A joint effort by OMG and the
Enterprise Data Management (EDM)
Council, the Financial Industry Business Ontology (FIBO) is an
industry initiative to define financial industry terms,
definitions and synonyms using semantic web principles such as
RDF/OWL and widely adopted OMG modeling standards such as UML.
FIBO, will contribute to transparency in the global financial
system, aid industry firms in providing a cost-effective means
for integrating disparate technical systems and message formats,
and aid in regulatory reporting by providing clear and
unambiguous meaning of data from authoritative sources.