In our industry, precision of data matters. Unfortunately, the semantics (terms, business meaning, rules and context) rarely reside and travel along with the data. This results in a never ending process of mapping and way too much manual reconciliation. It makes it hard to perform analytics and feed our models with confidence. It increases the cost of integrating data and automating workflow. This lack of provenance and traceability reduces confidence in our data factors of input, leads to compliance conflicts and increases the cost of doing business. And if we add to the equation the necessity of data comparability to meet the new global regulatory objectives of transparency, systemic risk analysis and financial stability - - we begin to get the true picture of the business value and role of semantics for the financial industry.

Conference Objective:
The objective of this event is to help participants better understand the role of semantics in meeting both business processing and regulatory oversight objectives. You will learn about the Financial Industry Business Ontology (FIBO) standard for business entities, financial instruments and loans - and how the representation of these business concepts will improve reliability and facilitate data comparability. Sessions will also focus on the semantics' business case, the regulatory drivers for data comparability as well as on semantics implementation within operational environments.

Key Meeting Topics:
This exciting, one day event will bring together distinguished leaders and practitioners from private and public sector to illustrate why defining and managing the financial services semantics is the Achilles’ Heel of this industry. Throughout the day, panel members and speakers will address:

		Business semantics in context and why this topic is creating so much interest among global regulators, market authorities, and financial institutions
		The importance of 'public/private' partnerships to agree on semantic standards and enhance semantic processing capability throughout the financial ecosystem
		The role of OMG and the Finance Domain Task Force in nt driving the suite of standards required for semantic deployment
		The status and release plans for the Financial Industry Business Ontology- FIBO and how it can be used within financial institutions
		What the alignment of semantic standards for front-middle and back office operations, trade surveillance, regulatory reporting, analytics, and risk management means and how it works

Who Should Attend:
The target audience of this event will include business and IT executives from financial services, standards organizations, software vendors, reference data providers, architects and modeling communities.

Morning Session:
Creators and consumers of regulations; senior executives involved in making data-driven decisions and those responsible for trading, risk & compliance operations and analytics; senior executives responsible for data management

Afternoon Session:
Anyone involved with standards development and implementation, data architecture & modeling, business intelligence, data virtualization and Big Data analytics

Other major OMG collaborators include: XBRL, FIX Protocol, BIAN, ISO, FPML, US Government Agencies.