WHAT IS THE COMMON DOMAIN MODEL (CDM)
The Common Domain Model is an open standard project hosted under FINOS, the Fintech Open Source Foundation, starting in February 2023. The standard is developed through the Community Specification open governance process, and underlying code assets are released under the Community Specification License 1.0.
WHAT ARE THE BENEFITS OF THE CDM?
The CDM project offers a unique opportunity for members to collaborate and drive industry standards forward in a transparent and inclusive manner.
WHAT IS THE PURPOSE OF THE CDM?
ENHANCE INTEROPERABILITY & STRAIGHT THROUGH PROCESSING
FINOS CDM enables interoperability between systems/services, removing burden of setting up connections to different systems/entities, laying groundwork for STP
DELIVERS BETTER REGULATORY OVERSIGHT
FINOS CDM promotes transparency and alignment between regulators and market participants.
CREATES AN ENVIRONMENT FOR INNOVATION IN FINANCIAL MARKETS
FINOS CDM will speed up development of new solutions for the market by allowing providers to focus on what they specialize in rather than requiring them to interpret and represent market events and processes individually.