  A new initiative from the International Swaps and Derivatives Association
(ISDA) aims to establish a "Common Domain Model" (ISDA CDM): a new standard for
data and process representation across the full range of derivatives
instruments. Design of the ISDA CDM is at an early stage and the draft
definition contains considerable complexity. This paper contributes by offering
insight, analysis and discussion relating to key topics in the design space
such as data lineage, timestamps, consistency, operations, events, state and
state transitions.
