Trade associations seek an open-source repository for the Common Domain Model

Trade associations seek an open-source repository for the Common Domain Model

REGnosys CEO, Leo Labeis, shares his thoughts on the news that ISDA, ICMA and ISLA are seeking a third-party organisation to provide an open-source repository for the Common Domain Model (CDM): 

“Finding an open-source repository for the CDM is an important step in the project’s evolution. Crucially, it will foster greater collaboration between the industry community in the move to standardise trade processing.  

“The CDM dramatically improves processing efficiency through the sharing of core but non-differentiating code between industry members. For instance, in the CDM’s Digital Regulatory Reporting application, participants are collaborating to build an open-source, standardised and machine-executable interpretation of the reporting rules. 

“Having a place where the CDM can reside longer-term has been a key priority to allow transparency in the project’s governance and community involvement. REGnosys has been hugely supportive of this move and has invested in the CDM’s infrastructure to make it ready for this next iteration.” 

Read the full announcement from ISDA, ICMA and ISLA here.