FND-280 #comment - loosens constraints on business day related proper… #896
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…ties to eliminate a reasoning bug, eliminates a duplicate individual that was not properly defined, and normalizes definitions to be ISO 704 compliant Signed-off-by: Elisa Kendall <ekendall@thematix.com>
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This seems really too bad, to remove those domains. Presumably, the error happens because you use the properties hasBusinessDayConvention or hasBusinessRecurrenceIntervalConvention on something that can't be a BusinessDayAdjustment or BusinessRecurrenceInterval respectively. But now, it is difficult to understand the intended use of these properties; if you can use them anywhere, it seems as if anything on earth could have such a Convention, including ridiculous things like NaturalPersons.
Is there a more appropriate general class that this domain could be, or could this be replaced wtih a couple of restrictions?
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Yes, there is the possibility of adding unions to constrain this better, but I'd rather pause on that until I've had more time to work with the examples and see what makes sense. What Mark had originally didn't work as he intended, though, and we ended up with logical inconsistencies in examples as a consequence. I'll continue to work through this and then possibly raise another issue to further constrain their use. Thanks! |
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| <owl:NamedIndividual rdf:about="&fibo-fnd-dt-bd;BusinessDayModifiedFollowing"> | ||
| <rdf:type rdf:resource="&fibo-fnd-dt-bd;BusinessDayConvention"/> | ||
| <rdfs:label>business day modified following</rdfs:label> | ||
| <sm:normativeReference>FPML 5.1 "BusinessDayConventionEnum"</sm:normativeReference> | ||
| <skos:definition>BusinessDayModifiedFollowing is a BusinessDayConvention that means a non-business date will be adjusted to the first following day that is a business day unless that day falls in the next calendar month, in which case that date will be the first preceding day that is a calendar date.</skos:definition> | ||
| <skos:definition>convention specifying that a non-business date will be adjusted to the first following day that is a business day unless that day falls in the next calendar month, in which case that date will be the first preceding day that is a calendar date</skos:definition> |
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the last use of "that date" presumably does not mean the one in the following calendar month. It would be better stated as "the adjusted date will be the first preceding...".
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| <owl:NamedIndividual rdf:about="&fibo-fnd-dt-bd;BusinessDayModifiedPreceding"> | ||
| <rdf:type rdf:resource="&fibo-fnd-dt-bd;BusinessDayConvention"/> | ||
| <rdfs:label>business day modified preceding</rdfs:label> | ||
| <sm:normativeReference>FPML 5.1 "BusinessDayConventionEnum"</sm:normativeReference> | ||
| <skos:definition>BusinessDayModifiedPreceding is a BusinessDayConvention that means that a non-business date will be adjusted to the first preceding day that is a business day unless that day falls in the previous month, in which case that date will be the first following day that is a business day.</skos:definition> | ||
| <skos:definition>convention specifying that a non-business date will be adjusted to the first preceding day that is a business day unless that day falls in the previous month, in which case that date will be the first following day that is a business day</skos:definition> |
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Again the last "that date" would be better "the adjusted date"
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| <owl:NamedIndividual rdf:about="&fibo-fnd-dt-bd;BusinessDayPreceding"> | ||
| <rdf:type rdf:resource="&fibo-fnd-dt-bd;BusinessDayConvention"/> | ||
| <rdfs:label>business day preceding</rdfs:label> | ||
| <skos:definition>a BusinessDayConvention that means that a date will be adjusted to the first previous day that is a business day</skos:definition> | ||
| <skos:definition>convention specifying that a date will be adjusted to the first previous day that is a business day</skos:definition> |
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"first previous" could be taken as "earliest previous" which is not the intent. "latest previous" would be clearer
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| <owl:NamedIndividual rdf:about="&fibo-fnd-dt-bd;BusinessDayNearest"> | ||
| <rdf:type rdf:resource="&fibo-fnd-dt-bd;BusinessDayConvention"/> | ||
| <rdfs:label>business day nearest</rdfs:label> | ||
| <sm:normativeReference>FPML 5.1 "BusinessDayConventionEnum"</sm:normativeReference> | ||
| <skos:definition>BusinessDayNearest is a BusinessDayConvention that means that a non-business date will be adjusted to the nearest day that is a business day -- i.e. if the non-business day falls on any day other than a Sunday or a Monday, it will be the first preceding day that is a business day, and will be the first following business day if it falls on a Sunday or a Monday.</skos:definition> | ||
| <skos:definition>convention specifying that a non-business date will be adjusted to the nearest day that is a business day -- i.e. if the non-business day falls on any day other than a Sunday or a Monday, it will be the first preceding day that is a business day, and will be the first following business day if it falls on a Sunday or a Monday</skos:definition> |
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"first preceding" could be taken as "earliest preceding". "latest preceding would be clearer".
The algorithm is unnecessarily specific and wrong - in the case of the Saturday after Thanksgiving (assuming the Friday is not a business day) then the nearest business day will be the following Monday but the algorithm says the preceding Wednesday.
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Let's address this under a new issue - I only normalized the definition, did not change the content.
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| <owl:Class rdf:about="&fibo-fnd-dt-bd;BusinessRecurrenceIntervalConvention"> | ||
| <rdfs:subClassOf rdf:resource="&fibo-fnd-dt-bd;Convention"/> | ||
| <rdfs:label>business recurrence interval convention</rdfs:label> | ||
| <skos:definition>a convention for modeling recurring days, such as the end of the month, a particular day of the month, a day of the week, or more specifically, a t-bill auction date</skos:definition> | ||
| <skos:definition>convention that specifies how recurring days should be handled, such as the end of the month, a particular day of the month, a day of the week, or more specifically, a t-bill auction date</skos:definition> |
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I don't see why t-bill auction is here, and it's very jurisdiction-specific. If it is so important (does it have its own named convention?) it should at least be cited as "US Treasury bills".
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It was there before - all I did was fix the definition. And there are t-bills referenced in the FpML that may not be limited to the US, including Australian t-bills ... although those could be Australian dollar but US t-bills.
…ties to eliminate a reasoning bug, eliminates a duplicate individual that was not properly defined, and normalizes definitions to be ISO 704 compliant
Signed-off-by: Elisa Kendall ekendall@thematix.com
Description
This issue resolution loosens constraints on business day related properties to eliminate a reasoning bug, eliminates a duplicate individual that was not properly defined, and normalizes definitions to be ISO 704 compliant.
Fixes: #895 / FND-280
Checklist: