eteridvalishvili commented 1 month ago

CDM Derivatives Products and Business Events Working Group Minutes

Meeting Host: Lyteck Lynhiavu, ISDA

September 25th, 2024 - 11:30 am EST / 4:30 pm BST

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Fullname, Affiliation, (optional) GitHub username

Meeting notices

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Agenda

[x] Convene & roll call (5mins)
[x] Display FINOS Antitrust Policy summary slide
[x] Review Meeting Notices (see above)
[x] Approve Past Meeting Minutes
- [x] https://github.com/finos/common-domain-model/issues/3118
[x] FRA incomplete (?) mapping of calculationPeriodNumberOfDays into CDM interestRatePayout/cashFlowRepresentation/paymentCalculationPeriod (Lyteck for Axoni)
[x] AI meets CDM (David Lee ISDA)
[x] AOB, Q&A & Adjourn (5mins)

Minutes

FRA mapping (FpML to CDM) incomplete for calculationPeriodNumberOfDays interestRatePayout/cashFlowRepresentation/paymentCalculationPeriod (Lyteck for Axoni)
- BNPP indicated there was no point coding this last field
- However, if we wanted to complete the FRA, it can be part of the larger initiative on the roadmap "to complete the mapping of supported products"
- A ticket would need to be raised to keep track of the issue, and prioritized
The "AI Meets CDM" workshop (Luca Borella, David Lee, Manuel Martos) is a line-up of demos of generative AI applications for CDM.
- Provectus showing a knowledge graph built for CDM
- ISDA showing a framework for transforming legacy contracts into CDM format
- TradeHeader showing a CDM summarizer that will interpret CDM for the user
- Columbia University showing an LLM Chatbot using an open-source fine-tuned financial LLM It will be showcased at the FINOS OSFF In New York, October 1.
AOB
- Dan Schwartz raised two questions:
- CDM's support for life cycle events has limited documentation and seems to be incomplete. In particular, it is unclear how to represent an Affirmation (JB believe is is more of a status opposed to . Similarly Marc / Tradeheader added that Allocation may have some gaps.
- In light of these gaps, Dan questioned whether a review of the event model (workflow) in CDM is warranted. CDM leverages a relatively complex collection of types and steps (e.g. Workflow, Workflow Step, EventInstruction, Business Event) and suggested exploring whether there may be opportunities to remove those barriers through simplification of the data and event modeling.
  - BNPP and Fragmos were not interested in initiating a review. The framework seems fit for purpose. Current focus is on products and DRR implementation.