons Ontology Library v1.2, including the locations and organizations ontologies from an FND perspective, deprecating duplicate content, (2) reconciled terminology for business day adjustment with business day convention (favoring convention as used in a number of other standards), and (3) augmented the assessments ontology to include definitions for the general notion of value, and extended it to cover 'expected value', 'fair value', 'market value', 'observed value', 'present value', 'qualitative value', 'quantitative value' and 'reference value', as we move towards better support for market data and valuation more generally (integrated with DER-112 as it was needed for normalizing patterns related to underliers,
Indicators and Indices (IND)
IND ontologies were revised in Q1 to (1) integrate the latest additions to the OMG Commons Ontology Library v1.2, and (2) reconciled terminology for business day adjustment with business day convention (favoring convention as used in a number of other standards).
Loans (LOAN)
The main revisions to the LOANS domain in Q1 include (1) integrating the latest additions to the OMG Commons Ontology Library v1.2, and (2) moving the property 'has credit limit' to FBC to make it more broadly available for use with respect to credit facilities in addition to loans.
Market Data Domain (MD)
The primarily updates to the Market Data ontologies this quarter involved integrating the latest additions to the OMG Commons Ontology Library v1.2.
Securities (SEC)
Significant revisions to the Securities domain in Q1 include (1) integrating the latest additions to the OMG Commons Ontology Library v1.2, and deprecating duplicate content in FIBO, (2) reconciling terminology for business day adjustment with business day convention (favoring convention as used in a number of other standards), (3) normalizing the patterns and terminology related to underliers (which impacted asset-backed securities in SEC), (4) extending the concept of 'shareholding' to incorporate additional semantics, and (5) moving the concept of a 'collective investment vehicle' from funds to the more general pools ontology, reconciling the class hierarchy for managed investments, and adding concepts for 'private fund', 'private credit fund', and 'private equity fund', which will be extended with the assistance of SMEs in a future release.
What's Changed
- fix scaffolding.ttl with terminating dot after last @Prefix by @neeraj9 in #2093
- DER-146 - Add a definition for the ISO 4914 Unique Product Identifier for OTC instruments by @ElisaKendall in #2097
- Typo in the label of DataProcessingServicer by @ElisaKendall in #2098
- DER-146a - Augment the definition for the ISO 4914 Unique Product Identifier for OTC instruments with additional annotations and examples by @ElisaKendall in #2100
- SEC-150 - Reconcile the notions of business day adjustment and business day convention by @ElisaKendall in #2102
- BE-254 - The definition of shareholding is missing details by @ElisaKendall in #2108
- FBC-324 - The property 'has credit limit' is defined in loans and should be available for any credit facility in FBC by @ElisaKendall in #2106
- DER-112 - There are mixed approaches to representing underliers - some use hasUnderlier (formerly hasIdentity) and others do not by @ElisaKendall in #2104
- FND-389 - Integrate the ontologies added to Commons 1.2 (phase 1) by @ElisaKendall in #2112
- FND-389a - Integrate the ontologies added to Commons 1.2 (Organizations, phase 2) by @ElisaKendall in #2114
- FND-389b - Integrate the ontologies added to Commons 1.2 (phase 3) by @ElisaKendall in #2116
- FBC-326 - Revise the ISO MIC codes to reflect updates made in Q1 2025 by @ElisaKendall in #2118
- SEC-203 - Need the definition of private credit fund by @ElisaKendall in #2110
- DER-90 - Clean-up definitions in the rate de...
Contributors
Assets 2
Q4 2024 Release
Q4 2024 Release Notes
Q4 2024 Revisions Summary
Major revisions this quarter revolved around the ability for FIBO to describe real property, loans collateralized by real property, including mortgages, and sustainability linked loans. Three new ontologies related to lending were released this quarter: (1) Real Property (in FND/Places), (2) Mortgages (in LOAN/RealEstateLoans), and (3) Green Loans (in LOAN/LoansSpecific). There is also a new ontology in the development part of the LOAN domain called MortgageOrigination, which retains some of the original content from what was the MortgageLoans ontology. Significant updates were made to other ontologies to get to the point where the real estate and mortgage ontologies were considered sufficient for release, with new work focused on sustainability linked loans in the new green loans ontology. The Loan Participation Notes ontology was renamed to Distributed Loans, with significant content related to syndicated loans added. The new Distributed Loans ontology has been added to the set of production (released) ontologies. We anticipate creating examples over the coming months to assist FIBO users in taking advantage of these additions. Also this quarter, the start of a controlled vocabulary for the ACTUS algorithmic representation of a contract was added in its own domain. We will continue to build this out over the coming months. We also revised the ISO MIC codes and FpML interest rates this quarter based on changes by their registration authorities.
Note that revisions to incorporate the updates to the OMG Commons Ontology Library v1.2 are anticipated in Q1, with additional elements deprecated as a consequence. A comprehensive mapping from the original FIBO elements to the replacement content in Commons will be added to the Confluence wiki in the Foundations (FND) area. See https://dil-edmcouncil.atlassian.net/wiki/spaces/FND/pages/7111313/Mapping+FIBO+to+the+Commons+Ontology+Library for detailed mapping information for prior versions of the Commons library.
Business Entities (BE)
In support of the work related to loans in Q4, general definitions for syndicate and syndicate member were added to the BE Functional Entities ontology.
Business Process Domain (BP)
Minor revisions related to deprecated elements were made to the business process domain area in Q4 2024.
Corporate Action and Events Domain (CAE)
There were no updates made to any of the corporate actions ontologies in Q4, though current work on ACTUS related terminology will touch on corporate actions in 2025.
Derivatives (DER)
This quarter there were a couple of "clean-up" resolutions related to derivatives, including clean-up of definitions related to swap legs and elimination of long-time deprecated elements,
Financial Business and Commerce (FBC)
Most of the revisions to the FBC ontologies in Q4 were to the Debt ontology, including but not limited to moving the concept of a promissory note to Financial Instruments (to avoid circularity between the two ontologies), additional work related to collateral and collateral agreement, and to contractual provisions such as use of proceeds, needed for the work in LOAN. Other changes include the updated MIC codes and elimination of deprecated elements.
Foundations (FND)
The most significant revision to Foundations this quarter is the addition of the real property ontology. Other additions include new provisions in the contracts ontology, and updates to eliminate long-time deprecated elements.
Indicators and Indices (IND)
The primary revision to IND this quarter was the update to the FpML rates. A few long-time deprecated elements were also eliminated.
Loans (LOAN)
The focus of much of the work this quarter was on lending, particularly loans that are repaid periodically and collateralized via real property. Three new ontologies related to lending were released this quarter: (1) Real Property (in FND/Places), (2) Mortgages (in LOAN/RealEstateLoans), and (3) Green Loans (in LOAN/LoansSpecific). There is also a new ontology in the development part of the LOAN domain called MortgageOrigination, which covers the remainder of the original content from what was the MortgageLoans ontology. We envision additional updates will be needed to complete coverage of the properties required for algorithmic cash flow analysis via ACTUS, and to complete coverage of the remaining parameters required for regulatory reporting.
Market Data Domain (MD)
There were no revisions to the MD ontologies in Q4.
Securities (SEC)
Minor revisions were made to the SEC ontologies this quarter, primarily for alignment with the revisions to loans, in several debt instrument related ontologies. This includes a renamed and released ontology, now called Distributed Loans, which was formerly Loan Participation Notes, as mentioned in the summary. A number of concepts were added, particularly those related to the parties involved in distributed and syndicated loans. This ontology is now released. Other ontologies in the SEC/Debt area were revised for alignment purposes, and long-term deprecated elements were eliminated.
What's Changed
- DER-113 - Need to connect properties of a swap to the legs that may "inherit" those properties by @ElisaKendall in #2060
- FBC-322 - Missing synonyms on certain properties of financial instruments by @ElisaKendall in #2064
- LOAN-168 - Revise the Loans ontologies as the basis for green loans by @ElisaKendall in #2062
- LOAN-168a - Revise the Loans ontologies as the basis for green loans by @ElisaKendall in #2066
- LOAN-169 - Add a new ontology for concepts specific to green loans by @ElisaKendall in #2068
- FND-386 - Eliminate deprecated elements that have been deprecated for more than 2 quarters by @ElisaKendall in #2071
- LOAN-169a - Add Sustainability-linked loan and related concepts by @ElisaKendall in #2073
- LOAN-169b - Add concepts related to transition loans, including supporting green projects by @ElisaKendall in #2075
- LOAN-169c - Extend environmental and sustainability related concepts to better reflect reporting and tracking requirements by @ElisaKendall in #2077
- Loosened constraints on isEvidencedBy per stakeholder feedback by @ElisaKendall in #2079
- FND-388 - Create a new domain area to cover the mapping between FIBO and the ACTUS standard by @ElisaKendall in #2081
- FBC-323 - Revise the ISO MIC codes to reflect the latest updates from ISO (Q4 2024) by @ElisaKendall in #2083
- IND-127 - Revise the FpML rates controlled vocabulary to reflect Q4 2024 revisions by @ElisaKendall in #2085
- Hygiene tests update by @mereolog in #2026
Full Changelog: master_2024Q3...master_2024Q4
Contributors
Assets 2
Q3 2024 Release
Q3 2024 Release Notes
Q3 2024 Revisions Summary
This quarter most of the development effort was spent in addressing issues uncovered by new hygiene tests and cleaning up open Jira issues. We also updated the ISO MIC codes to the September 2024 version. Finally, we released a small ontology representing commercial loans, which are needed for planned work on “green loans”, including sustainability and transition loans.
Note that some content that was deprecated in late 2023 due to integration with new ontologies in the OMG’s Commons Ontology Library will likely be removed by the end of the year.
Business Entities (BE)
The only change to the business entities ontologies in Q3 was to correct the range of a hasReach property related to the jurisdiction of Norway.
Business Process Domain (BP)
There were no changes to BP ontologies in Q3.
Corporate Action and Events Domain (CAE)
Changes made to CAE this quarter were aimed at eliminating punning issues with the ISO 15022/20022 corporate actions controlled vocabulary.
Derivatives (DER)
Changes to the derivatives ontologies include refinement of currency contracts, elimination of certain redundant restrictions in the definition of a derivative instrument, and deprecation of the notion of a foreign exchange rate observable, made moot by the revised description of a currency contract.
Financial Business and Commerce (FBC)
The primary change to FBC this quarter was to update the ISO MIC codes per the latest (September 2024) release from ISO. We also refactored the concept of a currency instrument, eliminated redundant restrictions in a couple of cases, and eliminated other bugs identified through new hygiene tests.
Foundations (FND)
There were no changes to FND ontologies in Q3.
Indicators and Indices (IND)
Changes to the indicators ontologies included revising the representation of an exchange rate (related to refactoring currency contracts), and eliminated bugs identified through new hygiene tests.
Loans (LOAN)
This quarter our primary accomplishment was to clean-up and release the Commercial Loans ontology. This modification was needed in anticipation of new use cases related to “green loans” that will be integrated over the course of Q4. FIBO users should also anticipate seeing increasing coverage of the Interagency Loan Data Reporting fields and ACTUS cash flow related properties of loans in general over the coming months, as well as new work related to mortgages.
Market Data Domain (MD)
There were no changes to MD ontologies in Q3.
Securities (SEC)
Our recent focus in the Securities domain area was on jurisdiction specific securities restrictions. New modules and ontologies for US-specific and EU-specific securities restrictions were added this quarter. We also augmented the representation of exchange-specific shares and addressed a couple of bugs identified through new hygiene testing.
What's Changed
- SEC-97 - Regulatory related missing properties of exchange specific stock by @ElisaKendall in #2031
- SEC-185 - Several terms in the DebtAnalytics ontology should be included in the InstrumentPricing ontology by @ElisaKendall in #2034
- DER-143 - There is a gap with respect to the currency contracts related to the notion of an exchange rate by @ElisaKendall in #2036
- SEC-199 - Promote the Commercial Loans Ontology to Release Status by @ElisaKendall in #2043
- GitHub-2041 - fibo-fbc-fct-usnic:NationalInformationCenterClassificationSchemeAndCodeSet is used as an object of owl:hasValue by @ElisaKendall in #2044
- GitHub-2040 - fibo-sec-sec-idind:EuroclearClearstreamCommonCode is used as an object of owl:hasValue by @ElisaKendall in #2045
- FBC-321 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2047
- GitHub-2038 - Implicit punning of OWL Classes in triples (as subjects) with datatype property by @ElisaKendall in #2048
- GitHub-2039 - Implicit punning of OWL Classes in triples (as objects) with object property by @ElisaKendall in #2049
- GitHub-2037 - Wrong value of fibo-fnd-law-jur:hasReach in fibo-be-ge-neuj:JurisdictionOfNorway by @ElisaKendall in #2050
- GitHub-2028 - Eliminate / address obsolete restrictions identified through hygiene testing by @ElisaKendall in #2053
- GitHub-2054 - Eliminate extra space in annotations on the US Securities Restrictions ontology by @ElisaKendall in #2055
- GitHub-2051 - Eliminate remaining issues related to deprecated elements that are still used somewhere in FIBO by @ElisaKendall in #2052
- DER-144 - ForeignExchangeRateObservable incorrectly modeled by @ElisaKendall in #2057
Full Changelog: master_2024Q2...master_2024Q3
Contributors
Assets 2
Q2 2024 Release
Q2 2024 Release Notes
Q2 2024 Revisions Summary
This quarter the revisions were focused primarily on open issues and bug fixing, primarily in securities. Minor corrections were made in a number of areas across FBC and SEC. We also refactored securities restrictions, moving US-specific restrictions into a domain specific ontology and setting the stage for adding other jurisdiction-specific restrictions, such as MiFID II related rules, which we plan to add in Q3. Reference data, including FpML common interest rates and ISO MIC codes were also updated this quarter.
Note that we anticipate removing a number of deprecated elements and a couple of ontologies (whose elements were all deprecated), due to migration of the FIBO concepts to the OMG Commons Ontology Library (available at https://www.omg.org/spec/Commons) later this year. Mappings that document the original and replacement elements are available in the FIBO Confluence wiki, at https://dil-edmcouncil.atlassian.net/wiki/spaces/FND/pages/7111313/Mapping+FIBO+to+the+Commons+Ontology+Library, to assist users in migrating their FIBO extensions and related applications.
Business Entities (BE)
Changes to BE in Q2 were limited to revising the definition of investor to add a subclass relationship with contract party as part of SEC-113.
Business Process Domain (BP)
Revisions to the BP domain this quarter were limited to bug fixes.
Corporate Action and Events Domain (CAE)
There were no changes to the CAE domain area in the second quarter. We anticipate promoting two ontologies to release status next quarter, however, representing controlled vocabularies for corporate actions from ISO 20022 and the ACTUS Foundation.
Derivatives (DER)
Revisions to the DER domain this quarter were limited to bug fixes.
Financial Business and Commerce (FBC)
Revisions to FBC in Q2 include bug fixes and updates to the ISO MIC codes and related business centers.
Foundations (FND)
Revisions to the FND domain this quarter were limited to bug fixes.
Indicators and Indices (IND)
Revisions to the IND domain this quarter include bug fixes and updates to the FpML reference interest rates.
Loans (LOAN)
There were no changes to the LOAN ontologies this quarter. We anticipate launching a new FIBO working group starting this fall to flesh out coverage of mortgages, and related to that, mortgage backed securities (MBS). Please let us know if you are interested in participating in that effort, which we plan to launch in mid-September.
Market Data Domain (MD)
There were no changes to the Market Data domain area this quarter.
Securities (SEC)
The primary area of new work in Q2 was in the SEC domain. We've refactored the securities restrictions ontology to split out jurisdiction-specific content, added a new US securities restrictions ontology and augmented the content, and plan to add a similar EU securities restrictions ontology in Q3. Neither ontology is intended to be exhaustive, but rather to provide examples that can be extended using similar patterns, depending on the use case. We also addressed several outstanding smaller issues to clean up content as appropriate.
What's Changed
- SEC-196 - Revise the definition of ticker-symbol to broaden its scope by @ElisaKendall in #2010
- SEC-138 - adjustable dividend rate needs reference to some sort of formula or benchmark by which it's adjusted by @ElisaKendall in #2012
- GitHub-2015 - corrected bug for incorrect prefix on hasRole by @ElisaKendall in #2017
- FBC-284 - The definition of Issuer should be adjusted to allow the same issuer to issue more than one by @ElisaKendall in #2014
- FBC-320 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2023
- IND-126 - Revise FpML reference rates to reflect the latest revisions as of June 2024 by @ElisaKendall in #2025
- GitHub-2021 - Deprecated resources in use by @ElisaKendall in #2027
- Fix to fractional seconds trailing zeros by @mereolog in #2029
- SEC-113 - Add a new North American securities folder and related ontology covering US-specific securities regulations by @ElisaKendall in #2020
Full Changelog: master_2024Q1...master_2024Q2
Contributors
Assets 2
master_2024Q1
Q1 2024 Release Notes
Q1 2024 Revisions Summary
This quarter the FIBO development team made significant progress in several areas: (1) integrated the latest revisions from the migration of several FIBO ontologies to the OMG's Commons Ontology Library v1.1, including roles, parties, and situations, and scalar quantities and units, documents, (2) clean-up and alignment of the various places in FIBO that defined interest rates, rate resets and schedules related to loans and other debt instruments, and (3) additional changes to clean-up and augment debt baskets and swap related terminology. We also revised the ISO MIC codes to reflect the latest publication as of March 2024.
Note that elements that have been migrated to the OMG's Commons library in Q1 that are now deprecated in FIBO will be removed altogether in Q4 2024.
Business Entities (BE)
Revisions to Business Entities in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library. Further migration, including certain elements related to legal entities and organizations will be transitioned to OMG in the next iteration as a part of the Commons 1.2 library.
Business Process Domain (BP)
Revisions to Business Processes in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library.
Corporate Action and Events Domain (CAE)
Revisions to Corporate Actions in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library. Note that we plan to release controlled vocabularies for ISO 20022 and ACTUS related corporate actions over the coming months.
Derivatives (DER)
As mentioned in the summary, there were significant changes this quarter with respect to derivatives. These include alignment of various kinds of schedules for interest rate changes, rate resets, and related concepts that were initially buried in the IR Swaps ontology but are now available across all debt instruments in FIBO. The changes will facilitate mapping to ACTUS parameters over the coming months, with the expectation that an ACTUS-specific controlled vocabulary and mapping will be included as a part of FIBO. There were also a number of changes related to debt baskets and clean up of the swaps related class hierarchy as well. Changes related to migration of several ontologies to the OMG's Commons library also affected a number of DER ontologies.
Financial Business and Commerce (FBC)
A number of the modifications made to realign rates and schedules also impacted FBC, particularly with respect to the Debt ontology. We see these changes as being long overdue, and believe that FIBO users will be able to better represent any kind of debt instrument, including payment and rate related schedules in a far more consistent way. Changes related to migration of several ontologies to the OMG's Commons library also affected a number of DER ontologies. The ISO MIC codes were also updated this quarter to reflect the latest updates from ISO.
Foundations (FND)
The primary revisions to Foundations in Q1 reflect migration of several ontologies to the OMG's Commons Ontology Library. These include the entire Roles ontology, much of the Parties ontology, the entire Quantities and Units ontology, and much of the Documents ontology.
Note that elements that have been migrated to the OMG's Commons library in Q1 that are now deprecated in FIBO will be removed altogether in Q4 2024.
Indicators and Indices (IND)
Revisions to Indicators in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library.
Loans (LOAN)
Revisions to Loans in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library. Having said this, the changes made with respect to rates and schedules also impacted the loans area, improving the consistency of representing the kinds of schedules that are relevant to any kind of loan, especially mortgages.
Market Data Domain (MD)
Revisions to the Market Data ontologies in Q1 were primarily with respect to support for migration of certain FIBO FND ontologies to the OMG's Commons Ontology Library.
Securities (SEC)
The changes made to realign rates and schedules also impacted the securities arena, particularly with respect to debt instruments, as mentioned above. Changes related to migration of several ontologies to the OMG's Commons library also affected a number of SEC ontologies.
What's Changed
- FND-380a - Revise / replace several ontologies with their counterparts from the Commons Ontology Library v1.1 by @ElisaKendall in #1995
- DER-126 - Need to clean up the hierarchy of swap-related events by @ElisaKendall in #1992
- FBC-317 - The concepts related to interest rate schedules, rate resets and related events needs to be cleaned up by @ElisaKendall in #1997
- SEC-181 - Augment the set of debt baskets with some additional refinements by @ElisaKendall in #2000
- FND-382 - Add an isClassifiedBy restriction on Occurrence by @ElisaKendall in #2002
- FBC-319 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #2005
- FBC-318 - Add the concept of a business calendar by @ElisaKendall in #2007
- Fix to report from testHygiene_performance_multiple_different_individuals by @mereolog in #2003
Full Changelog: master_2023Q4...master_2024Q1
Contributors
Assets 2
Q4 2023 Release
Q4 2023 Release Notes
Q4 2023 Revisions Summary
This quarter the focus was mainly on clean-up and realignment with updates to the OMG's Commons Ontology Library (see https://www.omg.org/spec/Commons/). Elements that had been deprecated for more than six months due to the initial set of commons ontologies were removed and we initiated work to align with new ontologies in the library for documents and for quantities and units, deprecating the duplicate elements from FND. We will continue this work in Q1 2024 for roles and parties. FIBO users should anticipate more deprecation, in other words, over the coming months.
Other areas of work included extensions related to pool-backed securities and credit default swaps where we found gaps, extensions related to securities classification, and increased coverage of concepts related to commodity swaps. Some refactoring of the class hierarchy and contract parameters related to swaps is underway and will be integrated in Q1 2024 as well.
Business Entities (BE)
Changes made to Business Entities in Q4 included minor spelling corrections and elimination of duplicate content with respect to the new Commons ontologies as well as elimination of deprecated elements from early 2023.
Business Process Domain (BP)
Changes made to the business process ontologies were limited to elimination of duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
Corporate Action and Events Domain (CAE)
Changes made to corporate actions-related ontologies were limited to elimination of duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
Derivatives (DER)
Much of the new work completed in Q4 was with respect to the derivatives domain, as mentioned. These include: (1) credit default swap index and basket of credit default swaps, (2) attachment and detachment points, (3) and collateral value as of date and 'has estimated total collateral value at issuance'. We also revised the definition of 'auction method' for instrument pricing and moved it to the instrument pricing ontology to enable broader usage. Definitions related to commodity swaps were also improved via (1) realigning the distinction between notional and nominal amount across instruments, (2) adding subproperties of hasNotionalAmount per the CFI standard in DerivativesBasics, and (3) adding the definition of a commodity index to the commodities contracts ontology. We also eliminated duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
Financial Business and Commerce (FBC)
Changes to the FBC domain area this quarter include updating the ISO MIC codes to reflect the latest revisions from ISO, eliminating duplicate content with respect to the new Commons ontologies, and eliminating deprecated elements from early 2023. Revisions to instrument pricing as mentioned under DER are also reflected in that ontology in FBC.
Foundations (FND)
Changes to the Foundations ontology mainly involved the revisions to eliminate deprecated elements and replace content in the Documents and Quantities and Units ontologies with their equivalents in the OMG Commons Ontology Library v1.1. Note that mappings from the old names to new ones are documented in the FIBO Foundations (FND) wiki, under https://wiki.edmcouncil.org/display/FND/Mapping+FIBO+to+the+Commons+Ontology+Library.
Indicators and Indices (IND)
Changes made to the IND ontologies in Q4 were limited to elimination of duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
Loans (LOAN)
Changes made to the LOAN ontologies in Q4 include elimination of duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023. We also revised several loans ontologies to normalize the definitions of nominal / notional amounts as described with respect to derivatives.
Market Data Domain (MD)
Changes made to the market data ontologies in Q4 were limited to elimination of duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
Securities (SEC)
This quarter the securities classification ontology was extended to cover the ICB benchmark and scheme managed by FTSE Russell and
the GICS classifier (code) and scheme managed by S&P. We also revised the pool-backed securities ontology, as mentioned above, including defining attachment and detachment points, augmenting the definition of tranche, and incorporating better definitions related to collateral. We also eliminated duplicate content with respect to the new Commons ontologies and deprecated elements from early 2023.
What's Changed
- Read.me documentation was updated by @techie2000 in #1971
- DER-138 - Need to add relationships to tranches and model them with respect to an index tranche CDS by @ElisaKendall in #1974
- FND-381 - Eliminate deprecated elements from revisions due to the integration of the Commons 1.0 library by @ElisaKendall in #1976
- DER-140 - Wording of the definition of AuctionMethod in CDS is clumsy by @ElisaKendall in #1978
- SEC-195 - Address misspellings in the CIV ontology by @ElisaKendall in #1979
- issue-1955 - Spelling error "Sultinate" should be "Sultanate" by @ElisaKendall in #1980
- SEC-119 - Need to bring in classification schemes that are used by the SEC and other regulators for classifying shares by @ElisaKendall in #1982
- DER-127 - Coverage of Commodity Swaps with respect to the CFI standard is incomplete by @ElisaKendall in #1984
- issue-1956 - Incorrect definition of EBITDA by @ElisaKendall in #1985
- FND-380 - Revise / replace details from the FIBO Documents and Quantities and Units ontologies with their counterparts from the Commons Ontology Library v1.1 by @ElisaKendall in #1987
- FBC-316 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall and @rivettp in #1990
New Contributors
- @techie2000 made their first contribution in #1971
Full Changelog: master_2023Q2...master_2023Q4
Contributors
Assets 2
Q3 2023 Release
Q3 2023 Release Notes
Q3 2023 Revisions Summary
Much of our work this quarter focused on preparation for and release of the Asset-Backed Securities ontology. To that end, we also released two ontologies in the LOAN domain, including Consumer Loans and Student Loans. We also updated the ISO MIC codes to the September 2023 version. Finally, we continued work on representing some of the controlled vocabularies required to map FIBO to the US National Information Center’s repository of institutional reference data and to the ACTUS Foundation’s JSON parameters for ACTUS contract types.
Business Entities (BE)
There were no substantial changes to ontologies in the BE domain in Q3 2023.
Business Process Domain (BP)
There were no changes to ontologies in the BP domain in Q3 2023.
Corporate Action and Events Domain (CAE)
There were no changes to ontologies in the CAE domain in Q3 2023.
Derivatives (DER)
Due to the focus on ABS this quarter, there was less emphasis on the derivatives domain, but definitions for mini-future certificates were added to the Rights and Warrants ontology. We anticipate augmenting the derivatives ontologies with key parameters from the ACTUS algorithmic contract definitions over the coming months. We will also be extending and integrating relevant corporate actions that trigger CDS contracts in the first half of 2024.
Financial Business and Commerce (FBC)
The primary change to FBC this quarter was to update the ISO MIC codes per the latest (September 2023) release from ISO.
Foundations (FND)
Changes to FND this quarter were limited to the addition of a definition for EBITDA.
Indicators and Indices (IND)
There were no changes to ontologies in the IND domain in Q3 2023.
Loans (LOAN)
This quarter our primary accomplishments included clean-up and release of the Consumer Loans and Student Loans ontologies. FIBO users should anticipate seeing increasing coverage of the Interagency Loan Data Reporting fields and ACTUS cash flow related properties of loans in general over the coming months.
Market Data Domain (MD)
There were no changes to ontologies in the MD domain in Q3 2023.
Securities (SEC)
Summary: The primary focus in the Securities domain area this quarter was to complete the clean-up and release of the Asset-Backed Securities (ABS) ontology. Other minor changes include: (1) normalization of our representation of security forms, and (2) migration of tranche-related concepts from MBS to CDOs, in preparation for continued work to refine the MBS ontology.
What's Changed
- SEC-188 - Tranche related concepts in MBS should be moved to CDOs by @ElisaKendall in #1952
- issue-1949 - change resource name from Syria to SyrianArabRepublic by @aamedina in #1954
- DER-117 - The Rights and Warrants ontology is missing the concept of a mini-future certificate by @ElisaKendall in #1947
- SEC-190 - Consumer loans is incomplete and needs additional content / definitions by @ElisaKendall in #1958
- SEC-191 - Eliminate the class WACBondCoupon as redundant by @ElisaKendall in #1960
- SEC-192 - Move the inheritance link between consumer loan and credit cards to the credit cards ontology by @ElisaKendall in #1962
- LOAN-167 - The student loan ontology is missing government-backed student loan by @ElisaKendall in #1964
- SEC-193 - The concept of an auto loan pool in ABS requires the notion of a motor vehicle lease by @ElisaKendall in #1966
- FBC-315 - Revise the ISO MIC codes to reflect the latest updates from ISO by @ElisaKendall in #1970
- SEC-194 - Complete the work to release the ABS ontology by @ElisaKendall in #1969
- issue-1950: add separate references to england and wales by @aamedina in #1953
New Contributors
Full Changelog: master_2023Q2...master_2023Q3
