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Middle Office
The middle office is a team of employees working in a financial services institution. Financial services institutions can be divided into three sections: the front, the middle and the back office. The front office is composed of customer-facing employees such as sales personnel. The middle office is made up of the risk managers and the information technology managers who manage risk and maintain the information resources. The back office is composed of the human resources department, office managers and customer care representatives who provide support, administrative and payment services. Generally, the back and middle office involves non-revenue generating operations related to risk management and ensuring proper execution of transactions. The middle office plays numerous roles in financial services organisations and investment banking. It ensures that deals negotiated during financial transactions are processed, booked and fulfilled. Workers manage global agreements concernin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg Terminal
The Bloomberg Terminal is a computer software system provided by the financial data vendor Bloomberg L.P. that enables professionals in the financial service sector and other industries to access Bloomberg Professional Services through which users can monitor and analyze real-time financial market data and place trades on the electronic trading platform. It was developed by employees working for businessman Michael Bloomberg. The system also provides news, price quotes, and messaging across its proprietary secure network. It is well known among the financial community for its black interface, which has become a recognizable trait of the service. The first version of the terminal was released in December 1982. Most large financial firms have subscriptions to Bloomberg Professional Services. Many exchanges charge their own additional fees for access to real time price feeds across the terminal. The same applies to various news organizations. All Bloomberg Terminals are leased ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Front Office
The front office is the part of a company that comes in contact with clients, such as the marketing, sales, and service departments. The term has more specific meaning in different industries. Types General offices The function of front office is to directly get in touch with customers, and is usually the first place that customers get to when they arrive to the company. The front office can discover more information about the customer by asking them questions, also helping the customers out. Staff working in the front office can also deal with simple tasks, such as sorting out emails, helping out on printing and typing works. Front office staff need to use different skills on technologies too, such as using the printers, fax machines and phone. This is the reason why training is needed before the staffs start to work, although some might only be simple tasks. The most common work for the front office worker will be a mix of getting in touch with customers and also helping out ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Management
Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings or equipment) and to intangible assets (such as human capital, intellectual property, goodwill or financial assets). Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks, and performance attributes). The term is commonly used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers that manage the assets of a pension fund. It is also increasingly used in both the business world and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance, and sustainability. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and ETFs. They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended. This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value, wher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies
A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an administration. There is a notable variety of agency types. Although usage differs, a government agency is normally distinct both from a department or ministry, and other types of public body established by government. The functions of an agency are normally executive in character since different types of organizations (''such as commissions'') are most often constituted in an advisory role—this distinction is often blurred in practice however, it is not allowed. A government agency may be established by either a national government or a state government within a federal system. Agencies can be established by legislation or by executive powers. The autonomy, independence, and accountability of government agencies also vary widely. History Early exa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Banking
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope. In modern usage in the United States, the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in the form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. History Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large Eu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Banking
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services (fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters 3000 Xtra
Reuters 3000 Xtra was an electronic trading platform which was released by Reuters in 1999 and supported until the end of 2013. It was typically used by professional traders and financial analysts in trading rooms. It was superseded by the Eikon platform, first released in 2010. 3000 Xtra provided real-time market data such as price data on exchange traded stocks, warrants, options, futures, indices, bonds, commodities and currencies, as well as streaming news and comprehensive economic indicators and financial data. Originally designed as an information system, later versions also introduced trading functions, allowing orders to be placed on a number of electronic exchanges and with other dealing desks. The client software connected to Reuters hardware at the client's premises, which combined multiple connections to the Reuters networks over redundant, fault-tolerant dedicated links, often private T1s. This was provided on-site via a proprietary and often redundant hardware ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Back Office
A back office in most corporations is where work that supports ''front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and clients. The back office is all the resources of the company that are devoted to actually producing a product or service such as data entry, payroll, accounting and all the other labor that is not seen by customers, such as administration or logistics. Broadly speaking, back office work includes roles that affect the costs side of a business's trading statement and front office work includes roles that affect the income side of a business's trading statement. Although the operations of a back office are seldom prominent, they are a major contributor to a business's success. They can include functions such as accounting, planning, inventory management, supply-chain management, human resources and logistics. Back offices are often located somew ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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