The EDM Council is a 501(c)(6) non-profit trade association founded by the financial industry to elevate the practice of data management as a business and operational priority. The Council is a leading advocate for the development and implementation of data content standards and the publication of data management best practices.
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Program of Work
DATA CONTENT Standards
The EDM Council is a global advocate for the development and implementation of the standards-based infrastructure needed for effective data management. The Council originated and is the steward of the Financial Industry Business Ontology (FIBO) – the common language standard for defining the terms, facts and relationships associated with financial contracts. The Council is also an active participant in the development of standards for the unique and precise identification of financial instruments and business entities.
FIBO Foundations and Business Entities Unanimously Approved by OMG
All official components of the EDM Council/OMG FIBO standard can be found at
Industry Best Practices
The EDM Council documents and publishes best practices in data management. We have licensed our core content and best practices documentation to the CMMI Institute of Carnegie Mellon University to produce the Data Management Maturity (DMM) assessment methodology. The DMM defines requirements, capabilities and measurement criteria on data management strategy, business case, governance, standards, and data quality management. In addition to best practices, the Council performs industry benchmarking studies and tracks progress in the practice of data management.
DATA IMPLICATioNS OF ReGULATION
The EDM Council is a trusted subject matter expert on the issues associated with data management. We provide consultation and advice to members, regulators and market authorities on the data implications associated with legislative and regulatory obligations. Our goal is to help all financial industry participants understand the practical data and standards implications associated with legislative and regulatory requirements. We are members of numerous regulatory, standards and industry advisory bodies and are working to implement regulation that supports the business and operational needs of financial institutions as well as the oversight requirements of market authorities.
The Council is managed as a neutral business forum for financial institutions, data vendors, technology companies, strategic consultants, software providers, academia, regulators and market authorities. We provide a mechanism for all segments of the global financial information industry to meet and establish business relationships. We host networking receptions, facilitate introductions and connect members to advance the practice of data management. We are proud to be recognized as the global meeting ground for the financial industry.