ACTUS FOUNDATION

Project ACTUS has been incorporated in the form of two not-for-profit corporations to hold the intellectual property of ACTUS and to further the development as well as maintenance of the ACTUS Contract Types and their use. The not-for-profit corporations with legal residence in the US are the following:

 

The ACTUS Financial Research Foundation has been established as the single IPR-holder of  the ACTUS Standards.

  • Not-for-profit 501 (c)(3) Research Foundation

  • Financed by tax-deductible donations and grands

The ACTUS Users Association is primarily concerned with building up and further developing an active community and industry support.

  • Not-for-profit (501)(c)(6) Industry Association

  • financed by membership fees

  • Supports AFRF with advice and financing

ACTUS FINANCIAL RESEARCH FOUNDATION (AFRF)

ACTUS USERS ASSOCIATION (AUA)

BACKGROUND

Recent financial crises laid bare serious shortcomings in risk management and financial regulation. In retrospect, the lack of timely granular data reported in a data standard capable of supporting financial analysis contributed much to the crises. The ACTUS project aims to remedy this weakness by creating a global standard for the consistent representation of financial instruments.


The centrality of expected cash flows for financial analysis is obvious and undisputed. Less obvious is the role of the financial contracts. Financial contracts are mutual agreements between counterparties to exchange cash flows. The agreements are written by lawyers in different languages, legal terminology, and jurisdictions. This leaves us with a plethora of terms and different contracts.
 

However, if one abstracts from the legal terms and focuses on the cash flow obligations, the diversity of financial contracts or agreements shrinks drastically. The vast majority of the relevant financial contracts are built on a manageable number of underlying mechanisms. Financial contracts follow a limited number of patterns.

 


 

The goal of ACTUS is to break down the diversity in financial instruments into a manageable number of cash flow patterns – so called Contract Types (CT).

 

Thereby, ACTUS defines two standards:

 

 

 

 

 

 

 

 

 

 

 

 

 



 

The Data Standard defines a universal set of legal terms – or CT Attributes – used as parameters throughout the different financial agreements. It is implemented in form of a Data Dictionary with Attribute Applicability by Contract Type.

The Algorithmic Standard defines the logic embedded in legal agreements that eventually turn the contract terms into actual cash flows, or more generally business events.

ACTUS Data Standard

ACTUS Algorithmic Standard

 

These two Standards together will support forward-looking financial and risk analysis.  ACTUS software code is available under an open source license and can be integrated with any commonly used risk and finance analysis platform. Maintenance of ACTUS is ensured by the not-for-profit ACTUS Financial Research Foundation and the ACTUS Users Association.

 

BOARD OF GOVERNORS

Willi Brammertz,
Dr. Oec

CO-Founder of IRIS,  now part of FRS Global, and father of one of the world’s leading financial analysis systems riskpro™. Founder and President of Ariadne Business Analytics; Author of the book “Unified Financial Analysis – the missing links of finance” that provides basic concepts on which ACTUS builds.

Chair, ACTUS Users Association

Board of Governors

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John A. Bottega

Executive Director, EDM Council; Principal, Data Management Advisory Services, LLC;,

 

Formerly Chief Data Officer of Citibank, Bank of America and the Federal Reserve Bank of New York.

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Jefferson Braswell

Founding Partner and CEO, Tahoe Blue Ltd; Chair, Technology, Operations and Standards Committee  of the Board of Directors, Global LEI Foundation;

 

Formerly, President of Risk Management Technologies (RMT Berkeley, provider of the Radar Enterprise Risk Management Solution, acquired by FICO).

Chair, ACTUS Financial Research Foundation Board of Governors

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Bob Mark, Dr.

Managing Partner of Black Diamond Risk Enterprises, founding Executive Director of the MFE Program at the UCLA Anderson School of Management, Co-Founder of PRMIA;  awarded as the Financial Risk Manager of the Year by GARP;

 

Formerly Chief Risk Officer at several tier 1 banks as well as co-author of three Risk Management books.

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The Honorable Allan I. Mendelowitz, Ph.D

The Honorable Allan I. Mendelowitz, Ph.D

 Former Chairman of the Federal Housing Finance Board and Co-Leader of the Committee to Establish the National Institute of Finance.

President of ACTUS Financial Resarch Foundation and ACTUS Users Association

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Professor Wolfgang Breymann, Dr. phys

Professor at Zurich University of Applied Sciences, member of the Board of Ariadne Business Analytics,

 

Secretary of ACTUS Financial Resarch Foundation and ACTUS Users Association

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Jan Klein

CFO MCT Worldwide, formerly Professor of Finance, Equity Analyst and Venture Capitalist; CPA,

 

 

Treasurer of ACTUS Financial Resarch Foundation and ACTUS Users Association

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CONTRIBUTORS

Arie Levy-Cohen

Founder-CEO of Blockhaus Investment AG, co-Founder of SingularDTV, President of Integrated Engineering Blockchain Blockchain Consortium (IEBC) and Chairman of CoEngineers.io. Former International Advisor and Private Banker with Morgan Stanley, where he also administered the Morgan Stanley Bitcoin Forum

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