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One of the desired benefits of a controlled vocabulary is interoperability with other vocabularies, e.g. between FIX and FIBO. SKOS provides some semantic relationships for this purpose, specifically related, narrower, and broader, to support thesauri. However, homographs (same words with different meanings) must be distinguished by their context. This suggests that vocabulary terms must be linked to an ontology to provide context.

Also see Consider adding relationships between concepts #1

Semantic notation enables dynamic queries through SPARQL endpoints. However, some users simply require a static document view. Provide a facility to generate HTML or markdown from the ontology for a document or a static web page.

FIX has standardized abbreviations for concepts. A lexical annotation should be created for this purpose in the vocabulary. It would be akin to the SKOS altLabel annotation, perhaps "abbrLabel".

See Orchestra issue Refactoring Abbreviations at FIXTradingCommunity/fix-orchestra-spec#5

SKOS offers properties to define relationships between concepts: related, broader, and narrower. For example, "Sell Short" is related to "Sell Short Exempt", or perhaps the latter is a narrower concept.

One thing that I have not found a ready solution for is defining opposite concepts, such as "Held" and "Not Held". We could define a sub-property of "Related" for that purpose.

To support message normalization, create vocabulary terms for items described in FIX 4.4 Appendix 6-F Replaced Features and Supported Approach.