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, Brookfield will acquire certain assets of Liberty Street's affiliates, HRC Fund Associates, LLC and HRC Portfolio Solutions, LLC, a New York-based third-party marketing and servicing agent of CCC products to financial advisors and wealth managers at major wire houses, independent registered investment advisers and independent broker-dealers.
Many of the largest wealth managers including three of the top four wire houses and 47 of the top 50 global asset managers2 incorporate MSCI ESG Research into their investment decision making process.
Practices now range from one-man shops to firms large enough to rival the wire houses while investment approaches run the gamut.
Traditional competitors, including large wire houses, have moved out, leaving only banks and their product-focused wealth management solutions.
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.
Cerulli estimated that state-registered trust companies control $446 billion in HNW assets, making them the third-largest HNW channel, albeit far behind wire houses with $2.
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.
They offer their products and services to owners of P&C agencies, benefits brokers, independent broker dealers and wire houses.
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.