Wire house

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.
References in periodicals archive ?
Plant growth experiments were conducted both in the laboratory as well as under wire house conditions.
The fire destroyed Wire House that accommodated 175 learners.
The dormitory, commonly referred to us Wire House, was completely destroyed.
True, the glorified wire house (Charlie Merrill's churn and burn Thundering Herd of Bank Street, Bur Dubai - how I miss you!) that is now Jamie Gorman's Morgan Stanley commands a higher market cap then Goldman Sachs.
At that point, the combined business starts to look like a wire house, rather than a fiduciary RIA."
Robertson has previously been at Goldman Sachs Asset Management (NYSE: GS) for eight years, including most recently as a vice president and divisional sales manager for its wire house and regional broker dealer distribution channel.
First Capital will serve as an equity investor, allowing the companies to focus on providing investors with access to specialized managers and differentiated investment products through its now expanded multi-manager distribution platform, spanning institutional, wire house, regional and independent broker dealers.
* RIAs were the second largest channel with slightly more than $1.6 trillion in fund and ETF assets, a 17% increase over 2012, followed by the wire house channel with $1.6 trillion
The Rocky Light Insurance Company, for example, may provide extra financial support to a large wire house, Muckle, Duckle, Chuckle and Turnip.
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.