[FINOS Community] Great News on OSS Collaboration -- ISDA CDM Averaging Model (Fwd: [Finos-Alloy Pilot] Fx Option WG)

[Rob Underwood]

FINOS Community,

With Vijay's permission I wanted to share the note below. 

Tremendous news: the Averaging Model that was developed by the Alloy pilot participants has been approved by the CDM Architecture and Review Committee and integrated into CDM Rosetta Core. This is a huge accomplishment!

When we put together the Alloy open sourcing plan a year ago, and developed the idea of a pilot period, a key premise was that we did not want the pilot participants, most of whom work for market competitors to the bank (GS) contributing Alloy, to be glorified UAT testers. It was important to us that we made sure that the work and output of the pilot, regardless of the impressions of, and intentions for, Alloy created by participants during the pilot, would create value for the industry on its own. 

While I am happy to say that I think the impression of the Alloy platform that the pilot participants came away from the pilot with was very positive, and the potential for industry adoption is high, I am no less excited that we also fulfilled the key objective to use the pilot period to create something -- i.e., the Averaging Model extensions in the FX Option of the CDM as well as the work done in the Commodities Group -- that will have created lasting, tangible value and utility to the industry, regardless of future Alloy platform adoption. This is all also further validation of the value of open source code and practices as an essential tool to drive further and deeper industry collaboration. We're doing it. It's happening. (And if you don't already have an account on the shared public instance of Alloy in FINOS infrastructure, you may request one via the form at the bottom of https://www.finos.org/alloy).

A big thank you to the entire pilot group who worked so hard on these models. Thank you too to the team at ISDA, as well as at REGnosys, for all your support of the modeling effort as well, along with the Goldman team of course too. We look forward to further shared modeling efforts within FINOS on the Alloy platform. 

Much more to come next week with the expected open sourcing of the first five modules of Alloy (including a new name!) And stay tuned for more discussions of Alloy at OSS-EU and OSSF!

Thank You,

Rob

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Rob Underwood | Chief Development Officer | FINOS

 +1 (917) 754-3900 |  rob.un...@finos.org | Github: @brooklynrob
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---------- Forwarded message ---------
From: Chandel, Vijayesh <Vija...@gs.com>
Date: Thu, Oct 15, 2020 at 2:08 PM
Subject: RE: [Finos-Alloy Pilot] Fx Option WG
To: alloy...@finos.org <alloy...@finos.org>,

Hi All,

 

Hope you are keeping well. Sharing some great news that our Pilot’s Stage 3 - Averaging Model has been agreed by the CDM Architecture and Review Committee (ARC) and successfully committed into CDM Rosetta Core!

 

You can view the model in the ISDA CDM Portal directly: https://portal.cdm.rosetta-technology.io/#/

Release notes are also available here (see section 2.82.8): https://docs.rosetta-technology.io/cdm/releases/all.html

 

As you’ll also recall, we have our Stage 1 FxTrigger submission and our Stage 2 KO/KI qualification function design which is yet to be submitted in Alloy Studio.

For the latter, hoping with the very near full open sourcing of Alloy we’ll be able to submit the Stage 2 function, and once approved we’ll share with the CDM ARC for review.

 

Will post more details as and when available, but until then a great outcome for this Pilot group with ISDA CDM’s adoption of our Averaging Model. Thanks all for your contributions throughout in making this a big success!

 

Best,

Vijay

 

Vijayesh Chandel

Goldman Sachs International

Plumtree Court | 25 Shoe Lane | Holborn | London | EC4A 4AU

* vijayesh...@gs.com | ( +442075523022

 

 

 

From: Aitana Myohl <ait...@finos.org>
Sent: 26 August 2020 16:05
Subject: Re: [Finos-Alloy Pilot] Fx Option WG

 

Dear participants of the Alloy FX Options WG, 

 

I hope this email finds you well. This is a friendly reminder to please review and approve the final Averaging_Model submitted at https://alloy.finos.org/studio/review/UAT-34/85. 

You can do so by clicking on the blue tick button once you enter the submission link above. Once there are a few approvals from the group, we’ll have the model merged with the Alloy-CDM version which will eventually be merged with the ISDA CDM Rosetta golden source.

 

 

You may find it helpful to review the Pilot model governance at alloy.finos.org/docs/getting-started/pilot-model-governance, which provides a detailed overview of the roles involved in the submission of model changes. Please don't hesitate to reach out to he...@finos.org with any questions.

 

Best,

Aitana

 

 

 

On Mon, Aug 17, 2020 at 12:46 PM Chandel, Vijayesh <Vija...@gs.com> wrote:

Hi All,

 

Thanks for joining last week’s Fx Option Alloy-Finos WG. See minutes for the meeting here: https://github.com/finos/alloy/issues/198

As agreed in the WG, the final Averaging_Model has been submitted for your approvals: https://alloy.finos.org/studio/review/UAT-34/85

The submission includes:

·         Modelling of each class, property and relationships in cdm::model package

·         Model diagram, notes containing placeholders for future enhancements and model testing with target test class in cdm::AveragingModel package

To approve the modelling, simply hit the blue tick button once you enter the submission link above. Once we have a few approvals from the group, we’ll have the model merged with the Alloy-CDM version which will eventually be merged with the ISDA CDM Rosetta golden source.

 

The Fx Pilot has successfully come to close upon us achieving three deliverables with our Stage 1 Trigger submission, designing of a Stage 2 KnockIn/Knockout qualification function (for which we’ll arrange an ad hoc session once the feature is fully available in Studio), and finally our Averaging_Model submission for Stage 3.

 

I want to say a big thanks to all for participating in this pilot with your valuable discussions, analysis and contributions shared throughout the course of the past 4 months to make this a success.

Feel free to reach out anytime if you have questions on the modelling or Alloy Studio itself. All the best!

 

 

 

 

 

Kind regards,

Vijay

 

Vijayesh Chandel

Goldman Sachs International

Plumtree Court | 25 Shoe Lane | Holborn | London | EC4A 4AU

 

 

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[Leo Labeis]

Hi Rob,

Thanks indeed for the post - This is a terrific achievement, and we’re pleased that REGnosys has been part of the journey.

Congratulations to everyone involved!

Best,

-Leo

<image002.png>

 

You may find it helpful to review the Pilot model governance at alloy.finos.org/docs/getting-started/pilot-model-governance, which provides a detailed overview of the roles involved in the submission of model changes. Please don't hesitate to reach out to he...@finos.org with any questions.

 

Best,

Aitana

 

 

On Mon, Aug 17, 2020 at 12:46 PM Chandel, Vijayesh <Vija...@gs.com> wrote:

Hi All,

 

Thanks for joining last week’s Fx Option Alloy-Finos WG. See minutes for the meeting here: https://github.com/finos/alloy/issues/198

As agreed in the WG, the final Averaging_Model has been submitted for your approvals: https://alloy.finos.org/studio/review/UAT-34/85

The submission includes:

·         Modelling of each class, property and relationships in cdm::model package

·         Model diagram, notes containing placeholders for future enhancements and model testing with target test class in cdm::AveragingModel package

To approve the modelling, simply hit the blue tick button once you enter the submission link above. Once we have a few approvals from the group, we’ll have the model merged with the Alloy-CDM version which will eventually be merged with the ISDA CDM Rosetta golden source.

 

The Fx Pilot has successfully come to close upon us achieving three deliverables with our Stage 1 Trigger submission, designing of a Stage 2 KnockIn/Knockout qualification function (for which we’ll arrange an ad hoc session once the feature is fully available in Studio), and finally our Averaging_Model submission for Stage 3.

 

I want to say a big thanks to all for participating in this pilot with your valuable discussions, analysis and contributions shared throughout the course of the past 4 months to make this a success.

Feel free to reach out anytime if you have questions on the modelling or Alloy Studio itself. All the best!

 

 

<image003.png>

 

 

<image004.png>

 

Kind regards,

Vijay

 

Vijayesh Chandel

Goldman Sachs International

Plumtree Court | 25 Shoe Lane | Holborn | London | EC4A 4AU

 

 

---

Your Personal Data: We may collect and process information about you that may be subject to data protection laws. For more information about how we use and disclose your personal data, how we protect your information, our legal basis to use your information, your rights and who you can contact, please refer to: www.gs.com/privacy-notices

[Rob Underwood]

FINOS Community,

Our cutover activities in preparation of the wave 1 open sourcing of the first five modules of Alloy by Goldman Sachs has commenced (!!) For now until at least Monday morning, you will see an "under construction page" when you visit the docs site at alloy.finos.org or try to access Studio at alloy.finos.org/studio.

Let us know with an email to alloy-i...@finos.org if you have any questions, and keep an eye out for the announcement of the open sourcing next week. 

Thanks,

Rob

From: Aitana Myohl <ait...@finos.org>

--

Rob Underwood | Chief Development Officer | FINOS

 +1 (917) 754-3900 |  rob.un...@finos.org | Github: @brooklynrob
Please remember to #Vote and #WearAMask