trades

In finance, a trade is an exchange of a security (stocks, bonds, commodities, currencies, derivatives or any valuable financial instrument) for “cash”, typically a short-dated promise to pay in the currency of the country where the ‘exchange’ is located. Securities trade life cycle Order initiation and execution. (Front office function) Risk management and order routing. (Middle office function) Order matching and conversion into trade. (Front office function) Affirmation and confirmation. (back office function) Clearing and Settlement. (back office function)