Читать книгу Effective Product Control - Nash Peter - Страница 24

Middle office does not exist within every bank and, if it does, their roles and responsibilities will not be consistent across the industry.

As we touched on earlier in the book, product control can also be situated within middle office, but for the purposes of this chapter, we will cover those middle office tasks where product control are located within finance.

Middle office are closely aligned with the desk as they are responsible for:

• Trade bookings on behalf of the desk.

• Effecting the daily fixings for indices such as LIBOR.

• Saving down into the RMS (or equivalent) the desk's end of day marks which will be used to revalue their portfolio.

Product control rely on middle office for:

• Information on new and amended trade bookings, particularly those which generate significant day one P&L.