One of the most important aspects in the control of a dealing operation is the division of duties between dealing and back‐office processing. Dealers should effect the deals in the interbank market or with clients; maintain sufficient informal records as required to monitor their positions; complete a source document (deal ticket); and from that moment on, have no further part in or control over the processing, confirmation, or settlement procedures involved. Generally, the majority of institutions actively involved in the foreign exchange markets will have spot dealers, forward dealers, money‐market dealers, treasury product dealers, corporate dealers, research personnel, and position clerks. The back office starts at the dealing room door and is a vital part of any dealing room function. The back office is concerned with settlement of trades, confirmations, maturity files, and reconciliations.
Foreign Exchange Dealing Rooms
A Foreign Exchange Primer ; 149-154
2012-01-02
6 pages
Article/Chapter (Book)
Electronic Resource
English
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