Back-Office & RMS

The back-office and RMS (Risk Management System) is the system of record for client trading activity. Once a customer completes KYC onboarding and the checker approves the application, the client master record is pushed to the back-office system, which then governs trading limits, margin parameters, and compliance monitoring for the life of the account. This page compares the major back-office platforms in the Indian brokerage market and explains how the KYC system integrates with them.

Vendor Comparison

The Indian brokerage back-office market is dominated by a small number of platforms. Understanding which one your firm uses is essential, as it determines the format and protocol for client master data synchronization.

Vendor	Product	Market Share	Key Features
63 Moons (Recommended)	ODIN	70-80%	Multi-exchange (NSE/BSE/MCX). Front + Mid + Back + RMS. 1M+ licensees. 600+ cities.
Symphony Fintech (Alternate)	XTS	Growing	OMS (Order Management System) + RMS + Compliance. XTS OTIS (NSE NOTIS alternative). 10+ years.
TCS (Alternate)	BaNCS	~30% volume	Integrated trading, clearing, surveillance. 30+ brokerage orgs. ICICI Securities partnership.
OmneNEST (Alternate)	OmneNEST	200+ brokers	Powers Zerodha Kite, Upstox, Finvasia. BSE/NSE/MCX.

Integration with KYC Onboarding

The back-office system receives client master data after checker approval. This is the handoff point between the KYC system and the trading infrastructure.

1. Post-approval sync: Client master record pushed to ODIN/XTS
2. Trading limits: Based on income range and segment activation
3. Margin parameters: Set based on risk profile
4. Segment activation: CM/FNO/CD/COM flags synced with exchange UCC (Unique Client Code) status

The six attributes that must match everywhere

SEBI (Securities and Exchange Board of India) requires that six KYC attributes — Name, PAN (Permanent Account Number), Address, Mobile, Email, and Income Range — match exactly across the KRA (KYC Registration Agency), exchange UCC, depository BO (Beneficiary Owner) record, and the back-office client master. If any of these drift out of sync, it can trigger compliance flags and potentially block the customer from trading.

Key Considerations

• Back-office integration is a post-onboarding concern
• Client master record must match exactly between back-office, exchange UCC, and depository BO
• Real-time sync required for activation status changes
• RMS parameters set during client master creation