[FINOS Community] New project announcement for Open RegTech: Rune DSL
Leo Labeis
Dear FINOS Community,
I am excited to announce that Rune has been
successfully contributed
by REGnosys and is available as a FINOS-hosted project
at https://github.com/finos/rune-dsl, offering a regulatory reporting
digitisation solution to the industry.
What is Rune?
Rune is an open-source Domain-Specific Language (DSL) that allows industry members to develop, test and share regulatory logic in a system- and technology-agnostic way.
It empowers multiple users within a firm to take part in “digitising” (i.e. interpreting and codifying) reporting rules, without the risk of loss-in-translation once they get implemented in IT systems. RuNE stands for “Rule Natural Expression”. The language itself is designed to be human-readable, so that domain experts without programming experience (e.g. operations or compliance professionals) can write fully functional regulatory logic directly – a bit like in Excel.
Some artwork / logo is included in attachment.
What are the current and future developments?
Rune has been deployed for regulatory reporting in production under ISDA’s “Digital Regulatory Reporting” (DRR) programme. DRR leverages the Common Domain Model (CDM) – another FINOS project that provides an open-source data standard for financial products, trades and lifecycle events – to express trade reporting rules into unambiguous, machine-executable code.
Rune is also a supporting language for the CDM. Therefore, its ongoing development will be partly driven by CDM requirements. These include the recent delivery of a Python and JSON distribution for the CDM, as well as community requests for a standardised serialisation mechanism or reference data list management.
Given its application in the regulatory space, Rune will be added to the backbone of projects that support FINOS’s Open RegTech strategic initiative, such as Morphir and Legend, with a view to foster interoperability between them.
How do I get involved?
Documentation for Rune is available here.
REGnosys also provides a free model development toolkit based on the Rune DSL called “Rosetta”. (NB: For this reason, some of the documentation stills refers to Rune as the “Rosetta DSL”. All the documentation will be scrubbed in due course but it can be used interchangeably as the “Rune DSL” until then.) For more information about the Rune/Rosetta relationship please see here.
You can reach out to the project team at:
- Minesh Patel REGnosys minesh...@regnosy.com minesh-s-patel
- Hugo Hills REGnosys hugo....@regnosys.com hugohills-regnosys
See CONTRIBUTING.md for more information on how to participate. Your feedback, issues, and contributions are more than welcome.
To participate in the Open RegTech initiative, you can join the Regulation Innovation Special Interest Group.
Thanks to the FINOS Community for a warm welcome!
-Leo
CEO & Founder, REGnosys
--
To unsubscribe from this group, send email to community+...@finos.org
View this message at https://groups.google.com/a/finos.org/d/msg/community/topic-id/message-id
Stay informed on the latest updates from FINOS, including the FINOS newsletter and notifications of upcoming FINOS events - see www.finos.org/sign-up