OpenIM The Open Investment Model

SD-13.2 — Entity & Counterparty Master

Business Domain: BD-13 Investment Data & Reporting (Cross-cutting — data) · Applies: BOTH

Purpose

Maintains the golden record of every legal entity the institution deals with — issuers, trading counterparties, brokers, external managers, custodians, administrators, portfolio companies, the institution’s own group entities. The Entity & Counterparty Master is the authoritative party master: one record per legal entity, with the many capacities an entity acts in held as roles of that one record, not as separate masters. It owns the legal-entity hierarchy, the cross-reference to external identifiers, and the entity-resolution machinery that determines whether an incoming party is one the institution already knows. It is distinct from SD-13.1 (the instrument master, the holdable thing) and from SD-13.3 (the fund master, where a fund’s manager is a legal entity owned here but the fund vehicle is owned there).

Service Operations

  • Entity onboarding — create the golden record for a new legal entity: assign the internal golden key, capture legal name, jurisdiction, registration and legal form, and set up the alias and external-identifier structures.
  • Role assignment — record the capacities a legal entity acts in — issuer, counterparty, broker, manager, custodian, administrator, portfolio company — as roles of the single party record, so the same entity is not duplicated once per capacity.
  • Counterparty cross-reference — record and maintain the mapping from the golden key to every external entity identifier (LEI, company-registry numbers, regulator filing IDs, data-vendor entity IDs).
  • Entity resolution — when a party arrives from a feed, document, trade or counterparty interaction, decide whether it is an existing golden record under a new name or identifier, or a new entity; resolve on LEI or registry match where one exists, on alias and attribute match where it does not.
  • Alias management — capture each name a legal entity has been seen under — variant vendor spellings, pre-rebrand names, names in manager reports — as an Entity Alias, building the institutional knowledge that shrinks the unresolved queue.
  • Hierarchy maintenance — maintain the legal-entity ownership and group hierarchy — parent, subsidiary, ultimate-parent links — that look-through risk (SD-07.5) and counterparty-exposure aggregation (SD-07.2) depend on.
  • Entity classification — assign and maintain the time-varying classifications of an entity (sector, country of risk, entity type, internal credit rating link) against the governed taxonomy.
  • Master distribution — publish the curated legal-entity record to every consuming domain as the single authoritative party reference.

Inputs and outputs

  • Inputs: vendor entity-reference and LEI feeds (sourced by SD-13.4); counterparty onboarding and KYC data from BD-12 and SD-14.3; manager and portfolio-company data extracted by SD-13.6; corporate-registry data.
  • Outputs: the golden legal-entity record — consumed by BD-02 (issuer research), BD-06 (counterparty and broker references), SD-07.2 Credit & Counterparty Risk, SD-07.5 Look-Through Exposure, SD-10.6 Sanctions & Prohibited-Issuer Screening, BD-12 operations, and SD-13.3 (the manager / GP and administrator legal entities behind a fund).
  • Standing data for resolution: the alias and external-identifier sets are themselves an output — accumulated institutional knowledge read by every subsequent resolution cycle.

Entities

  • Owns: E-01 Legal Entity (the golden party record, with issuer / counterparty / manager / custodian / administrator / portfolio-company as roles); the entity-side partition of E-13 Entity Alias and E-14 External Identifier (key-partitioned by master kind — instrument-side at SD-13.1, fund-side at SD-13.3, entity-side here; see ownership-map.md); the private-markets specialisations of legal entity — PM-02 GP / Management Company, PM-03 Fund Administrator, PM-04 Portfolio Company (its operating record is owned by SD-13.6 / SD-04), and PM-11 Manager Succession Event (the corporate-action-like event on a GP). Consumes E-11 / E-12 from SD-13.7 for entity-side classifications.
  • Consumes: E-09 Asset Class and the classification taxonomy; the SD-13.4 vendor entity-reference and LEI feeds; manager and portfolio-company data extracted by SD-13.6; counterparty onboarding and KYC data from BD-12 and SD-14.3.
  • Open question: the in-record-array versus normalised-entity question for E-13 / E-14, shared with SD-13.1 and SD-13.3 — resolve once, consistently. Also open: whether portfolio-company roles warrant their own role entity rather than being held as classification on E-01.

Standards

  • FIBO (Financial Industry Business Ontology, EDM Council) — OpenIM aligns the legal-entity master to FIBO Business Entities; FIBO is the lower semantic layer for legal-entity concepts.
  • LEI / GLEIF — the Legal Entity Identifier (ISO 17442), issued under the Global Legal Entity Identifier Foundation, is the primary external identifier for regulated entities; the master holds it where it exists.
  • DAMA-DMBOK and the EDM Council DCAM framework — the master-data-management discipline the Service Domain is run to.

Open extensions

  • Resolution of the in-record-array versus normalised-entity question for E-13 / E-14.
  • The role model — whether a versioned Entity Role entity is warranted over holding roles as classification.
  • Entity-resolution confidence scoring and the auto-confirm threshold.

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