Finance

Banks, markets and their regulators: identifiers for companies and securities, machine-readable financial reporting, and the industry's ontology of contracts, much of it built after the 2008 crisis.

also: Banking, Financial services, Financial regulation
scheme: traditions

Where it answered

This tradition's column of the issues map: which questions its works mainly answer, and the earliest of each.

Works from this tradition by main design issue
issue	works	earliest
Technical 3 works · 60%
Identification	3	International Securities Identification Number 1981
Linking
Data model
Serialization
Reasoning
Query & validation
Scale & performance
Bridge 2 works · 40%
Vocabulary	2	XBRL 1998
Human 0 works · 0%
Topology
Trust
Governance
Adoption & incentives
Sustainability
Usability

Shares works with Government and law (2) · Knowledge representation (1)

Counts use each work's main design issue, as on the full map; 5 works in all.

Timeline

Everything from this tradition, in lanes by type. Bars run from start to end where both are known; marks people, projects and organizations still active. 2 entries have no date and are not shown. Hover over or focus an entry to draw its links. Scroll sideways, or use the decades above.

Entries (9)

Standards 5

International Securities Identification Number 1981 standard
12-character code identifying a security for clearing, reporting and settlement, first used in 1981 and standardised as ISO 6166 after the G30 recommended it in 1989.
XBRL 1998 standard
Format for business and financial reports whose taxonomies define each reporting concept and its relations, begun by Charles Hoffman in 1998; regulators, securities commissions and tax agencies worldwide receive filings in it, and Inline XBRL embeds the tags in an ordinary HTML report.
Legal Entity Identifier 2012 standard
20-character identifier for every company, fund or government body that takes part in financial transactions, defined in ISO 17442. The G20 called for it in 2011 after the 2008 crisis showed that regulators could not tell who was exposed to whom; the first LEIs were issued in December 2012. Its records say who is who and who owns whom, and are published openly, including as RDF.
Financial Industry Business Ontology 2014 standard
OWL ontology of financial contracts, instruments, parties and their relations, begun after the 2008 crisis as a shared vocabulary for analysis and regulatory reporting; developed by the EDM Council with the Object Management Group and in an open community process since 2020.
Financial Instrument Global Identifier 2014 standard
Open identifier for financial instruments of every kind, from shares to currencies; it began as Bloomberg's open symbology in 2009 and became an Object Management Group standard in 2014, free to use, unlike most proprietary securities codes.

Organizations 3

XBRL International 1999 organization
Not-for-profit consortium, formed in 1999 with the American Institute of Certified Public Accountants' help, that develops and publishes the XBRL standard.
Global Legal Entity Identifier Foundation 2014 organization
Swiss foundation set up in 2014 to run the Legal Entity Identifier system: it accredits the organisations that issue LEIs and publishes the global LEI data, including as linked data.
EDM Council organization
Financial-industry association for data management that owns the Financial Industry Business Ontology and, since 2023, runs its development, after co-hosting it with the Object Management Group.

People 1

Charles Hoffman person
Certified public accountant from Tacoma, Washington, whose work from 1998 began XBRL.