The document outlines the key functions of front, middle, and back office operations for an energy trading risk management model. The front office analyzes market positions, checks trading limits, evaluates and executes trades, and reports performance. The middle office monitors positions, prices, and risk versus limits. The back office schedules operations, receives and reconciles statements, performs invoicing and settlement functions.

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ETRM model
Analyse position
&
Market
Check Trading
Limit
Evaluate trade Execute trade
Front Office
Report
Performance
vs Benchmark
Monitor
Positions
& Prices
Report Risk
vs Limits
Middle Office
Schedule Receive ActualsForecast
Operations
Generate
Confirmation
Reconcile
Broker
Statement
Perform
Invoicing
& Settlement
Back Office
Trade?