Financial Products and Services Ontology
type: Ontology
abstract: This ontology defines concepts that extend the Foundations (FND) Products and Services concepts specifically for the financial industry, including financial product, financial service, and financial service provider.
license: Copyright (c) 2015-2025 EDM Council, Inc. Copyright (c) 2015-2025 Object Management Group, Inc. Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the 'Software'), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED 'AS IS', WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. See https://opensource.org/licenses/MIT.
imports: FunctionalEntities
imports: Publishers
imports: LEIEntities
imports: Executives
imports: CurrencyAmount
imports: Contracts
imports: Lifecycles
imports: FinancialDates
imports: Objectives
imports: LegalCapacity
imports: Ownership
imports: ProductsAndServices
imports: Relations
imports: Analytics
imports: AnnotationVocabulary
imports: Classifiers
imports: Collections
imports: ContextualDesignators
imports: DatesAndTimes
imports: Designators
imports: Identifiers
imports: Organizations
imports: PartiesAndSituations
imports: QuantitiesAndUnits
imports: RegulatoryAgencies
imports: RolesAndCompositions
imports: TextDatatype
version IRI: FinancialProductsAndServices
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to add the concept of a contract lifecycle, as distinct from a product or trade lifecycle (FBC-317).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to eliminate a redundant restriction (GitHub-2028).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to eliminate certain constructs that are redundant and will never be materialized to reduce the number of nodes required for various contract-related constructs (FND-391).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to eliminate deprecations that are more than 6 months old and to replace content that is now available in the OMG Commons Ontology Library (Commons) v1.1 (FND-380).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to reconcile shareholding with equity position (BE-254), and to replace additional content that is now available in the OMG Commons Ontology Library (Commons) v1.2 (FND-389).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to replace additional content that is now available in the OMG Commons Ontology Library (Commons) v1.1 (FND-380).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to replace hasConstituent with hasMember for better semantic consistency (FND-396).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of the ontology was modified to use the Commons Ontology Library (Commons) Annotation Vocabulary rather than the OMG's Specification Metadata vocabulary.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of this ontology was modified to use the Commons Ontology Library (Commons) rather than the OMG's Languages, Countries and Codes (LCC) and to eliminate redundancies in FIBO as appropriate.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices.rdf version of this ontology was revised to augment the representation of institutions based on their definitions in the law, and to clarify and extend definitions related to non-bank financial institutions.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified as a part of organizational hierarchy simplification and to correct a logical inconsistency with respect to the representation of baskets.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified by the FIBO 2.0 RFC, including, but not limited to, the addition of lifecycle events, concepts related to trade settlement, and the definition of a unique transaction identifier (UTI).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to add a property to describe the criteria for including something in a basket, if that criteria is known, and to point to a party that is responsible for determining that criteria.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to add the notion of a weighted basket, whose consituents are weighted.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to eliminate deprecated elements.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to eliminate duplication with concepts in LCC and eliminated a redundant superclass on FinancialServiceProvider.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to eliminate references to external dictionary sites that no longer resolve, eliminate circular and ambiguous definitions, and revise definitions that referenced 'face value' improperly.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to fix spelling errors.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to reflect issue resolutions detailed in the FIBO FBC 1.0 FTF report.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to rename ownership related properties for consistent alignment with the ownership situational pattern, add a definition for trading strategy, and loosen the constraint on offeree for offering to be optional.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to replace hasDefinition with isDefinedIn to clarify intent.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to replace the property 'characterizes' with 'describes' with respect to restrictions on catalogs, and to correct the label on terminated trade.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/ProductsAndServices/FinancialProductsAndServices/ version of this ontology was modified to revise the definition of a unique transaction identifier to align with ISO 23897 and to address text formatting issues.
has maturity level: Release
copyright: Copyright (c) 2015-2025 EDM Council, Inc.
copyright: Copyright (c) 2015-2025 Object Management Group, Inc.

agency agreement
type: Class
subclass of: WrittenContract
subclass of: Restriction
  on property: hasContractParty
  some values from: registered agent
definition: agreement that designates a party as a registered agent to represent and act on behalf of another party in some, typically legal, financial, or medical capacity

agent for service of process
type: Class
subclass of: registered agent
definition: registered agent (person or organization) designated by a business entity, such as a corporation, to receive legal correspondence on behalf of the business entity in the jurisdiction in which the agent's address is located
explanatory note: The person may be an officer of the corporation or a third party, such as the corporation's attorney, or a company providing such agency services.

amended trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the lifecycle of a trade indicating that a change or addition has been made to the terms of the trade, leaving the original terms largely intact

basket
type: Class
subclass of: Collection
subclass of: Restriction
  on property: has selecting party
  on class: Party
  min qualified cardinality: 0
subclass of: Restriction
  on property: has selection criteria
  min qualified cardinality: 0
  on data range: string
subclass of: Restriction
  on property: hasMember
  some values from: basket constituent
definition: collection of goods, services, or other things (e.g., financial contracts) that can be purchased and sold in some marketplace
explanatory note: A basket may be associated with a specific market sector, and may be delineated for the purposes of statistical analysis, such as for calculating CPI. According to the US Bureau of Labor Statistics (BLS), with respect to the CPI, a market basket is a package of goods and services that consumers purchase for day-to-day living. The weight of each item is based on the amount of expenditure reported by a sample of households.
explanatory note: From a securities perspective, a basket is a collection of products or securities that are designated to mimic the performance of a market. For investors, the market basket is the principal idea behind index funds, which are essentially a broad sample of stocks, bonds or other securities in the market; this provides investors with a benchmark against which to compare their investment returns.

basket constituent
type: Class
subclass of: Constituent
equivalent class: Restriction
  on property: isConstituentOf
  some values from: basket
definition: component of a basket

broker
type: Class
subclass of: ContractThirdParty
subclass of: Class
  union of: licensed agent
  union of: third-party agent
definition: any party that acts as an intermediary between a buyer and a seller, usually charging a commission
adapted from: 17 CFR 45.1, Definitions - see the definition of agent
explanatory note: A broker that specializes in stocks, bonds, commodities, or certain derivatives must be registered with the exchange in which the securities are traded.

broker-dealer
type: Class
subclass of: FunctionalEntity
subclass of: Class
  union of: broker
  union of: dealer
definition: any party in the business of buying and selling securities, operating as both a broker and a dealer, depending on the transaction
adapted from: Office of Financial Research (OFR) Annual Report, 2012, Glossary

catalog
type: Class
subclass of: Publication
subclass of: Restriction
  on property: isIdentifiedBy
  all values from: Identifier
subclass of: Restriction
  on property: describes
  some values from: Product
definition: publication including a list of products available for sale with their descriptions and possibly prices

cleared trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the lifecycle of a trade indicating that a third-party clearing house, acting as an intermediary, has reconciled the orders involved in the trade
explanatory note: Clearing validates the availability of funds, records the transfer, and in the case of securities ensures the delivery of the security to the buyer.

closed trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the lifecycle of a trade indicating that the trade has been finalized, and that there is no longer a corresponding open position on the books of the trader, eliminating any exposure

contract lifecycle
type: Class
subclass of: Lifecycle
subclass of: Restriction
  on property: hasStage
  some values from: contract lifecycle stage
subclass of: Restriction
  on property: isLifecycleOf
  some values from: Contract
subclass of: Restriction
  on property: defines
  some values from: contract lifecycle stage
definition: lifecycle of an agreement, including, but not limited to a credit agreement, financial instrument, or other formal contract, from initial stages through retirement
explanatory note: Certain business agreements, such as partnership agreements,may involve planning, drafting/review/revision, execution and management, renewal, and possibly sunsetting phases. Financial contracts, such as loans and other instruments have specific stages and events during the execution and management phase, i.e. from the effective date of the contract through maturity and redemption.

contract lifecycle event
type: Class
subclass of: LifecycleEvent
subclass of: Restriction
  on property: succeeds
  on class: contract lifecycle event
  min qualified cardinality: 0
subclass of: Restriction
  on property: classifies
  on class: contract lifecycle event occurrence
  min qualified cardinality: 0
subclass of: Restriction
  on property: appliesTo
  some values from: contract lifecycle stage
definition: kind of event that occurs during one or more stages of the lifecycle of an agreement
example: a call notification or coupon payment as a part of a bond lifecycle

contract lifecycle event occurrence
type: Class
subclass of: LifecycleEventOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: contract lifecycle event
  qualified cardinality: 1
subclass of: Restriction
  on property: isClassifiedBy
  some values from: contract lifecycle event
subclass of: Restriction
  on property: appliesTo
  some values from: contract lifecycle stage occurrence
definition: actual occurrence of an event during a specific stage of a specific contract lifecycle

contract lifecycle occurrence
type: Class
subclass of: LifecycleOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: contract lifecycle
  qualified cardinality: 1
subclass of: Restriction
  on property: hasStage
  some values from: contract lifecycle stage occurrence
definition: realization of the lifecycle of a specific contract

contract lifecycle stage
type: Class
subclass of: LifecycleStage
subclass of: Restriction
  on property: succeeds
  on class: contract lifecycle stage
  min qualified cardinality: 0
subclass of: Restriction
  on property: isStageOf
  some values from: contract lifecycle
subclass of: Restriction
  on property: classifies
  some values from: Contract
subclass of: Restriction
  on property: comprises
  some values from: contract lifecycle event
subclass of: Restriction
  on property: isDefinedIn
  some values from: contract lifecycle
definition: phase in the lifecycle of an agreement

contract lifecycle stage occurrence
type: Class
subclass of: LifecycleStageOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: contract lifecycle stage
  qualified cardinality: 1
subclass of: Restriction
  on property: isStageOf
  some values from: contract lifecycle occurrence
subclass of: Restriction
  on property: comprises
  some values from: contract lifecycle event occurrence
definition: realization, from start to finish of a phase in an occurrence of a specific contract lifecycle

dealer
type: Class
subclass of: ServiceProvider
subclass of: Class
  union of: Buyer
  union of: Seller
definition: any party that purchases goods or services for resale and acts on their own behalf in a transaction
explanatory note: A dealer is a counterparty or principal in the transaction with the customer.

exposure
type: Class
subclass of: Restriction
  on property: appliesTo
  some values from: Party
definition: the extent to which an individual or organization is unprotected and open to damage, danger, risk of suffering a loss, or uncertainty
example: Examples include financial exposure, credit exposure, legal exposure, credit rating exposure, reputational exposure, and so forth.

financial exposure
type: Class
subclass of: exposure
subclass of: Expression
definition: the extent to which an individual or organization is open to risk of suffering a loss in a transaction, or with respect to some investment or set of investments, e.g., some holding; the amount one stands to lose in that transaction or investment
example: Examples in banking include the total amount of unsecured loans, the amount of loans advanced to a single borrower, group, industry, or country, and the probability of loss from devaluation, revaluation, or foreign exchange fluctuations.

financial intermediation service
type: Class
subclass of: financial service
definition: any financial service in which a third party (the intermediary) matches lenders and investors with entrepreneurs and other borrowers in need of capital
definition origin: Office of Financial Research (OFR) Annual Report, 2012, Glossary
explanatory note: Often investors and borrowers do not have precisely matching needs, and the intermediary's capital is put at risk to transform the credit risk and maturity of the liabilities to meet the needs of investors.

financial product
type: Class
subclass of: Product
subclass of: Restriction
  on property: isProvidedBy
  some values from: financial service provider
definition: product provided to consumers and businesses by financial institutions such as banks, insurance companies, brokerage firms, consumer finance companies, and investment companies

financial product catalog
type: Class
subclass of: catalog
subclass of: Restriction
  on property: describes
  some values from: financial product
definition: catalog of financial products and/or services available for sale with their description and other product details
adapted from: Nordea Bank

financial service
type: Class
subclass of: Service
subclass of: Restriction
  on property: isProvidedBy
  some values from: financial service provider
definition: service provided to consumers and businesses by financial institutions such as banks, insurance companies, brokerage firms, consumer finance companies, and investment companies

financial service provider
type: Class
subclass of: FunctionalBusinessEntity
subclass of: ServiceProvider
subclass of: Restriction
  on property: isPlayedBy
  on class: LegalEntity
  qualified cardinality: 1
subclass of: Restriction
  on property: provides
  some values from: financial service
definition: functional entity either licensed to provide financial services to consumers and/or businesses or established by law to provide financial services, such as a central bank

holding
type: Class
subclass of: Ownership
subclass of: Restriction
  on property: hasOwnedAsset
  some values from: Asset
definition: real or personal property (assets), including but not limited to financial assets, to which one holds title and of which one has possession
explanatory note: Note that a holding may refer to a single asset, such as a piece of real estate, a portfolio of assets, multiple portfolios, and so forth, and is frequently aggregated over multiple assets.

legal agent
type: Class
subclass of: AgentRole
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: hasCapacity
    some values from: DelegatedLegalAuthority
definition: any party that has been legally empowered to act on behalf of another party
adapted from: 17 CFR 45.1, Definitions - see the definition of agent

licensed agent
type: Class
subclass of: ResponsibleParty
subclass of: legal agent
subclass of: Licensee
definition: any individual who is licensed to perform a legally binding function, and who has been legally empowered to act on behalf of another party
example: Insurance agents, realtors, financial advisors, certain attorneys, and brokers are examples of legal agents.
adapted from: 17 CFR 45.1, Definitions - see the definition of agent

matured trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the lifecycle of a trade indicating that the trade, and related instrument(s) has ended (expired)

offeree
type: Class
subclass of: PartyRole
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: isAPartyTo
    some values from: offering
definition: party that receives an offer from something from someone (i.e., an offerer) based on the terms of the offering

offering
type: Class
subclass of: Restriction
  on property: hasPartyRole
  on class: offeree
  min qualified cardinality: 0
subclass of: Restriction
  on property: isIssuedBy
  some values from: offeror
subclass of: Restriction
  on property: appliesTo
  some values from: Thing
subclass of: Restriction
  on property: hasPartyRole
  some values from: offeror
definition: expression of interest in providing something to someone that is contingent upon acceptance, forbearance, or some other consideration, as might be desired by an offeree(s)
explanatory note: The making of an offer is the first of three steps in the traditional process of forming a valid contract: an offer, an acceptance of the offer, and an exchange of consideration. (Consideration is the act of doing something or promising to do something that a person is not legally required to do, or the forbearance or the promise to forbear from doing something that he or she has the legal right to do.)
usage note: An offering may or may not be considered a 'state of affairs' or situation, depending on the circumstances. In some cases such as a prospectus or other offering in the context of financial services, an offering may also be classified as a situation. Users may choose to model an individual offering as both an offering and situation, depending on the circumstances, in other words.

offeror
type: Class
subclass of: PartyRole
subclass of: Restriction
  on property: issues
  some values from: offering
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: isAPartyTo
    some values from: offering
definition: party that proposes to make something available to someone (i.e., an offeree) based on the terms of the offering

open trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the lifecycle of a trade indicating that the trade has been established and there is an associated open position on the books of the trader as a consequence

position
type: Class
subclass of: holding
definition: investor's stake, i.e., a holding, in a particular asset (such as an individual security)
explanatory note: A position can be long or short, and it can be in any asset class, such as stocks, bonds, futures, or options. A position can be open (current) or closed (past), but in general use, unless a position is specifically referred to as closed, the assumption is that it references an open position.

product lifecycle
type: Class
subclass of: Lifecycle
subclass of: Restriction
  on property: hasStage
  some values from: product lifecycle stage
subclass of: Restriction
  on property: isLifecycleOf
  some values from: Product
subclass of: Restriction
  on property: defines
  some values from: product lifecycle stage
definition: lifecycle specific to a product or product family
example: The product life cycle describes the period of time over which an item is developed, brought to market and eventually removed from the market. The cycle is broken into four stages: introduction, growth, maturity and decline. The idea of the product life cycle is used in marketing to decide when it is appropriate to advertise, reduce prices, explore new markets or create new packaging.

product lifecycle event
type: Class
subclass of: LifecycleEvent
subclass of: Restriction
  on property: succeeds
  on class: product lifecycle event
  min qualified cardinality: 0
subclass of: Restriction
  on property: classifies
  on class: product lifecycle event occurrence
  min qualified cardinality: 0
subclass of: Restriction
  on property: appliesTo
  some values from: product lifecycle stage
definition: kind of event that occurs during one or more stages of a product lifecycle

product lifecycle event occurrence
type: Class
subclass of: LifecycleEventOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: product lifecycle event
  qualified cardinality: 1
subclass of: Restriction
  on property: appliesTo
  some values from: product lifecycle stage occurrence
definition: actual occurrence of an event that happens during a specific stage of a specific product lifecycle

product lifecycle occurrence
type: Class
subclass of: LifecycleOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: product lifecycle
  qualified cardinality: 1
subclass of: Restriction
  on property: hasStage
  some values from: product lifecycle stage occurrence
definition: realization of the lifecycle of a specific product

product lifecycle stage
type: Class
subclass of: LifecycleStage
subclass of: Restriction
  on property: succeeds
  on class: product lifecycle stage
  min qualified cardinality: 0
subclass of: Restriction
  on property: isStageOf
  some values from: product lifecycle
subclass of: Restriction
  on property: classifies
  some values from: Product
subclass of: Restriction
  on property: comprises
  some values from: product lifecycle event
subclass of: Restriction
  on property: isDefinedIn
  some values from: product lifecycle
definition: phase in a product lifecycle
example: research and development phase of a product lifecycle or the introduction phase in a marketing lifecycle, growth stage in an economic lifecycle for a product

product lifecycle stage occurrence
type: Class
subclass of: LifecycleStageOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: product lifecycle stage
  qualified cardinality: 1
subclass of: Restriction
  on property: isStageOf
  some values from: product lifecycle occurrence
subclass of: Restriction
  on property: comprises
  some values from: product lifecycle event occurrence
definition: realization of a specific stage in the lifecycle of a given product

registered agent
type: Class
subclass of: legal agent
subclass of: ContractParty
subclass of: Restriction
  on property: isPlayedBy
  some values from: Class
    intersection of: Restriction
      on property: isAPartyTo
      some values from: agency agreement
    intersection of: Restriction
      on property: isRecognizedIn
      some values from: Jurisdiction
definition: legal agent designated by some party to represent them and act on their behalf under a formal agency agreement
explanatory note: Agency capacity, as specified in an agency agreement, may include power of attorney, the ability to act as an agent in certain kinds of transactions such as real estate, tax, audit or other financial or legal transactions, as a fiduciary, including as a trustee or legal guardian, for service of process, and so forth.
synonym: resident agent
synonym: statutory agent

regulated commodity
type: Class
subclass of: Commodity
subclass of: Restriction
  on property: isRegulatedBy
  all values from: RegulatoryAgency
subclass of: Restriction
  on property: isGovernedBy
  some values from: Jurisdiction
definition: commodity under the jurisdiction of the regulatory agency, such as the Commodities Futures Trading Commission (CFTF) in the United States, which includes any commodity traded in an organized contracts market
explanatory note: The CFTC polices matters of information and disclosure, fair trading practices, registration of firms and individuals, protection of customer funds, record keeping, and maintenance of orderly options and futures markets in the United States.

settlement terms
type: Class
subclass of: ContractualCommitment
subclass of: Restriction
  on property: has settlement date
  all values from: Date
definition: contract terms that define the commitment to and mechanism for settling one or more sides of a transaction
explanatory note: In general, settlement involves arrangement of disposition of property, typically for legal reasons. With respect to financial transactions, it involves completion of a trade, either between brokers or agents, or between a broker and client. This may include settlement in cash, either for the entire transaction or for the cash leg of a transaction, either now or at some specified time in the future.

terminated trade
type: NamedIndividual
type: trade lifecycle stage
definition: stage in the trade lifecycle in which the trade has been terminated early, i.e., prior to maturity
explanatory note: Early termination may be triggered by a position sell or early termination provision, such as auto call/cancel, knock-out, etc.

third-party agent
type: Class
subclass of: legal agent
subclass of: Licensee
subclass of: ServiceProvider
definition: any service provider that is licensed to perform a legally binding function and has been legally empowered to act on behalf of another party
adapted from: 17 CFR 45.1, Definitions - see the definition of agent
usage note: Note that third-party agent is defined as a service provider (organization) acting in an agency capacity, such as a law firm, accountancy, or investment bank. This is distinct from the concept of an individual (licensed agent), for example one who works for a broker-dealer, that is a registered agent licensed to sell securities.

trade
type: Class
subclass of: Situation
subclass of: Restriction
  on property: succeeds
  on class: trade
  min qualified cardinality: 0
subclass of: Restriction
  on property: isIdentifiedBy
  on class: trade identifier
  min qualified cardinality: 0
subclass of: Restriction
  on property: isCharacterizedBy
  on class: trade lifecycle
  min qualified cardinality: 0
subclass of: Restriction
  on property: is facilitated by
  on class: trader
  min qualified cardinality: 0
subclass of: Restriction
  on property: is embodied in
  some values from: Contract
subclass of: Restriction
  on property: hasBuyer
  some values from: Buyer
subclass of: Restriction
  on property: hasSeller
  some values from: Seller
subclass of: Restriction
  on property: involves
  some values from: Class
    union of: Good
    union of: Service
    union of: Contract
definition: situation that realizes an agreement between parties participating in a voluntary action of buying and selling goods and services
adapted from: Deutsche Bank Presentation on the Lifecycle of a Trade, available at http://www.slideshare.net/ahaline/23512555-tradelifecycle
explanatory note: The advent of money as a medium of exchange has allowed trade to be conducted in a manner that is much simpler and effective compared to earlier forms of trade, such as bartering. In financial markets, trading also can mean performing a transaction that involves the selling and purchasing of a security.
explanatory note: The seller must deliver the commodity sold to the buyer; the buyer must pay the agreed purchase price, which could be in the form of other goods or services, on the agreed date.
explanatory note: Trading activities typically include (a) regularly underwriting or dealing in securities; interest rate, foreign exchange rate, commodity, equity, and credit derivative contracts; other financial instruments; and other assets for resale, (b) acquiring or taking positions in such items principally for the purpose of selling in the near term or otherwise with the intent to resell in order to profit from short-term price movements, and (c) acquiring or taking positions in such items as an accommodation to customers or for other trading purposes. (Source: Instructions for Preparation of Consolidated Reports of Condition and Income (FFIEC 031 and 041), Schedule RC-D - Trading Assets and Liabilities, 2013.

trade identifier
type: Class
subclass of: Identifier
subclass of: Restriction
  on property: identifies
  some values from: trade
definition: sequence of characters identifying a trade within some context
note: Note that a given trade may consist of multiple transactions, and thus there may be multiple identifiers for such transactions associated with a specific trade.

trade lifecycle
type: Class
subclass of: Lifecycle
subclass of: Restriction
  on property: hasStage
  some values from: trade lifecycle stage
subclass of: Restriction
  on property: isLifecycleOf
  some values from: trade
subclass of: Restriction
  on property: defines
  some values from: trade lifecycle stage
definition: lifecycle that defines the evolution of a trade, from initiation through settlement
example: The trade life cycle covers the period of time over which a trade is initiated, typically as a part of a broader deal, is consumated, processed and executed, is settled or closed for other reasons, and is reported. Parts of a trade lifecycle may include or overlap with the lifecycle of one or more contracts.

trade lifecycle event
type: Class
subclass of: LifecycleEvent
subclass of: Restriction
  on property: succeeds
  on class: trade lifecycle event
  min qualified cardinality: 0
subclass of: Restriction
  on property: classifies
  on class: trade lifecycle event occurrence
  min qualified cardinality: 0
subclass of: Restriction
  on property: appliesTo
  some values from: trade lifecycle stage
definition: kind of event that occurs during one or more stages of the lifecycle of a trade

trade lifecycle event occurrence
type: Class
subclass of: LifecycleEventOccurrence
subclass of: Restriction
  on property: succeeds
  on class: trade lifecycle event occurrence
  min qualified cardinality: 0
subclass of: Restriction
  on property: exemplifies
  on class: trade lifecycle event
  qualified cardinality: 1
subclass of: Restriction
  on property: appliesTo
  some values from: trade lifecycle stage occurrence
definition: realization of an event that happens during a specific stage of a specific trade lifecycle

trade lifecycle occurrence
type: Class
subclass of: LifecycleOccurrence
subclass of: Restriction
  on property: exemplifies
  on class: trade lifecycle
  qualified cardinality: 1
subclass of: Restriction
  on property: hasStage
  some values from: trade lifecycle stage occurrence
definition: realization of the lifecycle for a specific trade

trade lifecycle stage
type: Class
subclass of: LifecycleStage
subclass of: Restriction
  on property: succeeds
  on class: trade lifecycle stage
  min qualified cardinality: 0
subclass of: Restriction
  on property: isStageOf
  some values from: trade lifecycle
subclass of: Restriction
  on property: classifies
  some values from: trade
subclass of: Restriction
  on property: comprises
  some values from: trade lifecycle event
subclass of: Restriction
  on property: isDefinedIn
  some values from: trade lifecycle
definition: phase in the lifecycle of a trade

trade lifecycle stage occurrence
type: Class
subclass of: LifecycleStageOccurrence
subclass of: Restriction
  on property: succeeds
  on class: trade lifecycle stage occurrence
  min qualified cardinality: 0
subclass of: Restriction
  on property: exemplifies
  on class: trade lifecycle stage
  qualified cardinality: 1
subclass of: Restriction
  on property: isStageOf
  some values from: trade lifecycle occurrence
subclass of: Restriction
  on property: comprises
  some values from: trade lifecycle event occurrence
definition: realization of a phase in the lifecycle of a specific trade

trader
type: Class
subclass of: ServiceProvider
subclass of: Restriction
  on property: facilitates
  some values from: trade
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: hasCapacity
    some values from: ContractualCapability
definition: party that engages in the transfer of financial assets in any financial market on behalf of a client or the financial services provider

trading strategy
type: Class
subclass of: Strategy
definition: approach used for buying and selling in the securities markets
explanatory note: A trading strategy is a plan whose aim is to make a profit or hedge against risk, based on rules and other criteria used when making trading decisions. A trading strategy may be simple or complex, and involve considerations such as investment style (e.g., value vs. growth), market cap, technical indicators, fundamental analysis, industry sector, level of portfolio diversification, time horizon or holding period, risk tolerance, leverage, tax considerations, and so on.

unique transaction identifier
type: Class
subclass of: trade identifier
subclass of: Restriction
  on property: has generating entity
  some values from: LegalEntity
definition: sequence of characters identifying a financial transaction uniquely whenever useful and agreed by the parties or community involved in the transaction
abbreviation: UTI
adapted from: Harmonization of the Unique Transaction Identifier - Technical Guidance, 20 Feb 2017, described in https://www.bis.org/cpmi/publ/d158.pdf
adapted from: ISO 23897:2020, Financial services - Unique transaction identifier (UTI)
explanatory note: In particular, a UTI will help to ensure the consistent aggregation of OTC derivatives and other securities transactions by minimising the likelihood that the same transaction will be counted more than once (for instance, because it is reported by more than one counterparty to a transaction, or to more than one trade repository (TR)).

weighted basket
type: Class
subclass of: basket
subclass of: StructuredCollection
subclass of: Restriction
  on property: hasMember
  some values from: weighted basket constituent
subclass of: Restriction
  on property: hasExpression
  some values from: WeightingFunction
definition: basket whose constituents have some relative importance with respect to one another

weighted basket constituent
type: Class
subclass of: basket constituent
subclass of: Restriction
  on property: hasWeight
  on data range: decimal
  qualified cardinality: 1
definition: component of a basket whose relative importance with respect to other basket constituents is known

facilitates
type: ObjectProperty
sub property of: playsActivePartyIn
definition: acts as an enabler in a situation in which an event, a task, a conversation or something else occurs

has generating entity
type: ObjectProperty
sub property of: generates
range: LegalEntity
definition: specifies a legal entity that generates something

has generating entity identifier
type: ObjectProperty
domain: unique transaction identifier
property chain axiom: has generating entity
property chain axiom: isIdentifiedBy
definition: specifies an identifier for the entity that generated a unique transaction identifier
explanatory note: Note that the range of is identified by must be that entity's LEI in the context of a UTI.

has registered agent
type: ObjectProperty
sub property of: hasPartyRole
range: legal agent
definition: identifies a party as one that has the legal, medical or financial capacity to act on behalf of someone else under specific circumstances

has nominal number of units
type: DatatypeProperty
sub property of: hasAmount
range: integer
definition: indicates the base number of units of something associated with some offering

has offering
type: ObjectProperty
range: offering
inverse of: is offering of
definition: relates something to a voluntary but conditional promise submitted by a buyer or seller (offeror) to another (offeree) for acceptance, and which becomes legally enforceable if accepted by the offeree

has offering amount
type: ObjectProperty
sub property of: hasNotionalAmount
range: MonetaryAmount
definition: indicates the notional monetary amount, determined based on reference data, market rates or some other agreed method associated with some offering

has offering price
type: ObjectProperty
sub property of: hasPrice
range: MonetaryPrice
definition: indicates the price associated with an offering, which may be an explicit or calculated price

has offering units
type: DatatypeProperty
sub property of: hasAmount
range: integer
definition: indicates the actual number of units of something, including any premium on the number of units, associated with some offering

has selecting party
type: ObjectProperty
sub property of: hasParty
range: Party
definition: indicates the person(s) or organization(s) responsible for determining the contents of a basket

has selection criteria
type: DatatypeProperty
sub property of: hasTextValue
domain: Collection
definition: describes the methodology or program used to determine the membership of a collection

has settlement date
type: ObjectProperty
sub property of: hasEndDate
range: CalculatedDate
definition: indicates the date by which an executed order or transaction must be settled
explanatory note: Settlement might involve either a buyer paying in cash or a seller delivering the relevant instrument(s) and receiving the proceeds as specified by the terms of a given transaction.

has trade date
type: ObjectProperty
sub property of: hasDate
range: Date
definition: indicates the date on which a security or other instrument-specific trade actually takes place

is embodied in
type: ObjectProperty
inverse of: embodies
definition: identifies the representation or tangible form of something in some context

is facilitated by
type: ObjectProperty
sub property of: hasActiveParty
inverse of: facilitates
definition: identifies someone or something that expedites some event, transaction, conversation or something else in some context

is offering of
type: ObjectProperty
domain: offering
definition: relates an offering to one or things that are the subject of the offer

relates to
type: ObjectProperty
definition: has a logical or causal connection with

Product
type: Class
subclass of: Restriction
  on property: isCharacterizedBy
  on class: catalog
  min qualified cardinality: 0
subclass of: Restriction
  on property: hasLifecycle
  on class: product lifecycle
  min qualified cardinality: 0