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Structured Products: Project Contribution and Onboarding #133

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ffionwiggins opened this issue Aug 17, 2021 · 4 comments
Closed
53 of 54 tasks

Structured Products: Project Contribution and Onboarding #133

ffionwiggins opened this issue Aug 17, 2021 · 4 comments
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@jgavronsky @Julia-Ritter
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@ffionwiggins
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ffionwiggins commented Aug 17, 2021 •
edited by Julia-Ritter
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Business Problem

The industry would like to assist and accelerate the build and support of structured products in the Common Domain Model.

1st Topic of focus
As part of Phase 2 of the FX Pilot for Legend Studio, the WG had designed a CDM event function for KnockIn (KI) lifecycle events:
See Minutes 9Jul20 for details. At the time the Studio feature for creating functions was to be built and submission was pending, but now the feature is ready for use.

The following CDM primitives formed the proposed KI function:
ObservationPrimitive
ExercisePrimitive

However the CDM event model has since evolved and these primitives are deprecated.

2nd Topic of focus
Today the CDM has representation for vanilla products across the five key derivative asset classes but is yet to define more complex payouts. As the industry progresses to adopt the CDM in trade processing more complex products will need to be supported and will offer the industry well defined standards that haven't been available to date.

Proposed Solution

1st Topic of focus
The proposed Knock In function will need further review and update, and ask is to collaborate on creating a new KI function solution for the CDM.

2nd Topic of focus
Fragmos Chain believes most of the building blocks are already available in the current state of the CDM. Expected work would mainly consist of moving/replicating existing items with some selective amendments, rather than creating many new items. The group would work together to validate this and build the code to define specific structured products of interest.

Tentative Roadmap

The group would begin by looking at the representation of the event function Knock-In and then progress to the representation of equity baskets.

The proposal would be to continue the group post completion of these two initial focus areas as the industry requires.

Current State

Summarize the history and current state of the project
finos/financial-objects#66

Development Team

Leadership

Vijayesh Chandel, Goldman Sachs, vijayesh.chandel@gs.com and GH username: Vijayesh-Chandel
Jean-Baptiste Ziadé, Fragmos Chain, jbziade@fragmos-chain.com, GH username: JBZ-Fragmos

Confirmed contributors

James - Skylight RPV
Ruddy Vincent - ISDA

Target Contributors

Industry participants in derivative products - buy side/sell side, vendors

Infrastructure needs

Describe the FINOS infrastructure you will need for this project, in addition to a GitHub repository. The FINOS team will connect with you before setting up any of this infrastructure

What's next?

Upon submission of this project proposal, the FINOS team will get in touch with you to discuss next steps.

Contribution process (v. 1.0, last updated on October 2, 2020)

Below is the list of tasks that FINOS Team and the contribution author go through in order to complete the FINOS contribution process.
Please do not edit these contents at contribution time!

FINOS Contrib POC

  • Identify and Assign FINOS Project Coordinator - @Julia-Ritter
  • Identify and Assign FINOS Strategic Advisor - @jgavronsky

Kick-off meeting

Proposal (Lead Maintainer)

  • Lead maintainer to send out announcement to community@finos.org using this template:

    Dear FINOS Community, 

We would like to propose a new FINOS project. Please review the proposal details at (_TODO: add link to the GitHub issue proposal_).

If you're interested in participating, please :+1: the GitHub issue proposal and drop a comment with your name, org and email

Thanks a lot,

Identify project meta (Lead: FINOS Contrib POC, Support: FINOS Marketing)

  • Project Name: Structured Products
    • Assess current trademark status: n/a
    • Define new project name (if applicable): structured-products
    • Design new project logo (if applicable) - see https://github.com/finos/branding/tree/master/project-logos/active-project-logos/FO%20Structured%20Products @maoo @TheJuanAndOnly99
    • Trademark new project name and logo (if applicable): n/a
  • Category and sub-category (for FINOS Landscape): Data and Business Logic > Models
  • Existing code or new Github repository: new GitHub repository
  • Team composition: lead maintainer and other maintainers: see above
  • Meetings: yes, recurring meetings to be set up
  • Meeting minutes, agenda, attendance tracking: yes, please set up automated meeting attendance tracking in the project's GH repository
  • Documentation website: no
  • Define project slug: structured-products

Maintainers, contributors and CLAs (Lead: FINOS Contrib POC, Support: FINOS infra)

  • For each maintainer identified in the previous step, collect: the following info:
    • Fullname
    • GitHub username
    • Corporate email address
  • Check if maintainers and other contributors are all covered by FINOS CLA
  • Engage with FINOS Legal team to figure out what’s needed to cover all maintainers and contributors with FINOS CLA
  • Reach out to contributors and employers to coordinate CLA signatures

Project Communication Channel(s)

  • Ask maintainers which communications channels they'd like to use
  • Asynchronous
    • GitHub Issues (public)
    • GitHub Discussions (public)
    • Groups.io
  • Synchronous
    • FINOS Slack Channel (general public Slack / leadership private Slack)
  • Create the identified communication channels during infra set up
  • Link communication channels linked front and center in the project README.md

Approval (Lead: FINOS Infra)

  • Assign issue to Executive Director (@mindthegab) to trigger voting
  • FINOS accepts the contribution (and the contribution process can move forward)

Infra setup (Lead: FINOS Infra)

  • Create group on groups.io
  • Create github repository
  • Adapt blueprint info
  • Update project README
  • Aggregate mailing lists to community@finos.org
  • Enable meeting attendance tracking

Metadata update (Lead: FINOS Infra)

Mailing list (optional)

  • Create mailing-list
  • Enable Hubspot Sync for all project mailing lists created (not available for Groups.io yet)
  • Update marketing lists (as previous item)
    • Add new list to the included "Email List" part of the filter
    • Add new list to the excluded "Email" part of the filter

Announcement (Lead: FINOS Contrib POC)
@agitana agitana changed the title Structured Products Working Group Structured Products Working Group: Standard Project Contribution and Onboarding Sep 2, 2021
@agitana agitana changed the title Structured Products Working Group: Standard Project Contribution and Onboarding Structured Products Working Group: Project Contribution and Onboarding Oct 26, 2021
@agitana agitana changed the title Structured Products Working Group: Project Contribution and Onboarding Structured Products: Project Contribution and Onboarding Oct 28, 2021
@finos-admin finos-admin mentioned this issue Oct 29, 2021
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@maoo maoo assigned jgavronsky and Julia-Ritter and unassigned maoo and agitana Feb 1, 2022
@TheJuanAndOnly99
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@maoo Fragmos needs to set approval criteria in EasyCLA. Skylight needs to set a CLA manager. Julia has reached out.

@maoo
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maoo commented Mar 15, 2022

Dear all,

we've just created a GitLab project on https://gitlab.com/finosfoundation/legend/financial-objects/structured-products ; Vijayesh and Jean-Baptiste are maintainers. Ruddy has Developer access.

The project is empty, we only added some basic content in the README.md file.

@Julia-Ritter
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Julia-Ritter commented Mar 15, 2022 via email

@Julia-Ritter
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Closing issue: Structured Products: Project Contribution and Onboarding

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@maoo @TheJuanAndOnly99 @agitana @ffionwiggins @jgavronsky @Julia-Ritter