Definition
Back office
Departments of a financial institution that perform work out of sight of customers, including bookkeeping and the processing of checks and loan payments.
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In the case of a brokerage firm, the back office includes the section where individual account records are kept, checks are processed, and security certificates are sent. Also called operations department.
Back Office
The department and processes related to the settlement of financial transactions, including written confirmation and settlement of trades, and record keeping.
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Brokerage House clerical operations that support, but do not include, the Trading of stocks and other securities. All written Confirmation and Settlement of trades, record keeping, and regulatory compliance happen in the back office.
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These will include the financial and sales departments as the front office. Then the function of middle management as well as IT services will be its own area. And finally the area called the back office at times is for the administrative and their ...
Back Office In the financial services industry, the term is used to describe departments in a bank or brokerage house that are not directly involved in selling or trading with customers.
Back Office - Refers to the administrative arm of financial service companies, who carry out and confirm financial transactions. Duties include, accounting, settlements, clearances, regulatory compliance and record maintenance.
Back Office: The department in a financial institution that processes and deals and handles delivery, settlement and regulatory procedures.
Back Office : Settlement and related processes.
Balance : Amount of money in an account.
Balance of Payments : A systematic record of the economic transactions du...
Balance of Trade : The value of exports less imports. Invisibles are norm...
back office The administrative functions at a brokerage that support the trading of securities,... back pay The salaries and wages from a prior pay period. back taxes Any outstanding taxes not paid when due.
The back office of a brokerage firm where all clerical functions having to do with clearance, settlement, and execution of trades are handled. (See clearance, prompt receipt and delivery of securities, settlement) OPRA ...
Their activities are organized into front, middle, and back offices. The front office assists with fund raising and offers advice on mergers and acquisitions.
By allowing Forex Club to manage back office responsibilities, customer funds and trade execution, FX Renew devotes its time to developing a personal relationship with its clientele; helping clients analyze the market and find trading opportunities.
Be absolutely sure your back office is set up to the NFA's rules and guidelines. The rules are quite clear and defined but not terribly onerous.
Like all businesses, mutual funds need a back office to process paperwork, account management, etc. With the advent of computers and technology, many mutual funds outsource their back office tasks to companies that specialize on these activities.
By Jonathan Yates (May 2011) Back offices are notoriously the weaknesses in financial institutions for a variety of factors. The most obvious is that the back office is not a revenue producer.
A clearing broker may provide such back office and related recordkeeping functions on either a fully disclosed or omnibus basis.
I strongly recommend that you trial Stator for yourself as it makes the back office part of trading that a lot easier, more thorough and a concise, honest appraisal of where your trading systems are going.
Ian West
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Barcode systems can also link back office systems. While the products are being rung up, the system can simultaneously update both the accounting and inventory systems.
Administrator - the administrator typically deals with the issue and redemption of interests and shares, calculates the net asset value of the fund, and performs related back office functions. In some funds, particularly in the U.S.
For safety and soundness reasons, the back office operates independently of the trading room. Treasury best practice recommends that the person in a corporation that transacted the deal should not be the person who confirms it.
A clerk who assist the dealer in recording a dealers position and ensures that all deal tickets are completed and transferred to the back office or input into the books in a position keeping system.
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A phrase used in banks to differentiate the area that conducts trades (front office), and the area that process trades (back office).
Front-Loaded
The fees and commission are subtracted from the initial investment before trading.
Operations: The area of a bank that normally deals with processing a transaction after it has been agreed by a dealer. Some banks still refer to this area as the "back office" and the dealing room as the "front office".
Financial and operations principal: Person in a NASD-member firm who is responsible for the financial reports of the firm, keeping of books and records, supervision of back office operations, and compliance with financial responsibility rules, ...
The account balance, as well as position-by-position P&L, is viewed in real time in the "Account Information" window. Clients can also generate and print a comprehensive back office report at any time by accessing the "Reports" selection from the ...
Brokers work directly with the borrower and handles all of the back office services, such as collecting payments from borrowers, mailing out notices and statements, and the end of the year IRS taxes.
Do you have back office accounting procedures in place? Is the effort to deal with accounting and your clients worth the distraction to your trading?
A swap designed for spot trades' maintenance. It was designed to change the old spot date to the current spot date (on the front office's side) and to enable the bank to make the payments to the counterparty (on the back office's side).
There are many large firms that employ fund managers, marketers (people who bring in the money), compliance staff, internal auditors, financial controllers, computer experts, and back office employees.
It also greatly facilitates analysis, forecasting of treasury results, and risk management. It facilitates straight through processing, particularly if it is linked to various front and back Office applications or integrated into an 'enterprise ...
trattenuto, e calcolerà gli eventuali guadagni e le commissioni; ma se la posizione viene chiusa il giorno seguente viene restituita, in tempo reale, solo la percentuale trattenuta a garanzia. Solo a mercati chiusi, la parte di Back office del ...
 See also: Trading, Market, Investment, Risk, Order
  
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