22 FEB 2021 - Product Control Common Template Meeting Minutes

kenneth-hei commented 3 years ago

Date

Monday, FEB 22 2021 - 10am ET / 3pm GMT

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[ ] Convene & roll call (5mins)
[ ] Display FINOS Antitrust Policy summary slide
[ ] Quick intro from participants (company / background)
[ ] Overview of the initiative (Attached - Problem statement / proposed solution / approach)
[ ] Introduction to CDM and Legend Studio
[ ] Q&A

[ ] Project Overview by Goldman Sachs. Core idea and its benefit highlighted and agreed upon by participants.
[ ] Additional benefit in terms of regulatory environment and FRTB filing from standardisation.
[ ] Additional consideration points raised during the meeting relating to the project:
[ ] Proposal of template governance process and including it in CDM ARC (Architecture and Review Committee).
[ ] Proposal of change management process.
[ ] Interchangeability of the model from current vanilla equity proof of concept to more Exotic templates.
[ ] Discussed the need for a Steering Committee.
[ ] Discussion on convergence of the existing contractual agreement with the existing vendors and creation of an interim process to facilitate the transition.
[ ] Incorporation of the model for consensus pricing to be discussed in-depth.
[ ] Discussion on exploring how to expand this initiative to the existing complete group participating banks in the consensus, common identifier for the template, bespoke subscription requirement for different banks.

[ ] Decision to float the governance process in place before the data model finalisation.
[ ] Decision on making it an open meeting with active participation, minimum attendance quorum, voting process on process discussed.

[ ] creation and maintenance of a formal governance process guiding the common template model.
[ ] Proposal of change management process.
[ ] Set up further meeting to help the working group with an initial overview and working knowledge of CDM and Legend Studio.

Meeting link: https://finos.webex.com/finos/j.php?MTID=m6e9255a2368279a9f1857f176cbf2c1a
Meeting number: 127 642 4586
Password: J2SqF2Kp5X2
Call-in:
- Join by video system: Dial 1276424586@finos.webex.com. You can also dial 173.243.2.68 and enter your meeting number.
- Join by phone: +1-415-655-0003 US Toll | +44-20319-88141 UK Toll | Access code: 127 642 4586