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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
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.
References in periodicals archive ?
Once the analysis phase has been completed and you have a good grasp of how your back office is performing, you can leverage that knowledge in the automation phase.
Misys Global Back Office includes seamless integration with counterparties, brokers and clearers, streamlining connectivity and improving regulatory compliance by offering a scalable and rapid integration process that provides real-time reporting functions, error tracking and alerting, and a large set of standard connectivity to the very latest market services.
The front office can act as the back office. Often highly skilled agents have excess capacity during low call volumes to conduct basic processing of common tasks or work-items usually reserved for the back office.
Rural back offices are crucial for the development of our country as a business leader," Dugar added.
With some back office jobs considered essential, some cops will be drafted into those roles "temporarily" over the next four years.
She said the school spent just pounds 435 per pupil on back office administration - below the Birmingham average of pounds 745 - when the extra figures were removed.
But Clr Khan added that the five West Yorkshire councils were having "discussions around back office functions, pooling our buying power and sharing good practice".
"A specific area of work, which offers significant potential for increasing efficiency is the back office functions directly supporting the delivery of primary care services.
Chief executive Jayne Anne Gadhia said: "We see back office operations in Edinburgh growing.
The Lloyds TSB Group Union claimed the decision was linked to plans to relocate more back office roles to India, where the bank has around 2,500 workers.
A Lloyds TSB spokesman confirmed that the bank had set a "target" to relocate a further 400 back office jobs to India this year, but denied the Peterborough closure was related.