Financial Industry Business Data Model

Semantics For Finance Users

FIB-DM is substantial, with 3,212 normative entities as of September 2025, and continues to grow.

The Fundamental Concepts serve as a bridge to understanding the design and content.

This education module provides an overview of the fifteen concepts. A reference sheet for each concept is shown.

  • FIBO definition
  • Concept hierarchy
  • Significant associations
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Semantics for Business Users Financial Industry Business Data Model (FIB-DM)

FIBO/FIB-DM Fundamental Business Concepts Education Module

Understanding the model, scoping, and designing with Business users

FIB-DM is enormous, with 3,212 entities derived from FIBO Q3/2025.
The Fundamental Concepts are the key to understanding the design and content of the FIBO Data Model.
Concept Maps are a tool for data modelers and ontologist to communicate FIB-DM Concepts and refine their design with Business Users.
All Fundamental concepts are ultimate supertypes in the FIBO data model.

  • This introduction for all audiences provides an overview of the fifteen concepts.
    FIBO definition
  • Concept hierarchy
  • Significant associations
    F Finance key point 2

The Fundamental Concepts are for all audiences.

As a Data Architect or Modeler, you want to understand the FIB-DM design and content to scope and customize the model.
You want to use Concept Maps for reviews and joint design with your Business clients.
F
As a Finance user and subject matter expert, you find 15 concepts and their icon diagrams easy to understand, using non-technical business notation. The fifteen concept charts are for business users.
An Ontologist can use the very same FIB concepts to understand, scope, and customize the FIBO. Just like the DA, you can use concept maps rather than complex graphs to work with the business.
F Finance key point 3

Semantic Enterprise Information Architecture
Use Type RDF FIBO OWL Level
Business Conceptual
FIB-DM
FIB-UM Enterprise
Design Logical
Data Model
Department
Physical
Development RDBMS
Implementation
RDF Project
Data Message Process Object
F Finance key point 4

FIB-DM: Two-pronged learning approach

Enterprise Architecture
Focus on hierarchies of the 15 Concepts and Associative Entities
Solution Architecture
Focus on FIB-DM packages (FIBO modules) for the project – not the whole model.
F Finance key point 5

FIB concept maps have an agreed vocabulary

LEI: 7H6GLXDRUGQFU57RNE97
identifies
has Issued Capital
$176,083,000,000
USA has Country
has Legal Address
JPMorgan Chase National Association
Plays Role
Physical Address
Federal Deposit Insurance registers Corporation
identifies Is registered In
JPM Chase Bank
FDIC Cert: 628
FDIC Registry Entry
A concept map is a diagram that depicts suggested relationships [arrows] between concepts [circles]. https://en.wikipedia.org/wiki/Concept_map
The Financial Industry Business (FIB) concept map has standardized icons for concepts and an agreed vocabulary for labels.
F Finance key point 6

The concepts and vocabulary establish a direct correspondence between the map and the data model.

Legal Entity
Identifier
identifies
Monetary has Issued Capital Amount
Country
has Country
has Legal Address
Stock Corporation
Plays Role
Physical Address
Registration registers Authority
identifies
Depository Institution
Is registered In
FDIC Certificate Number
FDIC Registry Entry
F Finance key point 7

The 15 concept mnemonic icons and abbreviations

SIT Situation
A Agent
OCC Occurrence
R Role
ASP Aspect
TE Temporal Entity
D Designation
SP Specification
DOC Document
CST Constituent
ARR Arrangement
SQ Scalar Quantity
COL Collection
M Measure
ACT Account
F Finance kuesyerpoint 8

Each FIB concept is an in-depth business taxonomy. The Situation taxonomy, for example, has 1272 classification items.

Agreement
Contract
You use the MS-Excel workbook or other representations and visualizations to research the taxonomies:
Financial Instrument
Security
Credit Agreement
Loan
Identify items that fit your business requirements.
Do not create synonyms!
Tradable Debt Instrument
Equity Instrument
Work with your Data or Business Architect to extend the taxonomy as needed.
F Finance key point 9

FIB-CM Relationships derive from the vocabulary of more than 755 standardized names.

  1. We search for matching Association
  2. Investigate parent and child entities and their concepts.
    Parent Concept
    Agent
    Parent Entity
    Stock Corporation
    Associative Entity
    has Issued Capital
    Child Concept Scalar Quantity Value
    Child Entity
    Monetary Amount
    has Issued Capital
    Stock Corporation Monetary Amount
    F Finance key point 10

Complete the conformed Concept Map

Use the MS Visio template with the FIB Concept stencils, or any Concept Map diagramming tool.
Some PowerDesigner modelers create a custom model and map it to the FIB-DM conceptual data model.
Who does this, the Business Analyst, Data Modeler, or Finance user, depends on your organization and the people on the project.
15 Concepts, their taxonomies, and relationships express 80% of the business, data requirements, and high-level design.
F Finance key point 11

Data Model and Concept Map

Legal Entity
Identifier
identifies
Stock Corporation
Plays Role
Depository Institution
has Issued Capital
has Legal Address
identifies
Monetary Amount
Physical Address
FDIC Certificate Number
has Country
registers
Is registered In
Country
Registration Authority
FDIC Registry Entry
The business introduction stated a direct correspondence between the FIB Concept Map and the FIB Data Model.
The Semantic Enterprise Information Architecture considers the FIB-CM a simplified conceptual data model in sync with FIB-DM.
Just as we derive a Physical Data Model (PDM) from a Logical Data Model (LDM), we can derive a Conceptual Data Model (CDM) from a Concept Map (CM). And we should reflect CDM changes in the CM.
The controlled vocabulary of the FIB-CM comprises the FIB-DM base, associative entities, and associations.
The MS-Excel workbook derived from the Data Model list reports!
Data Architect 12

Depth of Concept hierarchies

The table shows the number of subtypes under the ultimate supertype.
Concept Situation Role Designation Constituent Collection Agent Aspect Specification Arrangement Measure Occurrence
TemporalEntity Document ScalarQuantityValue LegalConstruct Reference
Facility Product Account Location Grand Total
Subtypes 1272
604 151 138 136 135 133 132 118 81 78 57 56 53 46 45 31 21 19 13 3319
1400
Concept 1200
1000
800
600
400
200
0
F Finance key point 13

Number of Concept associations

The table shows the number of subtypes under the ultimate supertype.
Concept Situation Role Constituent Designation Agent Collection Aspect Specification
TemporalEntity Arrangement Document ScalarQuantityValue Occurrence Measure
Reference Account LegalConstruct Facility Product Location Grand Total
Associations 796 780 309 291 247 226 222 201 188 148 134 132 119 106
71 63 63 51 32 14 4193
Concept 900
800
700
600
500
400
300
200
100
0
F Finance key point 14

The FIB Taxonomy is the subtype hierarchy

Contract
Contract subtype Contract
The business user sees a taxonomy depicted as a diagram, a list, or a pivot table in MS Excel or another taxonomy visualization tool.
WrittenContract That taxonomy is derived from the data model.
Written Contract
Credit WrittenContract subtype Agreement
Financial Instrument
Security
Financial Instrument
Loan
Financial Instrument subtype
Security
Credit Agreement
Credit Agreement subtype
Credit Agreement Repaid Periodically
It is OK to omit entities from the user taxonomy. For example, we may remove the “Credit Agreement Repaid Periodically” if it does not add explanatory value.
Tradable Debt Instrument
Equity Instrument
Securitysubtype Credit Agreement Repaid Periodicallysubtype
Tradable Debt Instrument EquityInstrument Loan
However, we must not add classification items to the taxonomy unless we also add them to FIB-DM.
Data Architect 15

FIB Concept Map Relationships are data model Associative Entities

The FIB-DM Navigator tab below is the data underlying the business user matrix for the controlled relationship vocabulary.
It is a combination of data model relationships and entity subtype list reports.
The user doesn’t need concept or relationship hierarchies in the FIB Concept Map notation. You, the data modeler, resolve the intricacies of how and where concepts associate in the data model.
Additions to the controlled vocabulary of concept map relationships must be reflected in the data model as new associations.
Data Architect 16

Approaching an extensive model

A project modeling approach is middle-out. When working on a specific requirement, such as the Bank Call Report exercise, we investigate the subject up the subtype hierarchy.
Or we follow the FIBO module and the FIB-DM package structure, and with them the development history.
The Enterprise approach is top-down. We examine the concept

  • Business Content • Subtype hierarchy • Associations
    Data Architect Ontologist 17

Ontology and Data Model hierarchies are the same

FIB-DM concept diagrams help you to understand the FIBO rdfs:subClassOf, Class hierarchies.
Ontologist 18

The concepts and vocabulary directly correspond to the ontology graph.

Legal Entity
Identifier
identifies
Monetary has Issued Capital Amount
Country
has Country
has Legal Address
Stock Corporation
Plays Role
Physical Address
Registration registers Authority
identifies
Depository Institution
Is registered In
FDIC Certificate Number
FDIC Registry Entry
Concept relations derive from FIBO rdfs:range, rdfs:domain, and owl: Restriction.
Create concept maps to communicate your design with Finance users!
Ontologist 19

Guide to the Reference Sheets

Icon Concept Name (mnemonic)
important Subtypes
FIBO definition
Explanation, examples, and most essential subtypes
Number of 81 subtypes
Note: The FIB-DM website has fully scalable diagrams of selected complete subtype hierarchies. Download the SVG files here: /financial-industry-business-concept-diagrams/
Explanation and examples of concept relationships
significant Concept Relationships
F Finance key point 20

Situation (SIT) 1272 Situation

Situationsubtype
Setting, state of being, or relationship that is relatively stable for some period of time.
The Situation is the most significant concept in the FIBO and data model. In this context, the word means a state or relationship that Agents and Parties have agreed on.
With OMG Commons, Agreements and Commitments, previously independent concepts, are a situation. Financial Instruments are contracts.
Agreement
Agreement subtype
Contract Securities Offering
Commitment
Commitment subtype
Debt Payment Obligation Guaranty

  • The contract parties, lender, borrower, and guarantor, are roles. • Various Aspects, classifications, and codes may apply.
  • The (payment) schedule is a Collection
  • A designation identifies the contract (loan number, ID) • Contractual Elements, a Constituent, define terms.
  • Situations relate to Other Situations:
    A loan may have a guaranty agreement, many Financial Instruments have underliers.
    issues
    identifies
    classifies
    has Underlier
    applies To
    has Leg has Schedule
    F Finance key point 21

Role (R) 604
Role
Role subtype
Named specific behavior of something participating in a
particular context Undergoer Agent Role FunctionalRole
• Undergoer is the object in a Situation. Prominent examples are Asset, Collateral, Shareholding, Property, and the Underlier in Derivatives.
• Functional Role represents a functionality that a Service Provider, Government, Registration, or Regulatory Agency performs. The Functional Entity provides a hierarchy of Financial Institution types.
• The Services Provider is both an Agent Role and a Functional Role. Examples are Depository Institution, Custodian, and Investment Advisor.
Undergoer subtype
Asset Underlier Collateral
Agent Role subtype
Service Provider (cmns)
FunctionalRole subtype
FunctionalEntity

  • The Functional Entity manages its Legal Entity.
  • Registration and license numbers identify the Role.
  • A Role will relate to another Role. For example, Collateral is Collaterilized by Asset.
  • The Identifiers, in turn, identify other Functional Entities or Service Providers.
    manages
    provides
    provides
    has Contract Party
    identifies
    is Collateralized By
    F Finance key point 22

Designation (D)

Representation for something, or for a conceptualization thereof, that denotes it in a domain or subject
151 Designation
Designationsubtype

  • Prominent examples of Identifiers are the LEI, Passport Number, Account, and Security Identifiers; some may apply in a context.
  • Name and Code are widely used throughout FIBO/FIB- Identifier (cmns) ContextualDesignation Name Code Element(cmns) DM.
  • A Person or Business has a Name.
  • ID or Number identify Contract, Account, and Transactions. • A Registrar issues registration numbers, which are
    registered in a Registry. E.g. , in the U.S. the FDIC issues Certificate Numbers for licensed Depository Institutions.
    identifies
    has Name
    is Registered In
    identifies
    identifies
    issues
    F Finance key point 23

Constituent(CST)

138 Constituent Component of a collection or combination of things. Constituentsubtype

  • The FIBO defines Registries for various Businesses and Financial Instruments. The individual Entry is a constituent.
    • A pool (and a Basket) is a collection of Securities.
  • The Contractual Element details Definition, Commitment, or Conditions of a Contract, subtype og the Situation concept.
    RegistryEntry(cmns)
    RegistryEntry(cmns) subtype
    Business RegistryEntry SecurityRegistryEntry
    <> PoolConstituent
    ContractualDefinition
    ContractualElement
    ContractualElementsubtype
    ContractualCommitment ConditionPrecedent
  • The Registry, a Collection subtype, comprises Registry Entries. • Agreements, under the Situation concept, have Contractual
    Elements and may apply to a Party Role.
  • A Contractual Element often specifies Date and Amount. For example, a Loan Agreement Contrctual Element would specify principal and due date.
    has Contractual Element
    comprises applies To
    has Monetary Amount has Date
    F Finance key point 24

Collection (COL)

138 Collection(cmns) Collection(cmns) subtype
Grouping of things (may be zero) that have some shared
significance. Structured Collection Portfolio Schedule Code Set(cmns)

  • Entries in Structured Collections may be dated or ordered. • Portfolios and schedules are significant collections.
  • There are various Code Sets in Finance. Well-known examples include SIC and ZIP codes.
    Structured Collectionsubtype
    Registry(cmns) CurrencyBasket
    Code Set(cmns) subtype
    Standard IndustrialClassificationScheme Zip Code Scheme
  • The Collection has Members, typically identifiers. E.g., the ZIP codes are Postal Identifiers within the Zip Code Scheme.
  • Agreements have Schedules, like for the payments on a Loan. • A Functional entity manages the Collection (Registrar, Portfolio
    Manager)
  • The Schedule has Occurences, the dated events. For example a Payment Schedule has dates and Amounts to pay.
    has Member
    has Monetary Amount
    has Schedule
    manages
    has Occurence
    F Finance key point 25

Agent (A)

An agent is an autonomous individual that can adapt to and interact with its environment.

  • The Person is an intuitive subtype of an autonomous Agent. There can only be one record of you in an Agent table.
  • Likewise, there must be only one record of Legal Person with its subtype Legal Entity or Organization
  • Automated Systems or Software Agents can transact without human intervention.
    135
  • IDs identify the Agent, e.g., the Passport identifies a Person.
  • The Agent has Addresses; the corporation is Domiciled in some Geopolitical Entity
  • A Corporation has a Date of Incorporation, a Person has a Date of Birth.
  • The Functional Entity manages its Legal Entity.
  • Agents own other Agents: The hierarchy of subsidiaries.
    has Registered Address
    identifies is Domiciled in
    owns has Date of Incorporation
    manages
    F Finance key point 26

Aspect (ASP)

133 Aspect Aspect subtype
A characteristic or feature that can be used to dimensionalize,
filter, or subset a class, collection, or set of things. IndexValue Classifier Value Principal

  • The Value is typically associated with an asset or property. • Index Value means an entry within an Indexing Scheme.
  • The Principal pertains to Agreements (e.g., the Loan Principal) • Classifiers comprise an extensive subtype hierarchy.
  • We have the Lifecycle Status (and Stage), Rating Scores, and Classification of Financial Instruments.
    Classifier subtype
    Lifecycle Status FinancialInstrument Classifier Rating Score
  • A Functional Entity may govern the Aspect.
  • Aspects classify other concepts, for example, the Type of a Legal Entity.
  • A Classification Scheme (Arrangement concept) defines the Classifier Aspect
  • The Lifecycle Status has a Stage (an Occurrence) • A Lifecyle State precedes another.
    governs
    precedes
    classifies
    defines
    has Stage
    F Finance key point 27

Specification (SP)

132 Specification(cmns) Specification(cmns) subtype
An explicit set of requirements to be satisfied by a material,
product, or service. TechnicalSpecificationDocument Expression Observable Value Formula

  • The intuitive subtype is a Technical (or any other) Specification Document.
  • A formula consists of one or more expressions. Examples are Cashflow or Option Premium formulas.
    • Expressions are various economic indicators like the CPI, Ratios, FinancialExposure Pricing Models, and Exposures.
    Expressionsubtype
    Consumer Price Index Pricing Model Ratio
  • The Specification may play a Role as an object. • Its value can be expressed as a Scalar Quantity.
    • Elaborate Specifications describe Derivatives, for example, the Strike Rate of an Option.
  • Contractual Elements have Specifications, such as the Accrual Basis of a Loan.
  • A Formular has one or more Expressions.
    has Value Expressed In
    plays Role has Strike Rate
    has Expression has Accrual Basis
    F Finance key point 28

Arrangement (ARR)

118 Arrangement (cmns)
Systematic plan, manner, or method for making, doing, achieving, or Arrangement (cmns) subtype organizing something.

  • Code Sets, Classification Schemes, Lifecycle, Identification, and Indexing Schemes are all Arrangements.
  • Examples are the SIC scheme, the classification of Financial Instruments, and the Trade Lifecycle.
  • We use the Organization Identification Scheme to model our Financial Institution’s Business Units.
    Code Set (cmns) Indexing Scheme (cmns) ClassificationScheme IdentificationScheme (cmns)
    Code Set (cmns) subtype ClassificationScheme subtype IdentificationScheme (cmns) subtype
    Standard Industrial ClassificationScheme Financial Instrument ClassificationScheme OrganizationIdentificationScheme (cmns)
    Lifecycle
    Lifecycle subtype
    Trade Lifecycle
  • Arrangements define Identifiers, which in turn comply with the Arrangement.
  • Arrangement defines Aspect, and the Collection may have an Arrangement.
  • Various things, like Products have a Lifecycle. • The Lifecycle has a Stage, an Occurence.
    defines
    has Stage
    has Lifecycle
    complies With
    defines
    has Arrangement
    F Finance key point 29

Measure (M)

81 Measure Measure subtype
Amount or degree of something; the dimensions, capacity, or amount of
something ascertained by measuring. StatisticalMeasure MaterialMeasure

  • Material measures are quantities. They are tangible, as in a count or size.
  • Statistical Measures apply to a data set, such as the mean, weighted average, or the difference between values.
  • Qualified Measures have features that define how they are calculated. The Key Performance Indicator (KPI) is a subtype of the Qualified Measure.
    StatisticalMeasure subtype
    Mean Qualified Measure Difference Weighting Function
  • Many Measures apply to Derivatives ( a subtype of the Situation) • Some Bonds are Based On Economic Indicators (Inflation-Linked
    Bond).
  • The actual number of the Measure is a Quatitative value. • Measures can have dates and intervals.
  • Economis indicators have a release date.
    has Quantity Value
    Applies To has Reporting Period
    is Based On has Release Date
    F Finance key point 30

Occurrence (OCC)

78 Occurrence Kind Occurrence Occurrence Kind subtype Occurrence subtype
Happening of an OccurrenceKind, i.e., an event

  • Transaction Events are the most essential Occurrence Kinds. • We find Trade, Payment, Swap, and Accounting Transactions. • Lifecycle Events occur during the stages of a Lifecycle.
  • The Occurrence, the actual instance of an event, follows the Occurrence Kind Structure. For example, a Payment is an instance of the Payment Event.
    Lifecycle Event
    Lifecycle Event subtype
    Trade Lifecycle Event Accounting Transaction
    Transaction Event
    Transaction Event subtype
    Trade Payment Event
    Payment
    Swap Lifecycle Event
  • Many Occurrences apply to Contracts (their lifecycle).
  • Securities may specify an Occurrence, for example, an Interest Rate Reset.
  • An Aspect may classify the Occurrence.
  • Calculation Occurences have an Expression, the result of the calculation is a Scarlar Quantity Value.
  • A Schedule (Collection) has Occurences.
  • The Default Event applies to a Legal Person (Agent concept)
    classifies
    specifies applies To
    applies To has Expression
    has Occurence has Expression
    F Finance key point 31

Temporal Entity (TE)

57 TemporalEntity
TemporalEntitysubtype
Time interval or instant

  • A Time Instant is a Date, Time, or Time Stamp.
  • The Time Direction indicates whether the Time Instant is forward or backward looking to a reference point. E.g., a due date may be invoice date plus 60 days.
  • The Time Interval can be a Duration (e.g., 10 years) or the period between two dates.
  • Recurrence Intervals have the same length as in a schedule.
    Time Instant
    Time Instant subtype
    Time Of Day Date
    Time Direction
    Duration
    Time Interval
    Time Intervalsubtype
    Recurrence Interval Date Period
  • A Person has a Date of Birth, and a Corporation has a Registration Date.
  • The Consituent has various dates, specifying terms of a contract or Financial Instument.
  • Documents have expiration dates (cards, identity documents, and offerings).
  • A contract usually has an effective date. • A Reference Interest Rate has a Tenor.
    has Principal Repayment Date
    has Date Of Birth has Expiration Date
    has Tenor has Registration Date
    has Effective Date
    F Finance key point 32

Document (DOC)

56 Document
Unitary expression of some realization of an intellectual or Documentsubtype artistic work

  • Important subtypes of DOC are Certificates, Publications, Records, and Legal Documents.
  • The Contract Document is the actual signed file or paper.
  • The Account Statement is both a Legal Document and a Record. • The Financial Institution files Regulatory Reports.
  • The Transaction Record is proof of the Transaction.
    Certificate
    Certificate subtype
    BirthCertificate
    Publication
    TransactionRecord
    Record
    Record subtype
    RegulatoryReport(cmns)
    LegalDocument
    LegalDocumentsubtype
    AccountStatement ContractDocument
  • An Identity Document identifies a Person.
  • The plastic Credit Card applies to a Credit Card Account. • A Contract Document applies to an Agreement.
  • The Publisher (a Role) publishes the Publication. • A Document has an Expiration Date.
  • The Transaction is registered in the Transaction Record.
    applies To
    identifies
    is Registered In
    applies To
    publishes
    has Expiration Date
    F Finance key point 33

Scalar Quantity (SQ)

Property of a phenomenon, body, or substance, where the property has a magnitude that can be expressed by means of a number and a reference.
53 Scalar QuantityValue
Scalar QuantityValue subtype
Scalar Quantity
Scalar Quantitysubtype

  • Important Scalar Quantity Values are Monetary Amount, Price, and Quantitative Value.
    • Variables and constants are used in Expressions and
    Formulas. MonetaryAmount Price Quantitative Value Variable Constant Measurement Unit • The Measurement Unit is a Scalar Quantity.
  • The Expression has a Scalar Quantity Value as an Argument.
  • The Security, a Situation, has a Closing Price. • The Account has a Balance.
  • Debt Terms, a constituent, govern the Payment of Interest.
  • The Appraised Value, an Aspect, has an Estimated Value, the Market Value.
    has Balance
    has Price governs Payment Of
    has Argument has Estimated Value
    F Finance key point 34

Legal Construct (LC)

46 LegalConstruct LegalConstruct subtype
Something which is conferred by way of law or contract, such as a right.

  • Legal Constructs break down into Right, Regulation, Duty, Legal Capacity, and De Jure Control.
  • Legal and Payment Obligations are essential (contractual) Duties.
  • Contractual Capability is the Legal Capacity to enter into contracts. • Regulatory Capacity is the right of a Regulator.
    Right
    Right subtype
    ContractualRight
    Regulation Duty De Jure Control LegalCapacity
    Dutysubtype LegalCapacitysubtype
    Payment Obligation LegalObligation RegulatoryCapacity ContractualCapability
  • A Legal person has Contractual Capability or Regulatory Capacity.
  • An Agreement confers a Contractual Right. • De Jure Control is Conferred On a Party.
  • A Contractual Right may imply a Legal Obligation.
  • A [contract] Constituent can mandate a Legal Obligation. • The Payment event fulfills the Payment Obligation.
    confers
    has Capacity is Conferred On
    implies mandates fulfills Obligation
    F Finance key point 35

Reference (REF)

Source that may be used to ascertain, interpret, or understand something
Note that the new Designation concept replaced the Reference as the ultimate supertype for Identifiers.
<>
Reference Document
45 Reference
Reference subtype
Reference Value Measurement Reference Index

  • The Regulatory Report is a significant Reference Document. • The Physical or Electronic Address is an Index.
  • Unit and Scale are Measurement References that describe a Measurement Unit.
    Reference Document subtype
    RegulatoryReport (cmns) TechnicalSpecificationDocument
    Measurement Reference subtype
    Measurement Unit Measurement Scale
    Indexsubtype
    Address
  • The Measurement Unit has a Factor, the Unit Power Factor, which is an Aspect.
  • The Address is an Index to the Physical Location.
  • A Regulatory Report has a Reporting Period and is Submitted to a Regulator.
  • A Financial Instrument is Dominated in a Currency.
  • A Party has a Physical and Electronic Mail Addresses.
    Is Index To
    has Factor has Reporting Period
    has Address has Submitted To
    Is Denominated In
    F Finance key point 36

Facility (FAC)

31 Facility
Something established to serve a particular purpose, make some Facilitysubtype course of action or operation easier, or provide some capability
or service
• The Exchange facilitates trades in the Financial Markets. Trade Reporting Facility Exchange
• The subtypes are the Regulated Exchange, e.g., the New York Stock Exchange subtype Exchange, and Alternative Trading Systems.
• The Interdealer Quotation System disseminates quotes by brokers and
dealers.,Systematic Internalizers execute customer trades on their own Regulated Exchange Interdealer QuotationSystem Systematic Internaliser Alternative Trading System Swap ExecutionFacility
account and Swaps have an Execution Facility

  • The Exchange has Financial Service Providers as Members. • A Market Identifier identifies the Exchange.
  • The Facility registers Registration Identifiers.
  • The Exchange publishes Listing Terms, and lists Securities.
    has Member identifies
    lists registers
    publishes
    F Finance key point 37

Product (PRD)

21 Product
A commercially distributed good that is (1) tangible property, (2) the output or result of a fabrication, manufacturing, or production process, or (3) something that passes through a distribution channel before being consumed or used.
Product subtype
FinancialProduct Off The Shelf Product ContractualProduct Custom Product

  • Most significant subtypes are Contractual and Financial Products. • The Time Deposit is an example of an Account Product
  • There are many Financial Products for Banking an Over The Counter. • Packaged Products are both Financial and Contractual Products.
    FinancialProduct subtype
    Card Product Banking Product Packaged FinancialProduct
    ContractualProduct subtype
    ContractualTemplate Product Time Deposit Account
  • A Buyer (the customer) buys the product, and the Seller (our FI) sells it.
  • The Product uses a Currency (concept of Reference).
  • A Catalog (or other Document) describes the Product.
  • The Financial Service Provider provides the Financial Product.
  • The Credit Card Account exemplifies the Credit Card Product, and the Credit Card Agreement applies to it.
  • The Packaged Financial Product comprises other Financial Products.
    uses Currency
    buys / sells describes
    comprises provides
    applies To exemplifies
    F Finance key point 38

Account (AC)

19 Account
Container for records associated with a business arrangement for regular transactions and services.
Account subtype
Customer Account LoanOr Credit Account Ledger Account Investment Or Deposit Account

  • For the front office, we have the Customer Account, Card accounts, Loan, and Investment Accounts
  • The General Ledger Account supports back-office data.
    Customer Account subtype LoanOr Credit Account subtype
    Card Account LoanSpecific Customer Account Credit Card Account
    Investment Or Deposit Account subtype
    Investment Account Deposit Account
  • The Financial Institution provides the Account. • It has a Balance, which is a Scalar Value.
  • An Account Identifier or Number Identifies the Account. • Individual Transactions apply to the Account.
  • The Customer and sometimes an Escrow Agent or a Custodian hold the Account.
  • The Loan has a Corresponding Account.
  • The Account has Open, Close and other dates associated. • The Account may exemplify a Product.
    provides has Balance identifies
    exemplifies applies To
    has Open Date holds
    has Corresponding Account
    F Finance key point 39

Location (LOC)

13 Location(cmns) Location(cmns) subtype
Place or position in time and/or space, including a virtual place.

  • There are three subtypes of Location: Notional Place, Virtual-, and Physical Location.
  • A Notional Place is an abstract location, like the domestic or the Eurozone.
  • Virtual Locations are network locations, like shared drives & folders, cloud storage, websites, and IP addresses.
  • The Place of Birth is an example of a Physical Location.
    VirtualLocation(cmns)
    VirtualLocation(cmns) subtype
    Network Location
    PhysicalLocation(cmns) NotionalPlace
    PhysicalLocation(cmns) subtype
    Place Of Birth Housing Unit
  • A Person has a Place of Birth, and the Birth Certificate or Identity Document is Evidence for it.
  • The Physical Address, a Reference, is an Index To the Physical Location.
  • A Household (concept of Role) has a Location.
    has Place of Birth
    is Index To
    classifies
    has Location
    F Finance key point 40

Service (SVC)

18
Service
Service subtype
A type of economic activity that is intangible, is not stored and
does not result in ownership; a service is consumed at the point Registration Service Financial Service Regulatory Service of sale.

  • Subtypes of Services are Regulatory, Registration, and Financial Service.
  • The major financial services are Banking, Investment, Insurance and Capital Market related.
    Financial Service subtype
    Banking Service Investment Service Insurance Service Security Listing
  • Things in Role, provide services. • The Account realizes the service.
  • An agreement may specify services, for example, a Listing Service may list Securities, Agreements.
  • A Payment Service involves the Payment Obligation, a Commitment.
  • Some Legal Constructs apply to Services.
    F Finance key point 41

Customizing the Concept Maps

Concept Maps are a tool for data modelers and ontologist working with Business Users.
While the vocabulary is an industry standard, you can customize your toolkit:
The stencils are public domain or Jayzed Data Models design. You are welcome to replace the Fundamental Concept icons.
The FIB-CM selection of the 15+5 concepts is arbitrary, based on the number of data model subtypes and their importance to the industry.
You are welcome to remove concepts and add concepts that have more significance to your Financial Institution
The Situation (SIT) is a “mega concept” – a third of FIB-DM entities as subtypes.
It is valid to replace SIT with concepts derived from its subtypes, for example, Agreement/Contract and Commitment.
F Finance key point 42

References and further reading
The FIB-DM website

  • scalable SVG diagrams of the complete subtype hierarchies /financial-industry-business-concept-diagrams/
  • Diagrams of the Concept Maps
    /financial-industry-business-concept-relationships/
    Follow the FIB-DM LinkedIn page for news, updates, and to read and share comments.
    https://www.linkedin.com/showcase/fib-dm/
    Watch FIB-DM Education videos on YouTube. https://www.youtube.com/channel/UCXUVRvqp2Y4N_YwHlSEB1gQ
    FIBO references on the Enterprise Data Management Council website https://spec.edmcouncil.org/fibo/
    F Finance key point 43

Core
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in
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jziemer@jayzed.com
F Finance key point 44