Definition – What does Back Office mean?
Back office refers to the IT, accounting and staffing support at a bank, forex trading firm, brokerage or other financial institution. For many forex brokers, the back office is dedicated to recording trades, ensuring that trading platforms are functioning and generally making sure that trade settlement happens in an efficient manner.
ForexTerms explains Back Office
Forex brokerages may actually share back office functions to keep costs down. Although they can outsource things like IT support and some administrative functions, most brokers need to keep a back office to ensure they meet the regulations of their home country.