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An Introduction to Trading In the Financial Markets: Technology: Systems, Data, and Networks by R. Tee Williams

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2

Functions

As we noted in this book’s Background section, financial entities are organized to perform the activities required in the normal course of business. Therefore, we examine the majority of the activities by examining the systems required to support the business functions defined in Book 1, Part 4. The major functions we examine are split between the buy and sell sides and are further divided among the front, middle, and backoffices on each side.

These functions are represented in Figure 1.2. Risk management and compliance are described in Book 4 and are not addressed here. Also, we do not focus on the needs of the functions involved with investment banking.

Figure 1.2 Systems supporting business functions enable the activities that ...

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