This article presents the benefits of the full commercial over the Open Source core version.
FIB-DM Normative, 2,626 entities, the industry-standard derived from FIBO Production.
The full version adds sixteen hundred normative entities in additional packages for Loans, Securities, Derivatives, Indices & Indicators, and Corporate Actions. The permissive commercial license includes data model resources. This overview discusses license terms, maintenance, and pricing.
Audience
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 embrace 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 understand license terms and ownership costs fully.
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 1,300 users from 84 countries downloaded the free version released under GNU General Public License (GPL-3.0), an Open Source Initiative® recommended license.
The commercial version unlocks sixteen new Normative entities in five packages for investment and financial markets.
Sec urities package
Model entities, relationships, attributes, and inheritances of the Securities package have their code starting with the prefix fibo-sec. E.g.
| Code | Name |
| fibo-sec-sec-id:SecurityIdentifier | Security Identifier |
- Equities
equity instruments, depository receipts, equity issuance, limited partnership equity, shareholder rights, and shareholder equity - Bonds
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.
Derivatives
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
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 an 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’s training materials. The only restriction is that you can’t pass them on to third parties.
License Agreement
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. It 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 must 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 a waiver free of charge. For example, collaborating with other licensed Financial Institutions or publishing your presentations based on model resources.
| Topic | Detail | Your current General Public License 3.0 | Your upgrade Commercial License |
|---|---|---|---|
| FIBO Release | 2018/Q4 | 2022/Q2 | |
| Domain | Public | Private | |
| Distribution | Original FIB-DM | encouraged | prohibited |
| Your FIB-DM derived works | Open Source | Private, not applicable | |
| Number of Entities | 1029 | 2,626 (normative) | |
| FIBO Modules | Foundation | ✔ | ✔ |
| Business Entities | ✔ | ✔ | |
| Finance, Business & Commerce | ✔ | ✔ | |
| Securities | X | ✔ | |
| Derivatives | X | ✔ | |
| Indexes & Indicators | X | ✔ | |
| Informative | LOANS | X | ✔ |
| Funds | X | ✔ | |
| Corporate Actions | X | ✔ | |
| Market Data | X | ✔ | |
| Business Processes | X | ✔ | |
| Resources | PowerPoints | X | ✔ |
| Videos | X | ✔ | |
| Whitepapers | X | ✔ |
In summary, the Open Source license requires you to copyleft, that is, to license your derived models to the public.
The proprietary Customer commercial license agreement lifts the GPL 3.0 license requirement. In other words, you keep your FIB-DM Enterprise and other models secret. However, you must not share the extended Full modules.
Likewise
With a customer license, you are free to modify, translate, edit, and even lift off images and diagrams as long as they remain within your organization.
Maintenance
There is no official release plan for the Financial Industry Business Ontology. Finalizing the Development modules, rigorous review, and QA depend on EDMC members’ availability providing subject matter experts.
The EDM Council releases new FIBO Production and Development versions every quarter.
FIB-DM follows the schedule and has a new data model versions, four weeks after the new FIBO release.
The optional maintenance contract, besides support, entitles you to twelve months of free upgrades.
Pricing
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 rise as the model gets bigger. Please, always request a quote.
Conclusion: upgrade now
- Update to the latest 2022/Q2 FIBO release.
- Unlock the full data model.
- Keep your derived works proprietary
- Fully leverage the education resources
- Transform your ontologies and reverse-engineer data models
- Secure your stimulus discount before your competitors.
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., jziemer@jayzed.com
References
Specification of the offer (spreadsheet):
- FIB-DM 2022/Q2 Normative Entity list report.