Object Management Group
Management Group Adopts Revised Financial Services Standard
for Legal Entities;
Issue RFI to Synchronize Language in Spacecraft Ground
Needham, MA - January 9, 2017 -
The Object Management Group®
(OMG®), an international, open membership,
not-for-profit technology standards consortium, held its
quarterly Technical Meeting from December 5-9 at the Loews
Coronado Bay Hotel in Coronado, CA, USA. The meeting was
At the meeting, the OMG Board of Directors voted to adopt
Business Entities 1.1 standard. This standard, one of
the rapidly-expanding family of Financial Industry Business
Ontology® (FIBO) standards, defines financial industry
terms, definitions and synonyms for legal and business
entities that may open an account, take out a loan, or
participate in any public or private offering of securities
or other business activities that require financial
services. Like all FIBO standards, the FIBO Business
Entities standard is based on semantic web principles and
widely-adopted OMG modeling standards such as UML®, and
promotes unambiguous shared meaning that helps the financial
industry comply with new and future regulatory policies on
how to manage risk.
All OMG specifications, including the FIBO Business
Entities 1.1 standard, are available to the public for free
download. To view this and other OMG specifications, visit www.omg.org/spec/index.htm.
Technology Adoption Process Underway
OMG members voted to issue the
Glossaries, or Ontologies for the Spacecraft Ground Systems
Domain RFI. Responses to this RFI will provide the OMG
Space Domain Task Force (SDTF) with information on existing
or emerging dictionaries, glossaries, or ontologies used in
spacecraft ground systems. As an example, today different
spacecraft ground systems use many different names for the
measured points received in spacecraft telemetry, including
measurands, points, LRVs, parameters and mnemonics.
Variations in terminology increase the training and
familiarization costs for spacecraft operators and
engineers. In addition, software, documentation,
specifications and contracts suffer clarity and precision
issues due to a lack of common understanding. The SDTF aims
to normalize this language by creating a dictionary or
ontology of ground systems terminology. All organizations
that provide or use spacecraft ground systems are encouraged
to respond to the RFI, which can be found
HERE. RFI responses are requested to arrive by February 27, 2017.
The RFI will also be presented during a live webinar led by
Space DTF co-chair Brad Kizzort and OMG Technical Director
Andrew Watson at 11 am EST / 16:00 GMT on February 8, 2017,
and available on demand thereafter. Details are
Learn more about other OMG technology adoption processes
underway at www.omg.org/public_schedule.
Architecture Board Elections
During the week, OMG members elected Frederick Hirsch from
Fujitsu to the Architecture Board for a two-year term. The
following OMG members were also re-elected, to begin their
terms in March 2017:
- Manfred Koethe, 88 Solutions (two-year term)
- Elisa Kendall, Thematix Partners (one-year term)
- Sridhar Iyengar, IBM (two-year term)
- Matthew Hause, PTC (two-year term)
- Pete Rivett, Adaptive (two-year term)
During the week, OMG held informational events for the
- Cybersecurity Workshop
- Healthcare and Business Process Notation Workshop
- IIoT Standards at Work in Energy
- Industrial Internet Smart Factory Forum
- Introduction to OMG's Modeling & Middleware
Presentations on the separate events'
agendas can be found here.
Next Technical Meeting
OMG members will meet in Reston, VA, USA from March 20-24,
2017 at the Hyatt Regency Reston. Learn more here.
To learn more about OMG, visit us on Facebook,
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The Object Management Group® (OMG®) is an international,
open membership, not-for-profit technology standards
consortium with representation from government, industry and
academia. OMG Task Forces develop enterprise integration
standards for a wide range of technologies and an even wider
range of industries. OMG's modeling standards enable
powerful visual design, execution and maintenance of
software and other processes. Visit www.omg.org
for more information.
Note to editors: For a listing of all OMG
trademarks, visit http://www.omg.org/legal/tm_list.htm.
All other trademarks are the property of their respective
owners.*FIBO and Financial Industry Business Ontology are
registered trademarks of the EDM-C, used with permission.