The Common Domain Model (CDM) is a standardized, machine-readable and executable model for representing financial products, lifecycle events and contractual information. By providing an open source shared language across firms and platforms, it supports interoperability, automation, resource optimization and reduced operational risk. The CDM is hosted and governed by the Fintech Open Source Foundation to ensure its continued open-source accessibility.
Although the CDM has seen growing adoption in recent years, there are hurdles to overcome and work involved to integrate it into a system. Each use case will have several approaches, but this paper details how Ark 51 achieved a successful adoption of the CDM into production for a legal agreement use case.
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Documents (1) for The Common Domain Model: A User Journey from Concept to Production
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CDM: User Journey from Concept to Production
The Common Domain Model (CDM) is a standardized, machine-readable and executable model for representing financial products, lifecycle events and contractual information. By providing an open source shared language across firms and platforms, it supports interoperability, automation, resource optimization and reduced...
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