WHAT IS THE COMMON DOMAIN MODEL (CDM)
The Common Domain Model (CDM) is a standardized, machine-readable, and machine-executable model that represents financial products, trades in those products, and the lifecycle events of those trades. 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?
Development of the Common Domain Model in the financial industry promotes transparency, efficiency, and innovation, and can bring significant benefits to market participants and regulators.
WHAT IS THE PURPOSE OF THE CDM?
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ENHANCE INTEROPERABILITY & STRAIGHT THROUGH PROCESSING
Enables interoperability between systems/services, removing burden of setting up connections to different systems/entities, laying groundwork for STP
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DELIVERS BETTER REGULATORY OVERSIGHT
Promotes transparency and alignment between regulators and market participants
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CREATES AN ENVIRONMENT FOR INNOVATION IN FINANCIAL MARKETS
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