Wire house

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 ?
Contractor address : 8, Jyoti Wire House, 2nd Floor,
Pruett joins BNY Mellon from Neuberger Berman, where he was national sales manager for the wire house channel.
Captive agents, bank employees and wire house stockbrokers often do not have the freedom and discretion to act for the client and themselves that is the heart of the fundamental power I describe.
Many former wire house bankers have left their Wall Street jobs since the turbulence of last fall and have taken clients with them, creating investment advisory boutiques that direct new trades to online and discount brokers such as Charles Schwab, TD Ameritrade, E*Trade and the privately held Scottrade.
The adviser hears, 'I like what you've done with my CD rollover, and I also bare a 401(k) rollover at the wire house [big, national brokerage firm] clown the street," explains Robinson.
The market changes that made these new products attractive also introduced greater complexity in channel relationships as the lines between investments and insurance blurred even further, and a carrier's producer could just as likely be a large wire house as a captive insurance agent.
Tenders are invited for Construction Of Drug Wire House Of Chc At Podia Under Nhm
The Rocky Light Insurance Company, for example, may provide extra financial support to a large wire house, Muckle, Duckle, Chuckle and Turnip.
The findings revealed adviser perceptions of their firm's financial stability have improved, most notably among employees of wire house firms and independent advisers.
Whereas money was primarily raised for these managers by wire house financial advisors via managed futures product in the early years of the industry, managers now list their funds on institutionally focused capital raising platforms and further develop their own hedge fund-like marketing teams to directly raise assets.
At Capitol, successful advisors are able to get the best of both worlds; the people first environment of a regional firm combined with the world class products, services and security of a bank or wire house through its custody and clearing partner, Pershing, LLC.
At Capitol successful advisors are able to get the best of both worlds; the people first environment of a regional firm combined with the world class products, services and security of a bank or wire house through its custody and clearing agent, Pershing, LLC.