Wire house

(redirected from Wire Houses)

Wire house

A firm operating a private wire to its own branch offices or to other firms, commission houses, or brokerage houses.

Wire House

A company or other institution with multiple offices that are connected via an independent computer system. This allows for the easy and secure sharing of financial and other information. The term is usually used for banks and brokerages.

wire house

A relatively large, multioffice brokerage firm that uses electronic communications to transmit customer orders for execution.

Wire house.

National brokerage firms with multiple branches were, in the past, linked by private telephone or other telecommunications networks that enabled them to transmit important news about the financial markets almost instantaneously.

Because of these lines, or wires, the firms became known as wire houses.

Although the Internet now makes it possible for all firms -- and even individual investors -- to have access to high-speed electronic data, the largest brokerage firms are still referred to as wire houses because of the technological edge they once enjoyed.

References in periodicals archive ?
Additionally, wire houses will be able to set-up permissions for different groups (i.
Quite frankly, based upon my prior transaction experience, I had believed that the level of advice provided to us by LockeBridge was only available at the major wire houses which have large deal teams managing transactions in the hundreds of millions or billions of dollars.
Wire houses are being acquired by large commercial banks which facilitate an individual having all of their financial needs served by one organization from checking accounts and certificates to loans and on to investments and insurance.
In addition to being responsible for sales and marketing at a major life insurance carrier, he was instrumental in developing their expansion into the brokerage market as well as with producer groups, wire houses and banks.
Sometimes, annuity companies pay relatively large sums to wire houses, too, in order to gain access to reps, even when the annuity company in question earns most of its income from a different channel.
This year could offer financial professionals a golden opportunity to attract clients who have been hurt by wire houses or big broker-dealer firms.
The big wire houses hedged their bets by taking stakes in the various electronic communications networks that emerged in the 1990s.
And AAM is giving the big-city wire houses a run for their clients' money.
Xchange is a contracting, securities registration and insurance licensing administration application targeted to major wire houses, institutional and independent broker dealer clients, as well as major insurance carriers and distributors.
professional electricians who wire houses and make changes from fuse boxes to circuit breaker boxes in the home setting, clothing manufacturers and retailers of merchandise for apparel for diverse occasions are necessary.