Wirehouse

Wirehouse,

Wirehouse means,

Communication company is a term used to describe a full service broker. Modern spinning mills range from small global brokers to large corporations worldwide. The term was coined when brokerages were connected to their branches mainly through private telephone and telegraph cables. This network gives connection agencies instant access to market information like head office, so brokers can provide their clients with the latest stock quotes and market news.

  • Cable companies are full service brokers of all sizes.
  • The term telecommunications company is reminiscent of the days when arbitration agencies were connected by private telephone or telegraph lines, so that all agencies had direct access to market information like the residents.
  • Although in everyday practice almost all financial institutions have gone beyond this thread, the term is still used today to describe these institutions.