A wirehouse is a term used to describe a full-service broker-dealer. Modern-day wirehouses range from small regional brokerages to large institutions with global footprints. The term was coined when brokerage firms were connected to their branches primarily through private telephone and telegraph wires. This network connection enabled branches to have instantaneous access to the same market information as the head office, thereby allowing brokers to provide up-to-date stock quotes and market news to clients.
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