back office(redirected from Backoffice)
Also found in: Dictionary, Idioms, Encyclopedia.
Related to Backoffice: Microsoft BackOffice
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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.