DER-26 #comment - eliminate all references to the ontologies called O…

…TCDerivatives and OTCInstruments, which were previously merged into the DerivativesBasics ontology in support of the Swaps revisions for State Street and CFTC, and delete the redundant ontologies.

der/AssetDerivatives/EquityOptions.rdf

@@ -4,7 +4,7 @@
 	<!ENTITY fibo-der-ass-bas "https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/AssetBaskets/">
 	<!ENTITY fibo-der-ass-eqo "https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/EquityOptions/">
 	<!ENTITY fibo-der-der-opt "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/">
-	<!ENTITY fibo-der-der-otc "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/OTCDerivatives/">
+	<!ENTITY fibo-der-drc-bsc "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/">
 	<!ENTITY fibo-der-etd-eto "https://spec.edmcouncil.org/fibo/DER/ExchangeTradedDerivatives/ExchangeTradedOptions/">
 	<!ENTITY fibo-fnd-acc-cur "https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/">
 	<!ENTITY fibo-fnd-agr-ctr "https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/">
@@ -23,7 +23,7 @@
 	xmlns:fibo-der-ass-bas="https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/AssetBaskets/"
 	xmlns:fibo-der-ass-eqo="https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/EquityOptions/"
 	xmlns:fibo-der-der-opt="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/"
-	xmlns:fibo-der-der-otc="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/OTCDerivatives/"
+	xmlns:fibo-der-drc-bsc="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/"
 	xmlns:fibo-der-etd-eto="https://spec.edmcouncil.org/fibo/DER/ExchangeTradedDerivatives/ExchangeTradedOptions/"
 	xmlns:fibo-fnd-acc-cur="https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/"
 	xmlns:fibo-fnd-agr-ctr="https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/"
@@ -42,7 +42,7 @@
 		<owl:imports rdf:resource="http://www.w3.org/2004/02/skos/core"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/AssetBaskets/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/AssetDerivatives/AssetDerivatives/"/>
-		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/OTCDerivatives/"/>
+		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/ExchangeTradedDerivatives/ExchangeTradedOptions/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/"/>
@@ -113,7 +113,7 @@
 	</owl:Class>
 
 	<owl:Class rdf:about="&fibo-der-ass-eqo;EquityOTCOptionTransaction">
-		<rdfs:subClassOf rdf:resource="&fibo-der-der-otc;OTCDerivativeTransaction"/>
+		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;OTCDerivativeTransaction"/>
 		<rdfs:subClassOf rdf:resource="&fibo-der-der-opt;OptionalUnderlyingTransaction"/>
 		<rdfs:label xml:lang="en">equity o t c option transaction</rdfs:label>
 		<skos:definition xml:lang="en">A transaction which is defined in an equity options contract and which may or may not take place, at the discretion of the holder of the option. If it does take place, this will be a transaction for the purchase or sale of the equity underlying or some cash equivalent thereof, as defined in the option contract.</skos:definition>

der/DerivativesContracts/DerivativesBasics.rdf

@@ -7,6 +7,7 @@
 	<!ENTITY fibo-fbc-fi-fi "https://spec.edmcouncil.org/fibo/FBC/FinancialInstruments/FinancialInstruments/">
 	<!ENTITY fibo-fbc-pas-fpas "https://spec.edmcouncil.org/fibo/FBC/ProductsAndServices/FinancialProductsAndServices/">
 	<!ENTITY fibo-fnd-acc-cur "https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/">
+	<!ENTITY fibo-fnd-agr-agr "https://spec.edmcouncil.org/fibo/FND/Agreements/Agreements/">
 	<!ENTITY fibo-fnd-agr-ctr "https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/">
 	<!ENTITY fibo-fnd-dt-fd "https://spec.edmcouncil.org/fibo/FND/DatesAndTimes/FinancialDates/">
 	<!ENTITY fibo-fnd-pas-pas "https://spec.edmcouncil.org/fibo/FND/ProductsAndServices/ProductsAndServices/">
@@ -35,6 +36,7 @@
 	xmlns:fibo-fbc-fi-fi="https://spec.edmcouncil.org/fibo/FBC/FinancialInstruments/FinancialInstruments/"
 	xmlns:fibo-fbc-pas-fpas="https://spec.edmcouncil.org/fibo/FBC/ProductsAndServices/FinancialProductsAndServices/"
 	xmlns:fibo-fnd-acc-cur="https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/"
+	xmlns:fibo-fnd-agr-agr="https://spec.edmcouncil.org/fibo/FND/Agreements/Agreements/"
 	xmlns:fibo-fnd-agr-ctr="https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/"
 	xmlns:fibo-fnd-dt-fd="https://spec.edmcouncil.org/fibo/FND/DatesAndTimes/FinancialDates/"
 	xmlns:fibo-fnd-pas-pas="https://spec.edmcouncil.org/fibo/FND/ProductsAndServices/ProductsAndServices/"
@@ -156,7 +158,7 @@ Copyright (c) 2015-2017 Object Management Group, Inc.</sm:copyright>
 				</owl:someValuesFrom>
 			</owl:Restriction>
 		</rdfs:subClassOf>
-		<rdfs:label xml:lang="en">derivative contract party</rdfs:label>
+		<rdfs:label>derivative contract party</rdfs:label>
 		<skos:definition>a party to a derivative instrument</skos:definition>
 	</owl:Class>
 
@@ -203,9 +205,29 @@ Copyright (c) 2015-2017 Object Management Group, Inc.</sm:copyright>
 	<owl:Class rdf:about="&fibo-der-drc-bsc;OTCDerivativeContract">
 		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;OTCInstrument"/>
 		<rdfs:subClassOf rdf:resource="&fibo-fbc-fi-fi;DerivativeInstrument"/>
+		<rdfs:subClassOf>
+			<owl:Restriction>
+				<owl:onProperty rdf:resource="&fibo-fnd-rel-rel;governs"/>
+				<owl:someValuesFrom rdf:resource="&fibo-der-drc-bsc;OTCDerivativeTransaction"/>
+			</owl:Restriction>
+		</rdfs:subClassOf>
 		<rdfs:label>over-the-counter (OTC) derivative contract</rdfs:label>
 		<skos:definition>an over-the-counter agreement that is also a derivative instrument</skos:definition>
-		<skos:editorialNote>Not all derivatives are sold over-the-counter, and not all OTC agreements are derivatives.</skos:editorialNote>
+		<fibo-fnd-utl-av:explanatoryNote>Not all derivatives are sold over-the-counter, and not all OTC agreements are derivatives.</fibo-fnd-utl-av:explanatoryNote>
+	</owl:Class>
+
+	<owl:Class rdf:about="&fibo-der-drc-bsc;OTCDerivativeTransaction">
+		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;OTCTransaction"/>
+		<rdfs:subClassOf>
+			<owl:Restriction>
+				<owl:onProperty rdf:resource="&fibo-fnd-rel-rel;embodies"/>
+				<owl:someValuesFrom rdf:resource="&fibo-der-drc-bsc;OTCDerivativeContract"/>
+			</owl:Restriction>
+		</rdfs:subClassOf>
+		<rdfs:label>OTC derivative transaction</rdfs:label>
+		<skos:definition>a derivative transaction that is struck over the counter between two parties</skos:definition>
+		<skos:editorialNote>eliminated a parent of CoveredTransaction, as wee as a restriction stating that it is governed by an OTC Derivative Transaction Master Agreement for the sake of expediency</skos:editorialNote>
+		<fibo-fnd-utl-av:explanatoryNote>This is both a derivative transaction and a covered transaction, that is, the OTC transaction is covered under some previously agreed Master Agreement between the two parties.</fibo-fnd-utl-av:explanatoryNote>
 	</owl:Class>
 
 	<owl:Class rdf:about="&fibo-der-drc-bsc;OTCInstrument">
@@ -216,6 +238,12 @@ Copyright (c) 2015-2017 Object Management Group, Inc.</sm:copyright>
 		<fibo-fnd-utl-av:adaptedFrom>Barron&apos;s Dictionary of Finance and Investment Terms, Ninth Edition, 2014</fibo-fnd-utl-av:adaptedFrom>
 	</owl:Class>
 
+	<owl:Class rdf:about="&fibo-der-drc-bsc;OTCProduct">
+		<rdfs:subClassOf rdf:resource="&fibo-fbc-pas-fpas;FinancialProduct"/>
+		<rdfs:label>OTC product</rdfs:label>
+		<skos:definition>an over-the-counter derivative, made up of one or more transactions, with a corresponding contract or contracts</skos:definition>
+	</owl:Class>
+
 	<owl:Class rdf:about="&fibo-der-drc-bsc;OTCTransaction">
 		<rdfs:subClassOf rdf:resource="&fibo-fbc-fi-fi;SecuritiesTransaction"/>
 		<rdfs:subClassOf>
@@ -245,6 +273,12 @@ Copyright (c) 2015-2017 Object Management Group, Inc.</sm:copyright>
 				<owl:someValuesFrom rdf:resource="&fibo-der-drc-bsc;OTCTransactionParty"/>
 			</owl:Restriction>
 		</rdfs:subClassOf>
+		<rdfs:subClassOf>
+			<owl:Restriction>
+				<owl:onProperty rdf:resource="&fibo-fnd-agr-ctr;supersedes"/>
+				<owl:someValuesFrom rdf:resource="&fibo-der-drc-bsc;OTCInstrument"/>
+			</owl:Restriction>
+		</rdfs:subClassOf>
 		<rdfs:label>over-the-counter (OTC) transaction confirmation</rdfs:label>
 		<skos:definition>a formal confirmation document that codifies the terms and conditions of the transaction between the parties</skos:definition>
 		<skos:editorialNote>This effectively supersedes the (implied) contract that is brought into being by the transaction. It makes reference to the terms and conditions under which the transaction is deemed to have been conducted. The confirmation references the master agreement under which the transaction has been conducted along with any ISDA standard terms referenced (if applicable), and adds terms and conditions specific to the transaction.  The confirmation generally supersedes all terms in the ISDA standard definitions and the master agreement in the event of any inconsistency between them.</skos:editorialNote>
@@ -314,7 +348,7 @@ Copyright (c) 2015-2017 Object Management Group, Inc.</sm:copyright>
 				</owl:someValuesFrom>
 			</owl:Restriction>
 		</rdfs:subClassOf>
-		<rdfs:label xml:lang="en">underlier</rdfs:label>
+		<rdfs:label>underlier</rdfs:label>
 		<skos:definition>the financial instrument(s), index or parameter, or combination thereof, that form the basis for the derivative instrument</skos:definition>
 		<skos:editorialNote>The underlier breaks down into two separate meanings: The item which determines the value of the contract (the observable), and the item that is deliverable upon expiry or exercise of the contract (if there is one). These are usually the same item but in some cases such as index derivatives the exercise takes a different form. Action: Add &apos;Observable&apos; as a distinct term. Then use Deliverable. Is Underlier the union? In a Call Option the Underlier is the Deliverable and is referred to as the Underlier. With an Fx Call Option, the deliverable is the cash value which you are exchanging for the amount in another currency (so this is no difference as cash is instrument). Then take IR Swap where 3mo LIBOR Rate is the Observable, but the delivery is Cash. Then one would refer to the LIBOR as the Observable. Delivers an amount based on the observable, and the delivered cash is the Deliverable. So what we refer to as Underlier may be the Observable or the Deliverable e.g. Call option on IBM the deliverable is the IBM Stock whereas a Swap leg depending on LIBOR, the Deliverable is Cash but the &apos;Underlier&apos; is the Observable. Would be nore accurate not to refer to the Observable not as an Underlier. Therefore there would be nothing referred to as the &apos;Underlier&apos; as such. However, all derivatives have Underlier. Take an IR Cap, would not not refer to it as having an Underlier - the notion of Underlier becomes fuzzier when you get to higher order derivatives. LIBOR on a list of dates is an &apos;Observable&apos; but is several amounts.</skos:editorialNote>
 	</owl:Class>

der/DerivativesContracts/Forwards.rdf

@@ -3,6 +3,7 @@
 	<!ENTITY fibo-der-der-fwd "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Forwards/">
 	<!ENTITY fibo-der-der-opt "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/">
 	<!ENTITY fibo-der-derx-dbx "https://spec.edmcouncil.org/fibo/DER/DerivativesContractsExt/DerivativesBasicsExt/">
+	<!ENTITY fibo-der-drc-bsc "https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/">
 	<!ENTITY fibo-fnd-acc-cur "https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/">
 	<!ENTITY fibo-fnd-agr-ctr "https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/">
 	<!ENTITY fibo-fnd-tim-tim "https://spec.edmcouncil.org/fibo/FND/TimeExt/Time/">
@@ -20,6 +21,7 @@
 	xmlns:fibo-der-der-fwd="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Forwards/"
 	xmlns:fibo-der-der-opt="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/"
 	xmlns:fibo-der-derx-dbx="https://spec.edmcouncil.org/fibo/DER/DerivativesContractsExt/DerivativesBasicsExt/"
+	xmlns:fibo-der-drc-bsc="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/"
 	xmlns:fibo-fnd-acc-cur="https://spec.edmcouncil.org/fibo/FND/Accounting/CurrencyAmount/"
 	xmlns:fibo-fnd-agr-ctr="https://spec.edmcouncil.org/fibo/FND/Agreements/Contracts/"
 	xmlns:fibo-fnd-tim-tim="https://spec.edmcouncil.org/fibo/FND/TimeExt/Time/"
@@ -37,7 +39,6 @@
 		<rdfs:label xml:lang="en">Forwards</rdfs:label>
 		<owl:imports rdf:resource="http://www.w3.org/2004/02/skos/core"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/"/>
-		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/OTCInstruments/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/Options/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContractsExt/DerivativesBasicsExt/"/>
 		<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/FBC/FinancialInstruments/FinancialInstruments/"/>
@@ -131,7 +132,7 @@
 	</owl:Class>
 
 	<owl:Class rdf:about="&fibo-der-der-fwd;ForwardContract">
-		<rdfs:subClassOf rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/OTCInstruments/OTCInstrument"/>
+		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;OTCInstrument"/>
 		<rdfs:subClassOf rdf:resource="https://spec.edmcouncil.org/fibo/FBC/FinancialInstruments/FinancialInstruments/DerivativeInstrument"/>
 		<rdfs:subClassOf>
 			<owl:Restriction>
@@ -181,14 +182,14 @@
 	</owl:Class>
 
 	<owl:Class rdf:about="&fibo-der-der-fwd;ForwardContractBuyer">
-		<rdfs:subClassOf rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/DerivativeContractParty"/>
+		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;DerivativeContractParty"/>
 		<rdfs:subClassOf rdf:resource="&fibo-fnd-agr-ctr;ContractCounterparty"/>
 		<rdfs:label xml:lang="en">forward contract buyer</rdfs:label>
 		<owl:disjointWith rdf:resource="&fibo-der-der-fwd;ForwardContractSeller"/>
 	</owl:Class>
 
 	<owl:Class rdf:about="&fibo-der-der-fwd;ForwardContractSeller">
-		<rdfs:subClassOf rdf:resource="https://spec.edmcouncil.org/fibo/DER/DerivativesContracts/DerivativesBasics/DerivativeContractParty"/>
+		<rdfs:subClassOf rdf:resource="&fibo-der-drc-bsc;DerivativeContractParty"/>
 		<rdfs:subClassOf rdf:resource="&fibo-fnd-agr-ctr;ContractPrincipal"/>
 		<rdfs:label xml:lang="en">forward contract seller</rdfs:label>
 		<skos:definition xml:lang="en">A seller of the underlying instrument in a Forward contract.</skos:definition>