Full Data Model upgrade

This article presents the benefits of the full commercial over the Open Source core version.

FIB-DM Normative, 3,040 entities, the industry-standard derived from FIBO 2023-Q4 Production.

The full version adds two thousand 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.

Lego Data Architect (icon)

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.

Lego Ontologist (icon)

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 3,000 users from 84 countries downloaded the free version released under GNU General Public License (GPL-3.0), an Open Source Initiative® recommended license.

A dependency diagram for the base (root-level) packages in FIB-DM.
Base Packages diagram

The commercial version unlocks 2000 normative entities in eight Banking and Investment Management packages.


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.

Education track for Project Modeler
Education track for Project Modeler
  • 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 retain 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.

TopicDetailYour current
General Public License 3.0
Your upgrade
Commercial License
FIBO Release2018/Q42023/Q4
DomainPublicPrivate
DistributionOriginal FIB-DMencouragedprohibited
Your FIB-DM derived worksOpen SourcePrivate, not applicable
Number of Entities10293,040 (normative)
FIBO ModulesFoundation
Business Entities
Finance, Business & Commerce
SecuritiesX
DerivativesX
Indexes & IndicatorsX
LOANSX
FundsX
Corporate ActionsX
Market DataX
Business ProcessesX
ResourcesPowerPointsX
VideosX
WhitepapersX
FIB-DM General Public 3.0 vs. Customer License

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.

Likewise, all Education materials are subject to copyright. You are welcome to share the original, but you must not modify any articles, Excel files, PowerPoints, or videos.

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 BusinessMetricTier ATier BTier C
Sell SideConsolidated Capital$10B+$500M-$10B<$500M
Buy SideAssets under Management$200B+$50B-$200B<$50B
CustodyAssets under Custody$1,000B+$100B-$1,000B<$100B

The license price for a mid-tier Financial Institution is $65,000 – 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., $13,000 per year for a Tier B financial institution.

Note: The above prices are indicative. They will rise as the model gets bigger. Please, always request a quote.

Conclusion: upgrade now

FIB-DM core download vs. Full Model upgrade
FIB-DM core download vs. Full Model upgrade
  • Update to the latest 2023/Q4 FIBO release.
  • Unlock the full data model.
  • Keep your derived works proprietary
  • Fully leverage the education resources

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: FIB-DM 2023/Q4 Normative Entity list report.