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FrameworksIndustry Models

FIBO®

Financial Industry Business Ontology

The Financial Industry Business Ontology (FIBO®) defines the sets of things that are of interest in financial business applications and the ways that those things can relate to one another. In this way, FIBO can give meaning to any data (e.g., spreadsheets, relational databases, XML documents) that describe the business of finance.

FIBO is a part of the Open Knowledge Graph initiatives of EDM Council.

FIBO adoption and compatibility

FIBO represents a consensus of the common concepts as understood in the financial industry and as reflected in industry data models and message standards. FIBO is published in a number of formats for operating use and business definitions:

  • Standardized by the Object Management Group (OMG)
  • Developed as an ontology in the Web Ontology Language (OWL) 
  • FIBO’s language is codified by the World Wide Web Consortium (W3C)
  • Based on Description Logic

The use of logic ensures that each FIBO concept is framed in a way that is unambiguous and that is readable both by humans and machines.

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EDM Council Collaboration

FIBO is hosted and sponsored by the EDM Council with ongoing input and review by its members. A number of companies and people have made substantial contributions to FIBO over the years. These include: 88 Solutions, Adaptive, Inc., BIAN, Bloomberg LP, Bureau of Economic Analysis (BEA, US Department of Commerce), Bureau of Labor Statistics (BLS, US Department of Commerce), Census Bureau (US Department of Commerce), Citigroup, Commodities Futures Trading Commission (CFTC), Credit Suisse, Deutsche Bank, Exprentis, Federal Reserve Bank of Kansas City, Goldman Sachs, HP Enterprise / Mphasis, MakoLab, Mizuho, NoMagic, Nordea Bank AB, Office of Financial Research (US Dept of the Treasury), Pinnacle Bank (Morgan Hill, California), Quarule, State Street Bank and Trust, Statistics Canada, Tahoe Blue Ltd, Thematix Partners LLC, Wells Fargo, and Working Ontologist.