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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
wire house
A relatively large, multioffice brokerage firm that uses electronic communications to transmit customer orders for execution.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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.
Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.