Regarding Party Identifiers

Regarding Party Identifiers, here are my thoughts:


Scope:

  *   FIBO ontologies are a perfect complement/extension for ODRL Policies:
  *   Policies consist of at least 3 macro elements:
·         market data ontology (W3C defined within ODRL, e.g. http://www.w3.org/ns/odrl/2/)
·         other supporting ontologies (e.g. http://www.w3.org/2006/time#)

     *   fibo… ontologies included
·         custom policy instances and values (i.e. a specific market data policy)

     *   a custom policy instance can inherit characteristics of different classes:
        *   md:marketDataAgreement – if deemed necessary to have a specific market data class
        *   odrl:Policy – it is also an ODRL Policy
        *   fibo-fnd-agr-ctr:ContractualElement – and also a FIBO Contractual Element (i.e.. it can be part of a FIBO Contract)



The diagram below shows possible relationships of Party identifiers, Fibo and ODRL:

  *   line represents property relationship
  *   dotted line represents subclass relationship
  *   red represents current scope
  *   blue/grey represent possible extended/overlapping scope
[Diagram  Description automatically generated]

PermID:
Advantages:
·         Already implemented
·         Contains a vast number of enterprises
Disadvantages:
·         Centralised
·         Enterprises would need central processes or workarounds to custom extend
Ontology based IRI:
Advantages:
·         Ontology based
·         Can coexist with PermID
·         Distributed
·         Enterprises can overlay other ontologies above Market Data
·         Relies only on a reference to W3C market data to work
Disadvantages:
·         Needs individual maintenance

Example:

# ------------------------------------------------------------------------------
@prefix lcc: <https://www.omg.org/spec/LCC/Languages/LanguageRepresentation/>.
@prefix odrl: <http://www.w3.org/ns/odrl/2/>.
@prefix md: <http://www.w3.org/ns/odrl/2/marketdata>.
@prefix fibo-fnd-agr-ctr: <https://spec.edmcouncil.org/fibo/ontology/FND/Agreements/Contracts/>.
@prefix fibo-be-le-lp: <https://spec.edmcouncil.org/fibo/ontology/BE/LegalEntities/LegalPersons/LegalPerson>.
@prefix fibo-be-le-fbo: <https://spec.edmcouncil.org/fibo/ontology/BE/LegalEntities/FormalBusinessOrganizations/OrganizationIdentifier>.
# ------------------------------------------------------------------------------
@prefix demo: <https://www.democorp.com/ns/corporate>. # here we point to the IRI namespace
# ------------------------------------------------------------------------------
# Define the Business Entity
demo:SampleBusinessEntity a md:Provider,
                            fibo-be-le-lp:LegalPerson,
                            odrl:Party;
                          lcc:hasName "Sample Business Entity Plc."
                          fibo-be-le-fbo:OrganizationIdentifier couldBePermID;
                          # other party/entity attributes
                          .
# ------------------------------------------------------------------------------
# Definition of a Contract
demo:SampleContract_001   a fibo-fnd-agr-ctr:Contract ;
                          fibo-fnd-agr-ctr:hasContractualElement demo:SamplePolicy_001; # here we point to the ODRL Policy
                          fibo-fnd-agr-ctr:hasContractParty demo:SampleBusinessEntity,
                                                            another:SampleBusinessName,
                                                            yetAnother:BusinessInvolved;
                          # other contract attributes
                          .
# ------------------------------------------------------------------------------
# Current market data scope below here
# ------------------------------------------------------------------------------
# Definition of a policy
demo:SamplePolicy_001     a md:marketDataAgreement,
                            odrl:Policy,
                            fibo-fnd-agr-ctr:ContractualElement ;
                          # other policy attributes
                          odrl:obligation demo:obligation_001;
                          odrl:permission demo:permission_001;
                          odrl:prohibition demo:prohibition_001;
                          .
# ------------------------------------------------------------------------------
# Definition of a Duty
demo:obligation_001       a odrl:Duty ;
                          odrl:provider demo:SampleBusinessEntity;
                          # other obligation attributes
                          .
# ------------------------------------------------------------------------------



Regards,

____________________________________________
Joshua Cornejo
Architect
Data & Analytics

Phone: +44 2075 426166
joshua,cornejo@refinitiv.com<mailto:elisabeth.modin@refinitiv.com>

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