Full Data Model upgrade

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.

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 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 700 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 FIB-DM Informative model release packages and their main dependencies.
FIB-DM Core, Normative and Informative Packages

The commercial version unlocks 900 new Normative entities in three packages for investment and financial markets.

Securities package

Model entities, relationships, attributes, and inheritances of the Securities package have their code starting with the prefix fibo-sec. E.g.

CodeName
fibo-sec-sec-id:SecurityIdentifierSecurity 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:CreditDefaultSwapContractCredit 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:InterbankBidRateInterbank 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.

View or download the MS-Excel reports for a complete list of Package and Entity names, codes, and definitions of the Normative and Informative 2020/Q1 data models.

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.

Visual guide to data model resources
Visual guide to data model resources
  • 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.

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. 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 waiver free of charge. For example, collaborating with other licensed Financial Institutions, or publishing your presentations based on model resources.

Read the full template license agreement here.

TopicDetailYour current
General Public License 3.0
Your upgrade
Jayzed Customer License
FIBO Release2018/Q42020/Q1
DomainPublicPrivate
DistributionOriginal FIB-DMencouragedprohibited
Your FIB-DM derived worksOpen SourcePrivate, not applicable
Number of Entities10291,968 (normative)
4,563 (informative)
FIBO ModulesFoundation
Business Entities
Finance, Business & Commerce
SecuritiesX
DerivativesX
Indexes & IndicatorsX
InformativeLOANSX
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. However, you must not share the extended Full modules.

Likewise, for the public all Education materials are subject to copyright – you are welcome to distribute 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 

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. 

FIB-DM 2020 new packages and entities
The pie-in-pie chart shows the number of entities in the current packages and the breakout pie of new FIB-DM packages.

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.

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

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., jziemer@jayzed.com

References

Article FIBO/FIB-DM Normative and Informative models: https://fib-dm.com/normative-and-informative-fibo-data-model-version/

Specification of the offer (spreadsheet):