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Proposal: New modeling initiative on FINOS Legend shared instance
To launch a working group to continue enhancing the ISDA Common Domain Model Commodities element.
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.
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.
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.
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.
Please do not edit the below content at contribution time
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