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Financial Industry Business Ontology™


The EDM Council is the originator and steward of the Financial Industry Business Ontology (FIBO)™.  FIBO™ is a business conceptual ontology standard providing a description of the structure and contractual obligations of financial instruments, legal entities, market data and financial processes. 

The primary application of the business conceptual ontology is for data harmonization and for the unambiguous sharing of meaning across data repositories.  This common language (or Rosetta stone) for the financial industry supports business process automation and facilitates risk analysis.

FIBO™ is being released as a series of standards under the technical governance of the Object Management Group (OMG), with the direct involvement of EDM Council membership (see below). 

It is being created as a collaborative effort among industry practitioners, semantic technology experts and information architects to standardize the language used to precisely define the terms, conditions, and characteristics of financial instruments; the legal and relationship structure of business entities; the content and time dimensions of market data; and the legal obligations associated with issuance, corporate actions, transactions and other financial processes.

Financial Industry Business Ontology (FIBO)™ Meeting Schedule

      Meeting Schedule: FIBO Content Team (equities)
Meeting Schedule: FIBO Content Team (loans)
Meeting Schedule: FIBO Business Entities Content Team (Business Oriented)
Process Standards for the FIBO Content Team Meetings
Meeting Schedule: FIBO Foundations Review Team
Meeting Schedule: FIBO Vendor Testing Team
Meeting Schedule: OMG Finalization Task Force
Meeting Schedule: EDMC/OMG Financial Domain Task Force Joint Working Group
FIBO Meeting Notes and Presentations
FIBO Infrastructure Support for Follow Your Nose IRIs

Financial Industry Business Ontology (FIBO)™ Resources

FIBO is a collaborative project among members of the EDM Council.  Please use the links below to navigate to the appropriate repositories.  No prior registration is required for access to the Semantics Repository, the Adaptive Repository or the documentation we’ve prepared for OMG.   Access to Github Wiki requires registration; 1) register with Github, then, 2) send your Github user name to Dennis Wisnosky for permission to access FIBO domains, and 3)  log into Github before clicking the Wiki links below. 

   Semantics Repository: http://www.edmcouncil.org/semanticsrepository/index.html (downloadable information for all 29 domains of FIBO including models, spreadsheets and XLS files)
Github Working Wiki: https://github.com/edmcouncil (links to UML and RDF/OWL downloadable files for all 29 FIBO domains; requires registration to Github and access is restricted to  FIBO Team members ) 
    Foundations Wiki: https://github.com/edmcouncil/fibo/wiki/FIBO-Foundations
Foundations Test Files: https://github.com/MikeHypercube/fibo/tree/yellow/fnd
Business Entities Wiki: https://github.com/edmcouncil/fibo/wiki/FIBO-Business-Entities
Business Entities Test Files: https://github.com/dsnewman/fibo/tree/pink/be
FIBO Indices Wiki: https://github.com/edmcouncil/fibo/wiki/FIBO-Indices-and-Indicators
FIBO Loans Wiki: https://github.com/edmcouncil/fibo/wiki/FIBO-Loans
FIBO Securities and Equities Wiki: https://github.com/edmcouncil/fibo/wiki/FIBO-Securities-and-Equities
Adaptive Repository: http://us.adaptive.com/FIBO/a3/ (browse-able and searchable repository with workspaces for all ontologies)
OMG Documentation: including UML and RDF/OWL models
FIBO Foundations: http://www.omg.org/spec/EDMC-FIBO/FND/Current
FIBO Business Entities: http://www.omg.org/spec/EDMC-FIBO/BE/Current
FIBO Indices: http://www.omg.org/spec/EDMC-FIBO/IND/Current


FIBO Content Team (equities)

This is focused on the development of the final standard for common concepts to all instruments and equities.  The FCT leader is Richard Beatch, Content Architect, Bloomberg.  The EDMC leadership team ontologist is Elisa Kendall.

This FCT meets every other Monday from 11:00am-12:30pm (eastern) via Go-to-Meeting Dial in details

Forward Schedule

April 20 Securities identification and development of test individuals for Legal Entity / Financial Intermediary

May 4 Review of draft FBC document

May 18 Agenda is TBD

June 1 Agenda is TBD

June 16 or 17 Face to face meeting in Berlin (time to be determined) Agenda is TBD

FIBO Content Team (loans)

This is focused on the development of the final standard for loans and mortgages.   The Executive in Charge is Randy Gilster, SVP, Business Capability Development, Wells Fargo Home Mortgage.  The FCT leader is Lynn Calahan, Vice President, Financial Reform -Data Strategies. The team ontologist is Michael Uschold.

This FCT meets every Thursday from Noon-1:00pm (eastern) via Go-to-Meeting Dial in details.

FIBO Business Entities Content Team (Business Oriented)

This is focused on developing business content for FIBO Business Entities.  Discussion and efforts will be conceptual and business oriented.. The FIBO businesss entities content team leader is David Newman, Strategic Planning Manager, Senior Vice President, Enterprise Architecture and IT Strategy, Wells Fargo (and Chair EDM Council FIBO Initiative).

The Review Team meets every Tuesday from 11:00am-12:30pm (eastern) via Go-to-Meeting. Dial in details (subject to change).

FIBO Foundations Review Team

This is focused on ensuring that the upper ontology is extended to capture all of the essential concepts associated with financial contracts.  The Foundations Review Team Group Leader is Mike Bennett, Head of Semantics, EDM Council.  

This Working Group meets every Friday from 12:30pm-2:00pm (eastern) via via Go-to-Meeting. Dial in details (subject to change).

FIBO Vendor Testing Team

This is focused on the deployment of FIBO in commercial models and vendor deployment environments.  The Vendor Team Working Group leader is Dennis Wisnosky, Senior Advisor, EDM Council (and overall FIBO lead).

This Working Group meets every Wednesday from 12:00pm-1:00pm (eastern) via Go-to-Meeting Dial in details (subject to change).

OMG Finalization Task Force

This is a formal review of any technical or structural issues raised via the OMG public review process.  The Task Force Chair is Dennis Wisnosky, Senior Advisor, EDM Council.

The Task Force meets every Tuesday from 2:00pm-3:00pm (eastern) via Go-to-Meeting Dial in details (subject to change).

EDM Council/OMG Joint Working Group

This is an update on the overall status relating to the work of the EDMC/OMG Finance Domain Task Force. The FDTF leader is Mike Bennett.

This Task Force meets the first Wednesday of each month from 1:30pm-2:30pm (eastern) via Go-to-Meeting Dial in details.


EDM Council members are welcome and encouraged to participate in the FIBO development process.  Complete information about the development process, the FIBO ecosystem and our collaboration mechanism is defined in the “FIBO Build, Test, Deploy and Maintain document”.

The baseline for FIBO (Foundations, Business Entities and Indices/Indicators) was developed by EDM Council staff along with our leadership team of ontologists and architects.  There are now multiple FIBO Content Teams (FCTs) underway under the leadership of EDM Council members.  FCTs consist of subject matter experts and qualified architects who have agreed to review, validate and extend the existing domain ontology, ensure its expression in RDF/OWL and help navigate the model through the OMG standards process.

The EDM Council has assembled a state-of-the-art collaboration process for the coordination and management of FIBO as an open source standard.  We use GitHub as the primary repository for all FIBO artifacts.  Jenkins is the automated testing platform for FIBO and JIRA is the tracking mechanism for all issues.  Together these components make up the FIBO process for supporting industry-wide technical collaboration.

For more information on the FIBO development process, participation in the FCT activities and access to the collaboration resources, please contact Dennis Wisnosky (FIBO lead) or Mike Bennett (FIBO Architect and Standards Lead)