Financial services run on systems that need to be rock-solid. Trust, accuracy, and resilience are fundamental requirements in this industry. Yet, as we embrace microservices, cloud platforms, and real-time events, keeping complex financial processes running smoothly becomes a major challenge.
The Fintech Open Source Developer Day, hosted by FINOS as part of apidays New York, brought together technologists, and thought leaders to advance the conversation around open source and financial technology. The day commenced with Olivier Poupeney, Field CTO of FINOS, setting the stage for a series of sessions focused on collaboration, governance, and the transformative power of open source in finance.
Since the early days of the Common Domain Model (CDM) project at FINOS, we’ve aimed to foster a diverse community representing the experiences of all CDM contributors. Today we are excited to announce an addition to the dedicated team of maintainers of the CDM: Nick Moger of J.P. MorganChase. The addition of a maintainer from J.P. Morgan—a leading bank with the CDM in production — ensures the model's evolution reflects the practical, everyday challenges and requirements of its adopters.
At our most recent FINOS Open Source in Finance Meetup, speakers from NVIDIA and Sonatype discussed the risks of AI in Finance.
This video is from a live virtual meetup on 7 May 2025.
FINOS TOC UPDATE
16 May 2025
Welcome to the May newsletter from the FINOS Technical Oversight Committee!
With an election on the horizon, the Committee is taking time this month to reflect—reviewing our governance documentation and preparing for some upcoming changes to the project lifecycle.
To keep things streamlined, we’ll be skipping project updates in this edition. If you would like to include a project update in a future newsletter, please work with your liaison or reach out to toc@lists.finos.org.
The world of finance relies heavily on derivatives transactions. Following the financial crisis of 2008, world leaders agreed that over-the-counter (OTC) derivatives needed more transparency and better tools to mitigate risk. This led to new regulations forcing market participants to exchange collateral. A key component of this is the requirement for Initial Margin (IM). Managing these complex transactions and regulatory requirements efficiently is where the Common Domain Model (CDM) comes in.
I'm Karl Moll, a Technical Project Advocate at FINOS, and I recently had the valuable opportunity to attend the SEC Roundtable on Artificial Intelligence in the Financial Industry in Washington D.C. This standout event brought together a diverse group of experts to tackle the complexities at the intersection of AI, finance, regulatory compliance, and governance. I’m excited to share how FINOS’s role in these vital discussions has developed — including our work on a pioneering AI Governance Framework.
