Design discussion on the ISDA Common Domain Model
It addresses the need for standardization in derivatives data representation, but is incremental as it focuses on early-stage design discussion without implementing a new method.
The paper discusses the design of the International Swaps and Derivatives Association's Common Domain Model (ISDA CDM), a new standard for data and process representation in derivatives, by analyzing key topics like data lineage and state transitions.
A new initiative from the International Swaps and Derivatives Association (ISDA) aims to establish a "Common Domain Model" (ISDA CDM): a new standard for data and process representation across the full range of derivatives instruments. Design of the ISDA CDM is at an early stage and the draft definition contains considerable complexity. This paper contributes by offering insight, analysis and discussion relating to key topics in the design space such as data lineage, timestamps, consistency, operations, events, state and state transitions.