Currency Reference Data: Standard Project Contribution and Onboarding

[ElaineFraser]

Please note that only FINOS members can propose new Standards projects. If you're interested in membership, see https://www.finos.org/membership-benefits#become-a-member.

Business Problem

The information necessary to trade and settle in currencies is wider in scope than that available from ISO 4217, and every financial organisation needs to spend time creating and managing extra codes and business meaning. A central list of currency codes, enriched with the information required for currency trading, would save financial organisations the time and effort of maintaining an independent list themselves.

Proposed Solution

A central currency model is to be created in Legend Studio and allow access to a cloud-based repository of codes agreed across different financial institutions, enriched with information not available from ISO. This will be downloadable from the cloud and fully documented via the model.

Tentative Roadmap

An initial delivery of codes based on the ISO standard will be released via the cloud in Q3 2021. Discussion on further requirements will continue in parallel, expanding the model as deemed necessary by the participants and proposing additional codes and/or features for the model, during Q3 and Q4 2021. Full details in the project roadmap.

Scope (optional)

The currency list will include all codes that are required for trading purposes.

Current State

A model has already been drafted and, now that Legend Studio supports data queries, it can be populated with the list of currencies agreed in discussions triggered from the Security Reference Data Project.

Existing Materials

https://legend.finos.org/studio/viewer/UAT-38
https://legend.finos.org/studio/-/view/UAT-28796423/entity/Model::ModelDiagram
https://github.com/finos/secref-data#currency-reference-data

Development Team

Leadership

• Elaine Fraser, Goldman Sachs
• Sailesh Pandey, Nomura
• Vijayesh Chandel, Goldman Sachs

Confirmed contributors

• Goldman Sachs
• Nomura
• ISDA

Target Contributors

Contributors should have experience of reference data modelling and/or currency trading

Infrastructure needs

Describe the FINOS infrastructure you will need for this project, in addition to a GitHub repository. The FINOS team will connect with you before setting up any of this infrastructure

• Recurring meetings: Bi-weekly WG meetings
• Mailing list: currency-ref-data@finos.org
• A project on the Legend Studio shared instance
• Other (please explain):

What's next?

Upon submission of this project proposal, the FINOS team will get in touch with you to discuss next steps.

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Contribution process (v. 1.0, last updated on May 26, 2021)

Below is the list of tasks that FINOS Team and the contribution author go through in order to complete the FINOS contribution process.
Please do not edit these contents at contribution time!

FINOS Contrib POC

• Identify and Assign FINOS Contrib POC - PoC: Juan Estrella, SA: Jane Gavronsky

Kick-off meeting

• Set up kick-off meeting with project leads to coverFINOS overview (if necessary) and FINOS Maintainers cheatsheet

Proposal (Lead Maintainer)

• Lead maintainer to send out announcement to community@finos.org using this template:

  Dear FINOS Community, 
  
  We would like to propose a new FINOS project. Please review the proposal details at (_TODO: add link to the GitHub issue proposal_).
  
  If you're interested in participating, please :+1: the GitHub issue proposal and drop a comment with your name, org and email
  
  Thanks a lot,
  

Identify project meta (Lead: FINOS Contrib POC, Support: FINOS Marketing)

• Project Name
  • Standard Name - n/a
  • Assess current trademark status - n/a
  • Define new project name (if applicable) - n/a
  • Design new project logo (if applicable)
  • Trademark new project name and logo (if applicable) - n/a
• Category and sub-category (for FINOS Landscape) - Data & Business Logic > Tick & Reference
• Existing code or new Github repository - https://github.com/finos/curref-data
• Existing code releases (and which artifact repositories are used) - n/a
• Team composition: lead maintainer and other maintainers
• Meetings (existing/yes/no) - existing meeting, see https://calendar.google.com/calendar/u/0/embed?src=finos.org_fac8mo1rfc6ehscg0d80fi8jig@group.calendar.google.com&ctz=America/New_York
• Meeting minutes, agenda, attendance tracking: yes
• Documentation website: no
• Define project slug: curref-data

Maintainers, contributors and CLAs (Lead: FINOS Contrib POC, Support: FINOS infra)

• For each maintainer identified in the previous step, collect: the following info:
  • Fullname
  • GitHub username
  • Corporate email address
• Identify other existing contributors (assuming there's a contribution history (eg Git history)
• Maintainers to determine if participants will be required to execute a Community Specification License Agreement (CSLA) or submit a Pull Request to accept the license terms.
• (optional) Check if maintainers, editors, and other participants are covered by a FINOS CSLA

Project Communication Channel(s)

• Ask maintainers which communications channels they'd like to use
  • GitHub Issues (public)
  • GitHub Discussions (public)
  • GitHub Team Discussions (public and private FINOS CLAs Required)
  • Google Groups or Groups.io
• Create the identified communication channels during infra set up
• Link communication channels linked front and center in the project README.md

Approval (Lead: FINOS Infra)

• Assign issue to Executive Director (@mindthegab) to trigger voting
  (optional). If additional socialization is required, the Executive Director may bring standards projects to the FINOS Governing Board
• FINOS accepts the contribution/new standard project (and the contribution process can move forward)

Infra setup (Lead: FINOS Infra)

• Update project badge
• Update project README
• Aggregate mailing lists to community@finos.org
• Enable meeting attendance tracking (optional)
• (optional) Onboard into legend.finos.org/studio

Metadata update (Lead: FINOS Infra)

• Add project to metadata
• Add identities, orgs and affiliations to metadata
• Add logo to FINOS landscape
  • Project is on the landscape here.
• Add maintainers emails to finos-project-maintainers@finos.org list
• Add maintainers GitHub usernames to the project-maintainers Team
• Grant Maintainer access to all maintainers (assuming they're covered by CLA) to https://gitlab.com/finosfoundation/legend/security-reference-data/currencyrefdata/-/project_members
• Enable EasyCLA
• Onboard project on LF systems (SFDC)

Mailing list (optional)

• Create mailing-list
• Enable Hubspot Sync for all project mailing lists created
• Update marketing lists
  • Add new list to the included "Email List" part of the filter
  • Add new list to the excluded "Email" part of the filter

Announcement (Lead: FINOS Contrib POC)

• Work with FINOS marketing to send out announcement to announce@finos.org , checkout announcement template at https://community.finos.org/docs/governance/Software-Projects/contribution#step-5-contribution-announcements
• Notify FINOS Contrib POC and FINOS marketing manager once the announcement has been sent out (FINOS infra)

[maoo]

FYI - Logo is now on https://landscape.finos.org/

[TheJuanAndOnly99]

@maoo Waiting on Sailesh. Nomura won't be part of the announcement regardless. GS folks would like another bank to join the project. We push for the announcement for next week (Vijay is out of office).