Re: Regarding Party Identifiers

Morning,

Further on the LEI, the ontology: https://www.gleif.org/ontology/v1.0/Base/index-en.html

Jo: my only comment is: I couldn’t find some of the businesses I wanted to use as examples for which I have PERMID’s to compare them with the output from the GLEIF website.

Regards,

Josh

From: Jo Rabin <jo.rabin@db.com>
Date: Tuesday, 11 May 2021 at 19:54
To: public-md-odrl-profile@w3.org <public-md-odrl-profile@w3.org>
Subject: Re: Regarding Party Identifiers
Thanks for this.

LEIs look like an interesting candidate for Party Identifiers: https://en.wikipedia.org/wiki/Legal_Entity_Identifier<https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FLegal_Entity_Identifier&data=04%7C01%7Cjoshua.cornejo%40refinitiv.com%7C5d16017559be4a52f63f08d914ae4461%7C71ad2f6261e244fc9e8586c2827f6de9%7C0%7C0%7C637563560982201844%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=lBTwULqefzYIktB90HaVtJKBFkb73oFRN%2FroSR60aWk%3D&reserved=0>

Since having an LEI is mandatory for financial transaction regulatory reporting it seems likely that any party named in a Market Data context will have one?

I have approached the Global Legal Entity Identifier Foundation to discuss …

… would be good to hear from others on this?

Jo


From: "Cornejo, Joshua" <Joshua.Cornejo@refinitiv.com>
Date: Tuesday, 11 May 2021 at 19:02
To: "public-md-odrl-profile@w3.org" <public-md-odrl-profile@w3.org>
Subject: Regarding Party Identifiers
Resent from: <public-md-odrl-profile@w3.org>
Resent date: Tuesday, 11 May 2021 at 19:02

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/<https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.w3.org%2Fns%2Fodrl%2F2%2F&data=04%7C01%7Cjoshua.cornejo%40refinitiv.com%7C5d16017559be4a52f63f08d914ae4461%7C71ad2f6261e244fc9e8586c2827f6de9%7C0%7C0%7C637563560982201844%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=uKJQhvQ9lEDb%2Ba9m1Pcu5RSxarguT5eCK%2Fv4LDy%2FFRQ%3D&reserved=0>)
·         other supporting ontologies (e.g. http://www.w3.org/2006/time#<https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.w3.org%2F2006%2Ftime&data=04%7C01%7Cjoshua.cornejo%40refinitiv.com%7C5d16017559be4a52f63f08d914ae4461%7C71ad2f6261e244fc9e8586c2827f6de9%7C0%7C0%7C637563560982211801%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=8Kb07TS%2FN8gi4Wz76tQeWM7dEQ3arIU%2FxPqBN%2B%2B1OME%3D&reserved=0>)

     *   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>

[A picture containing icon  Description automatically generated]



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