Meglerhus

Meglerhus, or brokerage house, is a financial services firm that acts as an intermediary between buyers and sellers of securities and provides related services such as research, advisory, and capital markets activities. Core functions include facilitating trades for retail and institutional clients, market-making, underwriting new issues, and offering corporate finance advice. Many meglerhus also provide asset management and custody services. Revenue comes from commissions and fees, bid-ask spreads, underwriting fees, and advisory charges.

Meglerhus operate on public exchanges or over-the-counter markets and serve a mix of private investors, pension funds, corporations, and other institutions. They may be part of larger banking groups or operate as independent firms, with some specializing in equity research, sales and trading, investment banking, or advisory services. In some markets they act as market makers or provide research coverage and distribution of new issues.

Regulation and supervision: Meglerhus are subject to financial regulation in their jurisdiction. In Norway, such firms are typically regulated as verdipapirforetak by the Financial Supervisory Authority of Norway (Finanstilsynet), with licensing, capital requirements, risk management, client due diligence, and anti-money laundering obligations. They must also comply with exchange rules and reporting standards.

History and context: The concept expanded with the growth of organized securities markets in the 19th and 20th centuries. Over time, industry consolidation, regulatory changes, and technology have shaped the modern meglerhus, often focusing on institutional services, investment banking, or asset management, while some continue to serve retail clients through hybrid or online platforms.