The International Securities Lending Association (ISLA), International Capital Market Association (ICMA), and the International Swaps and Derivatives Association (ISDA) have announced they are seeking a third-party organization to provide an open-source repository for the Common Domain Model (CDM).
The three Associations signed a Memorandum of Understanding (MoU) in August 2021 to strengthen collaboration on the future development of the CDM, which establishes a single, common digital representation of trade events and actions across the lifecycle of financial products. The Associations are now inviting potential host organizations to provide a service proposal to meet their requirements.
Responding organizations will need to be able to:
- Provide a repository for the open-source CDM, which allows maintenance of the CDM code, open access for its consumption and use by the CDM community
- Facilitate the growth and maintenance of a community, members of which can contribute to the development of the CDM
- Allow for the governance of contributions to the CDM to be gatewayed by the Associations
- Assist in creating and maintaining awareness of the CDM within the financial services community