For financial stuff, I might look first and foremost (because of its
practical use) to FIX - the Financial Information Exchange
(www.fixprotocol.org) and then secondarily to the detailed sematic if ISO
20022 (01)
tc (02)
"He who fights with monsters should look to it that he himself does not
become a monster, and if you stare long into an abyss, the abyss also stares
into you." - Fredrich Nietzche (03)
Toby Considine
TC9, Inc
TC Chair: oBIX & WS-Calendar
TC Editor: EMIX, EnergyInterop
U.S. National Inst. of Standards and Tech. Smart Grid Architecture Committee (04)
Email: Toby.Considine@xxxxxxxxx
Phone: (919)619-2104
http://www.tcnine.com/
blog: www.NewDaedalus.com (05)
-----Original Message-----
From: ontolog-forum-bounces@xxxxxxxxxxxxxxxx
[mailto:ontolog-forum-bounces@xxxxxxxxxxxxxxxx] On Behalf Of Mike Bennett
Sent: Thursday, July 07, 2011 12:37 PM
To: [ontolog-forum]
Subject: Re: [ontolog-forum] Why most classifications are fuzzy (06)
David, (07)
There is no problem describing financial products ontologically.
Calipers are not a requirement. All financial products are contracts, and
contracts are a real thing regardless of whether they consist of paper in a
vault (as a few still do) or are maintained electronically. (08)
If you don't think contracts are real, try breaking one :) (09)
The dimensions along which they are defined are, as you rightly suggest,
where it gets interesting. One look at the ISO 10962 Classification of
Financial Instruments standard will show what a challenge it is to try and
articificially shoe-horn the whole lot into one dimension - you simply
can't. (010)
Mike (011)
On 07/07/2011 16:21, David Eddy wrote:
> John -
>
> On 2011-07-06, at 12:45 PM, John F. Sowa wrote:
>
>> And a warning: Unless you can find an immutable law of nature that
>> creates a classification, don't expect it to be a solid foundation
>> for a "standard ontology".
> Agreed.
>
> My view of (imagined) reality has been largely financial services
> (e.g. mutual funds, brokerage, banking,& various forms of insurance).
> In my career, I have only worked directly for a single firm that
> actually made a physical product (junk jewelry)...
> otherwise everything has been paper pushing, describing various facets
> of non-dimensional products.
>
> Quite naturally, since these industries are all conjured out of thin
> air, there are no natural laws to impose organizational discipline.
>
> From what I've seen, "organization" is largely the last minute panic
> to make the next deadline. Does tend to leave a chaotic residue which
> only gets worse over time.
>
>
> Since this ontology interest has arisen, it has been rattling around
> in the back of my mind if ontologies can be applied to things like
> financial "products."
>
>
> Personally I vacillate between describing financial "products" as
> either "non-dimensional" or "N-dimensional." In any case these
> products are stuff that cannot be put on a scale& weighted or have a
> caliper applied to them. It's just information which as far as I know
> we have no idea how to measure other than silly things like "lines of
> code."
>
> ___________________
> David Eddy
> deddy@xxxxxxxxxxxxx
>
>
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> (012)
--
Mike Bennett
Director
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