Notes from the operations desk.

Notes from brokerage operations: the client record, live risk, multi-brand setups and the cost of systems that do not agree.

Every system in a brokerage believes it owns the client. Reconciliation is what that belief costs.

End-of-day risk reporting answers a question that stopped mattering hours earlier.

What has to be shared, what has to stay separate, and where multi-brand setups usually break.