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Proof of Concept

The EDM Council, in collaboration with the Object Management Group, has been working on a demonstration proof of concept to show how semantic technology may be applied to the analysis and risk management of over the counter derivatives. Interest Rate Swaps have been selected as the product type for this demonstration.

The EDM Council also carried out an earlier Mortgage Backed Securities proof of concept based on more conventional technology applications (see below).

Derivatives Proof of Concept

The Derivatives Proof of Concept aims to demonstrate the benefits and distinguishing capabilities of semantic technology in analyzing and querying complex information around over the counter derivatives. Using “Semantic Web” technology and model notations, this project demonstrates key benefits of the technology such as the ability to query across diverse data sets (derivative products plus business entities), automatic classification of products according to their characteristics and so on.

Mortgage Backed Securities Proof of Concept

The EDM Council also carried out an earlier proof of concept in collaboration with the European Central Bank, IBM Research and a number of banks and risk management tool vendors, to demonstrate how semantics could provide the key to end to end linkage of terms in the mortgage backed securities market. This was a demonstration of the benefits of business semantics alone rather than of semantic technology, and is likely to be interest to all those who wish to apply the benefits of clear business semantics in complex information supply chains that work within conventional database technology.

This activity is now being updated to showcase the benefits of semantic technology in the arena of mortgages, loans and wholesale credit reporting. The FIBO section on loans is being updated to reflect the terms in the MISMO industry standards for loans, and this is being mapped to regulatory reporting requirements in the wholesale credit arena. 

Key Documents

OTC POC Concept  (slide deck).

Use of semantics to meet regulatory objectives. A paper presented to CFTC Technical Advisory Committee.

POC Meeting Schedule

OTC POC Working Meeting

The working meeting for the OTC proof of concept activities. Interest rate swap experts are welcome to join this working meeting.

Every week alternating between Monday and Tuesday 11:00am-12:30pm (eastern) Web conference
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These meetings are open to EDM Council members and invited guests.

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If you would like to join these meetings please contact Mike Bennett