Wirehouse Definition
noun
(North America, finance) A major brokerage company, generally nationwide, with multiple branches.
Wiktionary
1905, The World’s work, Volume 9, Doubleday, Page & Co..
The “market information” is more diversified than formerly, and in many ways the “wire house” can fill a place that the old-style …
Wiktionary
Other Word Forms of Wirehouse
Noun
Singular:
wirehouse
Plural:
wirehousesOrigin of Wirehouse
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1904, wire + house (“company”), from earlier private-wire house (1894). Originally referred to brokerage companies that owned or leased telegraph lines, so that market information could be transmitted more quickly. Later generalized to “major brokerage”. Wirehouses are now defined by that they have a direct access to "Fed-Fund Wires", which is the system in which all banks and only the big brokerage houses can "wire" money directly from one account to another. Smaller brokerage firms do not have their own wire line, but need to send transactions by transmitting them through a bank's wire system.
From Wiktionary
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