In fintech, efficiency is one of the main goals. One key in increasing efficiency is open source technologies. The Regulation track at OSFF shows how open source is used in building standards and interoperability. Learn how financial institutions can create standards, increase transparency, increase automation, and more by using open source for regulation!

11:15 Am EST - Exploring Open Reg Tech with the LCR

Stephen Goldbaum - Distinguished Engineer, Morgan Stanley

Open Regulation Technology has the potential to greatly improve efficiency across the Finance Industry. FINOS formed the Open Reg Tech SIG (Special Interest Group) in recoginition of that potential. One of the goals of the SIG is to demonstrate how regulations can be delivered as code. The SIG proposed using the US LCR as an introductory regulation. This presentation will demonstrate the results of that effort. It will explore authoring a regulation as code, ensuring it's open to execution across a range of technologies, and integrating the results with other initiatives, like as data cataloguing, lineage, and ontologies. The solution involves a range of FINOS projects and is a great demonstration of how the FINOS ecosystem can be combined to solve real industry problems.

11:55 Am EST - DEMONSTRATION OF FINRA'S MACHINE-READABLE RULEBOOK INITIATIVE

Jane Gavronsky - CTO, FINOS

Alex Khachaturian - Director, Office of Financial Innovation, FINRA

Afshin Atabaki - Special Advisor and Associate General Counsel, FINRA

Anadi Rastogi - Associate Product Manager, FINRA

1:55 pm EST - Delivering an Industry Implementation of the CFTC Rewrite using Rosetta and the CDM: A Production Use-case

Leo Labeis - Founder and CEO, REGnosys

The talk will demonstrate how open-source projects like the CDM and Rosetta can be leveraged to address one of the industry’s most pressing challenges: the escalating cost and complexity of regulatory reporting. The talk will focus on how CDM x Rosetta DSL support a hyper-efficient “digitisation” of the paper requirements, emphasizing the break-through of the collaborative approach which was pioneered for the CFTC Rewrite. The talk will feature “stories from the trenches” of actual production deployment.

2:35 pm EST - Modernize Regulatory Reporting: Get Ready for T+1 Settlement

Ephrim Stanley - Technology Fellow, Goldman Sachs

Ashley Trainor - Sr. Solutions Architect, Databricks

Antoine Amend - Senior Director, Industry Solutions, Financial Services, Databricks

Stephen Goldbaum - Distinguished Engineer, Morgan Stanley

Financial regulators and capital market participants have laid out a path to shorten the standard settlement cycle to the trade date plus one business day (T+1) by September 3, 2024. The transition to T+1 means that shortening the settlement cycle can mitigate risk, increase overall efficiency, and allow for better uses of capital. Panelists will cover the advantage of having a unified, open-source technology platform (like Morphir) and application interoperability, to help manage this significant transition.

In this talk, the speakers will:

• Demonstrate the benefits of the Lakehouse in the ingestion, processing, validation, and transmission of regulatory data.
• Address the need for organizations to ensure consistency, integrity and timeliness of regulatory pipelines.
• Show how capital market firms could bring full transparency and confidence to the regulatory data, reducing operation costs and adapting to new standards like T+1.

3:15 pm EST - Rethinking Risk, Governance, and Compliance Applying Automated Reasoning

Andres Vega - VP of Operations, North America, ControlPlane

Are you toiling in response to a 'Matter Requires Immediate Attention' notice regarding your security posture? The banking sector strives for cloud velocity with the hope to fulfil the promise of developer productivity and operational efficiency. The stark reality is investments in automation inevitably bottleneck in compliance toil more often than not. In simple terms, the work is about the ability to credibly demonstrate they've done the work they said they would. Why is this so hard? Given the complexity involved in getting this done right, we must collectively rethink how to go about it. The presentation seeks to elucidate a path away from manual auditing and inspection towards automated reasoning that can help programmatically answer and meet regulatory and compliance objectives. You will leave this session with a stronger understanding of recent advances in open source along with the breadth and depth of novel approaches to automated governance, risk, and compliance, along with resources to further develop your knowledge.

4:15 pm EST - Morphir Integration with Scala

Stephen Goldbaum - Distinguished Engineer, Morgan Stanley

Damian Reeves - Distinguished Engineer, Capital One

Join Capital One’s Open Source Program Office for an overview of its contributions to the Morphir project. Morphir is a component of the FINOS ecosystem focused on sharing business logic across multiple different languages, platforms, and users. The centerpiece of the growing Morphir ecosystem is the Morphir IR, which is concise enough to support many technologies while being expressive enough to model business logic of all kinds; from regulatory rules to financial instruments and products. In this talk Damian Reeves, Distinguished Engineer at Capital One, will discuss how Capital One uses Morphir to reduce investment overhead for domain-specific languages. He will introduce how Capital One, the FINOS community, and Ziverge collaborated to enhance Morphir with advanced Scala support. Damian will also discuss why leveraging the FINOS ecosystem was a compelling strategy for Capital One.

4:55 pm EST - Why Open Source Technology Is Critical to Widespread Adoption of CBDCs and Other Digital Currencies

Jennifer Peve - Managing Director, Head of Strategy and Business Development, DTCC

David Treat - Senior Managing Director, Global Metaverse Continuum Business Group & Blockchain Lead, Accenture

The pace of experimentation and implementation of new, digital retail and wholesale payment systems around the world is accelerating. Much of the current focus is on upfront challenges of creating the frameworks for individual countries to introduce CBDCs and other digital currencies. But the complexity will only mount when there begins to be widespread adoption of new currencies and networks. In this session, Karen Ottoni of Hyperledger Foundation and Jennifer Peve of DTTC will detail why the level of interoperability, transparency and openness required to assure smooth, secure local, regional or even global transactions in a multi-digital currency world can only be delivered with open source distributed ledger technology.

They will cover the criticality of pairing open source and open governance to create trusted technology backbones for these new currencies. And to deliver the interoperability and framework for alignment needed for the integration of payment networks that will meet diverse business, consumer and regulatory needs.

Interested in learning more about OSFF? Check out our website for the full schedule and register today!