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The primary focus of this website is to provide a basic understanding of the Brokerage Operations process, and is intended for Ė but certainly not limited to - individuals in the following areas:
To assist in this understanding, basic Stock Brokerage terms and concepts are presented first. These basic concepts provide a high level description of the following:
Next follows a discussion on the Trade Comparison and Clearance Process.
Finally, this website provides insight into the various departments that comprise Brokerage Operations. This discussion describes the role of each department and highlights the key functions, rules and systems utilized by each area.
Front Office vs. Back Office
Job classifications in the securities industry are divided into two broad categories based on job function:
Job functions classified as Front Office positions generally involve activities that are client based. Personnel working in the Front Office deal primarily with the Brokerage Firmís clientele in the following capacities:
The Back Office is primarily responsible for the handling of the paper work that is generated by the firmís client based activities. Generally speaking, back office job functions pertain to:
Personnel working in back office positions are generally in the following departments or roles:
Processing in todayís fast paced trading environment requires the use of powerful and sophisticated computer systems and applications. The use of technology is widespread in both Front Office and Back Office departments. As such, Technology Departments must support the activities of both divisions. Therefore, Technology is listed as both a Front and Back Office position.