The tasks

[[Picture: Short_call.png|thumb|300px|Auszahlungsdiagramm of a Short call PositionAufgabe of the Backoffices is defined the confirmation of the business opposite a contractor and the completion of the payments]] "„the announcement over minimum requirements, connected with this business, to the operation of commercial transactions of the credit institutes "“in point 4,2. as central task of the completion:

The completion has the business confirmations and/or the accounts on the basis the business documents received from the trade to execute as well as the further completion (e.g. date monitoring, payment) to make.

This task definition does not however only apply to credit institutes, but applies also to the appropriate departments in industrial enterprises.

Confirmation, date monitoring and exchange - central tasks of the completion

Central task of the completion is it to confirm those either in writing by telephone or over commercial platforms by the trade with the business contractor entered transactions or to adjust received business confirmations with the contracts seized usually in the Treasury system. In principle the confirmation takes place immediately. With standardized transaction types as for instance money commercial transactions is made it usually by confirmation systems and then still takes place on the day of the conclusion of a deal. With less standardized transactions the confirmation is made by the post office way and is then usually present at the second working-day after conclusion of a deal. The confirmation must contain all business data including the conclusion date. If the coworkers of the completion determine a deviation between the business documents of the enterprise and the confirmation of the contractor, they must react to it immediately. This can cover an establishment of contact with the dealer - thus that, which locked the business by telephone in the Frontoffice - or depending upon range of the deviation an escalation up to the finance executive committee or for the finance management responsible managing director of an enterprise. Exactly like control of the confirmation also clarifying of discrepancies is to be documented in appropriate way.

To the central tasks it belongs to a completion in addition to follow liabilities entered with the final financial transactions. In addition for example, the impact of the payments in the context of money commercial transactions or the achievement of the interest payments counts the payment of premiums from the conclusion of options with interest business. The posting of the payments including the monitoring, whether demands for payment were fulfilled within the prescribed period, takes place against it in the bank bookkeeping of the account system. With the exchange the date monitoring of the transactions is closely linked. Thus the completion supervises whether for example with maturity of bought options the trade makes a decision over the practice of the option.

"„The minimum requirements to the operation of trade business with credit institutes "“defined also control of the market conformity as task of the completion. The allocation to the completion instead of to the Risikocontrolling is in as much logical as the completion concerns itself with the individual transaction, while the Risikocontrolling supervises the risk position altogether. Independently of the allocation the conversion of this requirement prepares however in practice problems. With strongly standardized transactions as for example the conversion is still possible for as over market data systems such as Reuters or Bloomberg the market prices are determined to the point of termination time. With less market-liquid financial market business as for example Zinsswaps with individually negotiated running times or exotic option constructions is not possible this. As acceptable one regards, if at the end of the daily all again locked transactions are evaluated and the completion the business on remarkablenesses examine.

Extended field of application

The execution mass exchange for the payment of the obligations of the accounts payable does not belong to the classical core authority of the Backoffice. In many enterprises however the completion is also responsible for the forwarding of the exchange files at banks, prepared in the bookkeeping, negotiates the conditions of the exchange and examines their observance. These tasks are settled and here more near are therefore not described however just as frequently also in the cash management of an enterprise.

The examination, whether transactions only authorized by the trade were transacted and whether granted contractor and were kept, is the completion occasionally also assigned. In addition, but frequently the Risikocontrolling is responsible.

To the extended field it belongs to a completion also to prepare data from financial transactions for the account system and the balance range of an enterprise.

The processes

A well working completion works on basis more established and carefully organized processes. This is necessary, because every now and then only very short time windows are to the coworkers at the disposal, in order to accomplish certain tasks. If the trade locked for example at 12 o'clock a USD Overnight, with which it puts on available liquidity in USD on the money market, the Backoffice has to complete the exchange belonging to this business only to 14 o'clock time. The working process must guarantee that the conclusion this business is noticed immediately in the completion and the execution - in this case the transfer of the money onto the bank accounts of the contract partner, in all rule a large clearing bank - time fair and under attention by safety precautions like four-eye control is accomplished. If such a payment is not accomplished in time, an one-day delay can already entail punishing interest with the transaction sizes usual for large-scale enterprises and banks, which exceed the equivalent of a small car clearly.

Before the Frontoffice locks new financial instruments, in the apron it is therefore examined whether the Backoffice is at all able to complete this instrument also within the prescribed period.

In large enterprises as for example the companies noted in the DAX are the processes between trade and completion to a large extent automated and of a so-called Treasury system supported. The input of a financial transaction leads then for example system internally to an automatic notification of the Backoffices that a further business was transacted. Also the work procedures, which are necessary during a business confirmation, are to a large extent automatically supported, as Internet platforms are used. Standard business as for example daily and date cash transactions is conveyed electronically by both contractors of such a business there and adjusted automatically. For less standardized business or such as for example option constructions exotic with small sales volume, conclusions on raw goods or new products such as weather derivatives a confirmation was in Papierform in the year 2005 the still usual confirmation form. That applies also, if the two contractors are not attached the same confirmation platform. The number during automated processes adjusted of transactions will increase clearly however in the next years.

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