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Related Party Transactions
 3 Months Ended
Mar. 31, 2017
Related Party Transactions  
Related Party Transactions

17. Related Party Transactions

 

As of March 31, 2017, and December 31, 2016, the Company had a payable of $0.06 million and $0.06 million to its related parties, respectively, which are included in accounts payable and accrued expenses and other liabilities in condensed consolidated statements of financial condition.

 

In the ordinary course of business, the Company purchases and leases computer equipment and maintenance and support from affiliates of Dell Inc. (“Dell”). Temasek Holdings (Private) Limted and its affiliates have a significant ownership interest in Dell. During the three months ended March 31, 2017 and 2016, the Company paid $0.8 million and $0.9 million, respectively, to Dell for these purchases and leases.

 

In the ordinary course of business, the Company purchases network connections services from affiliates of Level 3 Communications (“Level 3”). Temasek Holdings (Private) Limted and its affiliates have a significant ownership interest in Level 3. During the three months ended March 31, 2017 and 2016, the Company paid $0.7 million and $0.6 million, respectively, to Level 3 for these services.

 

Additionally, the Company entered into a sublease arrangement with an affiliate of the Company’s Founder and Executive Chairman for office space no longer used by the Company in 2016. As of March 31, 2017, the Company has a receivable from of $0.04 million from this affiliate, which are included in accounts payable and accrued expenses and other liabilities in condensed consolidated statements of financial condition.