back office (Mokėjimo ir atsiskaitymo sistemos) - the part of a firm that is responsible for post-trade activities. Depending upon the organisational structure of the firm, the back office can be a single department or multiple units (such as documentation, risk management, accounting or settlements). Some firms have combined a portion of these responsibilities usually found in the back office, particularly those related to risk management, into what they term a middle office function. See also front office.
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