Commodities Payout Terms

[astonGS]

Proposal: New modeling initiative on FINOS Legend shared instance

To launch a working group to continue enhancing the ISDA Common Domain Model Commodities element.

Business Problem

The ISDA CDM recently introduced its first instance of Commodities representation & looked to capture Payout terms of a vanilla swap. There are many other iterations of Commodities contracts that would benefit from a industry standard being created and the driver of this group is to continue to build the CDM and look to capture payouts associated with Commodity Options in the first instance.

Proposed Solution

Looking to tackle the Commodity Option payout first, the proposed solution will look to build on the existing generic option component with any additional terms that are relevant to commodities but not necessarily captured.

Team

TBC

FINOS hosts collaborative modeling initiatives, so contributors are encouraged to seek public commitment from at least one additional organization before the project can be approved.

Target Contributors

TBC

Infrastructure needs

• Project to be hosted on Legend Studio instance. Preference for a new project to be created instead of using the existing CommodRefData project.
• Weekly recurring meeting, Thursdays @ 11am ET / 4pm GMT.
• New mailing list to be created for audience communication.

Please indicate if the project you are proposing is:

New workstream under existing project Financial Objects.

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Please do not edit the below content at contribution time

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Legend modeling effort: Setup Checklist

(v. 1.0, last updated on 2021-01-11)

Below is the list of tasks that FINOS Team go through in order to onboard and set up the FINOS Legend modeling effort.

Identify modeling effort meta

• Identify and Assign FINOS Modeling effort POC: @agitana
• Modeling effort name: Commodities Payout Terms
• Modeling effort slug: commodities-payout
• Modeling effort leader: Shaun Aston (GS) | GitHub username astonGS
• Meetings (existing/yes/no): weekly on Thursdays at 11am ET see calendar invite
• Meeting minutes, agenda, attendance tracking (existing/yes/no): github.com/finos/finos-fo

Proposal (Lead maintainer)

• Lead maintainer to send out announcement to community@finos.org using this template - Done See announcement

Approval

• Given that this is a proposal for a new workstream under the Financial Objects FINOS project, request approval from Financial Objects lead maintainer(s)

Project setup

• create a new project for the modeling initiative on the Legend hosted instance
• set up recurring meetings: Done see calendar invite
• set up mailing list commodities-payout@finos.org
• add participants to mailing list
• create meeting minute template in corresponding GitHub repo: issue template staged in https://github.com/agitana/finos-fo/blob/master/.github/ISSUE_TEMPLATE/commodity-payout-terms-meeting.md

Metadata update (Lead: FINOS Infra)

• Add project to metadata
• Add identities, orgs and affiliations to metadata
• Add project maintainers emails to finos-project-maintainers@finos.org list @agitana
• Add project maintainers GitHub usernames to the project-maintainers Team
• Onboard users into Legend Shared Instance
• Add users to GitLab groups to grant permissions (depending on their entitlements)

Next steps (to be addressed in a separate GitHub issue once the project has been set up)

• Invite GitHub usernames to GitHub FINOS Org

[TSanborn-ISDA]

Hi!

[maoo]

Initiative was onboarded as part of the FINOS Financial Objects project, announcement sent to https://groups.google.com/u/1/a/finos.org/g/community/c/7U3uS0GJ0QQ

[CaroleMasset]

hi