back office

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Back office

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.

Back Office

The various administrative and support offices of a company, especially a financial services company. The back office departments handle internal accounting, compliance with government regulations, legal matters, settlements, and clearing services. While they do not generally deal with clients, they are necessary for the smooth function of the office. See also: Front office, Middle office.

back office

The physical location within a business where records are kept and processed. 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.
References in periodicals archive ?
Back Orifice 2000 is a new version of Back Orifice -- a backdoor program not a virus -- initially publicly released in July 1998 (http://xforce.
Back Orifice was originally released in 1998 as a Windows Remote Administration Tool.
Back Orifice 2000 is a remote administration system that, once installed on a system, permits a user to control a computer remotely, across a network connection.
Internet Security Systems (ISS) (NASDAQ: ISSX) today announced that in less than 24 hours its X-Force research team has decoded the protocols and encryption algorithms contained within the latest threat to networks and PCs, Back Orifice 2000 (BO2K).
Back Orifice, a remote control penetration application, silently allows hackers complete control of infected machines.
1, 1998--A "fix" has finally been found for Back Orifice 1 and 1.
announced today that Elron Firewall--rated one of the top firewalls in the worldwide market by International Data Corporation (IDC)(1)--provides protection against Back Orifice attacks.