This article presents the benefits of the full commercial over the Open Source core version.
Starting with the latest 2020/Q1 release: Commercial licenses get the two data models:
- FIB-DM Normative, 1968 entities, the industry-standard derived from FIBO Production.
- FIB-DM Informative, 4563 entities, a new model derived from the latest FIBO Development version.
The full version adds 900 normative entities in additional packages for Securities, Derivatives, Indices & Indicators. The permissive commercial license includes data model resources. This overview discusses license terms, maintenance, and pricing.
The FIB-DM extended overview is for technical and business users and decision-makers.
As a data architect, you are already evaluating the Open Source Version. You downloaded the FIB-DM core, and if not on PowerDesigner, imported the model file into your data modeling tool. Now you want to unlock the additional packages and entities of the extended version.
As an ontologist, business analyst, or finance user, you like the FIBO concepts, definitions, and FIB-Concept maps. You want to fully utilize the MS-Excel, PowerPoint, and Visio model resources.
As a decision maker, your team asks for an upgrade of the FIBO data model. You want to align with the industry standard, but need to fully understand license terms and cost of ownership.
FIB-DM extended vs core
FIB-DM Core is a comprehensive, self-contained, high-quality blueprint for smaller financial service providers, academic research, and independent data architects. More than 500 users, mostly European and North American Banks, downloaded the free version released under GNU General Public License (GPL-3.0), an Open Source Initiative® recommended license.
The commercial version unlocks 900 new Normative entities in three packages for investment and financial markets.
Model entities, relationships, attributes, and inheritances of the Securities package have their code starting with the prefix fibo-sec. E.g.
equity instruments, depository receipts, equity issuance, limited partnership equity, shareholder rights, and shareholder equity
concepts relating to cash debt instruments, listings, tax treatment, debt guarantees, parity variants, participation notes, and cash flow
- Money Markets
Repos, term deposits and short term debt
- Other Securities
baskets, parametric schedules, pools, securities classification, securities identification, issuance, listings, restrictions, and assets.
Model objects in the Derivatives package start with fibo-der.
|fibo-der-cr-cds:CreditDefaultSwapContract||Credit Default Swap Contract|
- Basic Contracts
- Asset derivatives
asset baskets, bond options, bond return swaps, equity forwards, equity options, equity swaps
commodities contracts, commodity delivery, forwards, options, spots, swaps
- Credit Default Swaps
- Exchange-traded derivatives (options and futures)
- Fx derivatives (forwards, options, spots, swaps)
- Rate derivatives
forward rate agreements, inflation swaps, interest rate options, interest rate swaps, OTC index options
- Rights instruments and other miscellaneous forms of derivative contracts.
Indices & Indicators
Model objects have a prefix starting fibo-ind.
|fibo-ind-ir-ir:InterbankBidRate||Interbank Bid Rate|
- Market Indices
baskets, credit, and debt indices
- Economic indicators, economic measures
- Market-based interest rates and foreign exchange
- Common interest rates, inter-bank lending and rates of debt instruments.
Data Model Resources
A colossal data model can be overwhelming. New users need introduction, training materials and references. As a bonus the commercial license grants unrestricted permission to copy, edit, lift off, and even rebrand the extensive FIBO data model resources for internal use.
- 100 Entity Relationship Diagrams in SAP PowerDesigner and Scalable Vector Graphic (SVG)
- 170 pages of education courseware in MS-PowerPoint
- 6 hours of webinar videos
- 50 pages articles & whitepapers
- MS-Excel reports MS-Visio stencils and templates
You find the public Diagrams and Resources on the FIB-DM website’s main menu. Licensees receive a ZIP-file with all data model resources. You are encouraged to edit, translate, and reformat the materials as your organization training materials. The only restriction is that you can’t pass them on to third parties.
The agreement is a standard commercial license for intellectual property. The plain English Jayzed Data Models IPLA defines organization (you), intellectual property, information model (the FIB-DM), Derived Work, and Distribution.
“Derived Work” is any work based upon the data model. They can be Modifications (e.g., scoping, adding entities) or secondary works (migrating the model or generating a physical model). You own the title to derived works that you create, but you can not distribute them to third parties.
You should not remove the EDM Council, Object Management Group, or Jayzed copyright and license notices on the model and derived works. Treat the FIBO data model as you would the original ontology.
For bona fide distributions, you can request
Read the full template license agreement here.
The Enterprise Data Management Council has exciting new business content in FIBO Development. Two thousand five hundred new entities supporting investment management and banking loans.
Read the detailed article about the 2020 outlook here.
There is no official release plan for the Financial Industry Business Ontology. Finalizing the Development modules, rigorous review, and QA depend on the availability of EDMC members providing subject matter experts.
The EDM Council releases new FIBO Production and Development versions every quarter.
FIB-DM follows the schedule and has two new data models versions, six weeks after the new FIBO release.
The optional maintenance contract, besides support, entitles you to twelve months of free upgrades.
Licenses are priced for institution size, using your EDMC membership tier as a segment.
|Line of Business||Metric||Tier A||Tier B||Tier C|
|Sell Side||Consolidated Capital||$10B+||$500M-$10B||<$500M|
|Buy Side||Assets under Management||$200B+||$50B-$200B||<$50B|
|Custody||Assets under Custody||$1,000B+||$100B-$1,000B||<$100B|
Introductory License prices start at $15,000 – a fraction of competing vendor industry data models. Central Banks, Multilateral Lenders, and other qualifying financial institutions get the Tier C price, irrespective of asset size.
The optional 12 months maintenance contract costs 20% of the license price. E.g., $3,000 per year for a Tier C financial institution.
Note: The above prices are indicative. They will raise as the model gets bigger. Please, always request a quote.
Conclusion: upgrade now
- The FIB-DM commercial license unlocks the full FIBO data model.
- Update to the latest 2020/Q1 FIBO release.
- Education materials help to get started and master the industry standard.
- The introductory pricing is a compelling offer.
- A maintenance contract keeps your reference model up to date and in sync with the FIBO.
Look up your EDMC membership tier or balance sheet and receive a formal quote. Contact us with any questions or to arrange a meeting. Thanks!
Jurgen Ziemer, Jayzed Data Models, Inc., email@example.com
Article FIBO/FIB-DM Normative and Informative models: https://fib-dm.com/normative-and-informative-fibo-data-model-version/
Specification of the offer (spreadsheet):
- FIB-DM 2020/Q1 Normative Package and Entity list report: https://fib-dm.com/release-2020-q1-normative/
- FIB-DM 2020/Q1 Informative Package and Entity list report: https://fib-dm.com/release-2020-q1-informative/