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 ?
A key business process, which revolved around managing Proof of Delivery (POD) notes required a dedicated member of staff to manually - scan the PODs, extract relevant information, cross check with other back office applications and link it with multiple client back office applications by manually uploading each paper document.
We do provide advanced IT support services, and back office applications and storage to support student data and online supports.
The first phase will cover back office applications, while the
GBOT went live with leading trading and clearing members on board, along with world-class technology partners and Independent Software Vendors (ISVs) to develop both front and back office applications for optimal connectivity worldwide.
Our prospective members have appreciated the multi-asset offering which is supplemented with comprehensive services from the BFX including training, serviced offices on the trading floor, outsourced trading and back office applications. This packaged offering is allowing prospective members to start operations with minimal set-up and operating costs.
"Our prospective members have appreciated the multi-asset offering, which is supplemented with comprehensive services from the BFX including training, serviced offices on the trading floor, outsourced trading and back office applications.
Apollo represents the industry's first integrated Demand Response Management System that links in-home demand response devices to electric utility operations and back office applications. Apollo is an enterprise class, 100% web-based application, designed to provide a platform for advanced demand management applications as well as future Comverge software applications.
The customer has also decided to use MultiQ's products for its back office applications.
The retailer will install Wumart will install a synchronized retail solution from Retalix, Ra'anana, Israel, which includes Retalix StoreLine point of sale (POS) and back office applications at the stores, pre-integrated with Retalix HQ StoreLine and Retalix Loyalty and Promotions at the chain's headquarters.
While the experts were right about the reluctance of SMEs to automate, that has not stopped Salesforce.com from carving out a whole new business with the CRM sector, in the area of Sales Force Automation (SFA), and setting the back office applications market alight again.
iBOLT provides system integrators and corporate development teams with a comprehensive platform for integrating front and back office applications, billing and inventory systems, customer service solutions and ordering systems.
Oslo, Norway-based EDB teamed with Warsaw, Poland-based Ster Projekt to create the venture in November 2001 which was aimed at providing back office applications and related services to Poland's financial services sector.