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.
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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.
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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.
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The big wire houses hedged their bets by taking stakes in the various electronic communications networks that emerged in the 1990s.
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Unusual suspects: companies best known for selling stocks or issuing credit cards are making inroads into the life insurance marketplace through selling and manufacturing life and annuity products
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