CDM Asset Refactor Task Force Minutes

Meeting Host: Lionel Smith Gordon, Regnosys

Date

May 9th, 2024 - 11am ET / 4pm BST

Untracked attendees

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)
[ ] Approve meeting minutes
[x] https://github.com/finos/common-domain-model/issues/2888
[ ] Recap progress and request review of new Contribution
[ ] TransferableProduct and negotiated nonTransferableProduct.
[ ] Proposed BuySellPayout.
[ ] Examples for typical products.
[ ] AOB, Q&A & Adjourn (5mins)

Materials

ARTForce 9May24.pptx

Minutes

Minutes:

Minutes of 2 May a. Reviewed and agreed minutes of previous meeting.
Re-cap to date a. Reviewed the definition of the new Asset data type (pg 4 of the meeting deck) and the examples (pg 5). b. Agreed that model should support multiple identifiers on an asset (pairs of identifier and identifierType); Action: update cardinality (LSG) c. Discussed potential additional attributes for Security (isExchangeTraded, Exchange, RelatedExchange) but agreed that these are part of the referential definition of the security, rather than essential identifying information that should be part of the lightweight Asset data type. d. However, the attribute CFIcode should be added because it is an identification scheme which is needed downstream by DRR. e. The comment on Exchange needs to be updated to correct the reference to the FpML URL. f. AssetPool: Lyteck proposed that AssetPool should be removed from CDM as the current implementation is wrong and incomplete; mortgages will be modelled if and when the need arises.
TransferableProduct & nonTransferableProduct a. Review how ASX FlexClear exchange-created derivatives would fit in the model.
BuySellPayout a. Participants agree with the need to support cash transactions more easily and the contents of this new data type works. b. However, participants were uncomfortable with the representation of a cash trade inside Payout (which they felt is a derivatives market concept). c. Suggestions that the name be improved: DeliveryPayout or similar. d. Also suggestions that the data type be moved out of Payout, perhaps to the TradableProduct level. e. Action: re-work the proposal (LSG).
Examples a. Participants found the provided examples helpful and more examples are beneficial. b. Should be presented as a hybrid of DSL, graphical representation and JSON.