The Fintech Open Source Foundation (FINOS) has been selected to provide an open-source repository for the common domain model (CDM), a single digital representation of trade products, events, and actions across a trade lifecycle.
This follows a request for proposal earlier this year from three trade associations: International Securities Lending Association (ISLA), International Swaps and Derivatives Association (ISDA) and International Capital Market Association (ICMA). ISLA and ISDA are both members of FINOS.
ISLA and FINOS confirmed the news to SFM and said more information will be available in the coming weeks.