TradeHeader is a co-creator of the Common Domain Model (CDM) framework. It is one of the few maintainers of the standard, participates in day-to-day development and is committed to driving the adoption of CDM across the industry.
As a partner to FINOS on CDM, TradeHeader provides advisory and implementation services on CDM, as well as specialist training to a variety of firms.
Author: Marc Gratacos, Founder & Managing Partner, TradeHeader
What the CDM can do for you
In recent years, the Common Domain Model (CDM) has emerged as a standardised, machine-readable, and machine-executable data and process model for how financial products are traded and managed across their transaction lifecycles.
CDM is used to streamline and automate various aspects of financial transactions and processes, to improve efficiency, manage compliance costs, reduce risks and foster further innovation in the financial industry.
The benefits of a well-understood and effectively-implemented CDM are extensive. Besides standardisation of common reporting standards, CDM enhances interoperability between systems and services while improving straight-through processing in financial transactions.
It promotes transparency and alignment between regulators and market participants, fostering innovation by allowing providers to focus on their specialties, and also as community members, share feedback to further improve the framework. Additionally, the CDM enables automation of trade execution, clearing, settlement, and associated processes, improving data quality and efficiency, reducing costs, and minimising operational risks. CDM integrates into existing systems or acts as a service layer for external communications and provides a framework for robust post-trade processing and the digital representation of contracts and events across transaction lifecycles.
Why We Developed the CDM Training Course
Despite CDM’s transformative potential, one significant gap remained: there was no readily available training to guide professionals on how to understand, implement, and maximise its capabilities.
Recognising this need, we collaborated with FINOS and the Linux Foundation to develop the Introduction to the Common Domain Model (CDM) - LFEL1016 course, making it the first freely-accessible training resource available regarding CDM.
Our motivations for creating this course include:
- Addressing the Lack of Training: While CDM has gained traction for its ability to standardise financial processes and data, a lack of accessible training resources left many professionals without a clear path to adoption. This course fills that gap, providing the financial community with a structured, introductory guide to mastering CDM concepts and real-world applications.
- Equipping Financial Professionals with Practical Skills: CDM is not just a framework; it’s an actionable, executable model designed to standardise complex financial workflows across product lifecycles. We wanted learners to apply CDM in real-world scenarios such as product and business event representation, enabling them to improve data consistency, streamline workflows, and support regulatory compliance directly within their organisations.
- Accelerating CDM Adoption: Broader CDM adoption benefits the entire financial services sector, promoting consistency, reducing friction and fostering interoperability across market participants. By providing free training, we remove a barrier to entry, encouraging a diverse range of professionals to engage with, and implement CDM. This course is a key step in driving that momentum, helping CDM to become a widely-adopted standard in finance.
- Supporting Open-Source Standards: As open-source advocates, we recognise that standards like CDM thrive on broad understanding and active use. By making this course freely accessible, we are not only providing essential knowledge but also inviting participants to join the open-source community around CDM. As more professionals understand and use CDM, the model can evolve and improve through community feedback, ultimately benefiting the entire ecosystem.
By developing this course, we aim to equip financial professionals with the knowledge and skills necessary to lead CDM adoption, ultimately contributing to a more efficient, transparent, and resilient financial industry.
We’re excited to see the positive impact of widespread CDM knowledge and look forward to building a stronger, more interconnected financial community with FINOS.
Introduction to the Common Domain Model (CDM) - LFEL1016
Any feedback?
At TradeHeader, we welcome all feedback from training course attendees and are always looking for ways to make the training even more beneficial for the FINOS community. If you have any questions, observations or suggestions, please do not hesitate to get in touch here.
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