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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2018
Fair Value Disclosures [Abstract] |
Summary of Categorization of Assets and Liabilities Measured at Fair Value | The tables below summarize the categorization of the Company’s assets and liabilities measured at fair value. During the three and six months ended June 2018 and 2017 there were no transfers between Levels 1, 2 and 3.
|  | June 30, 2018 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 70,744 |  |  | $ | 70,744 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  | 3,719 |  |  |  | 3,719 |  |  |  | — |  |  |  | — |
Total |  | $ | 74,463 |  |  | $ | 74,463 |  |  |  | — |  |  | $ | — |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AdvisorEngine Inc. – Option(1) |  | $ | 3,278 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,278 |
Thesys Group, Inc. – Series Y preferred stock(2) |  |  | 6,909 |  |  |  | — |  |  |  | — |  |  |  | 6,909 |
Total |  | $ | 10,187 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,187 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred consideration (Note 11) |  | $ | 162,848 |  |  | $ | — |  |  | $ | — |  |  | $ | 162,848 |
Securities sold, but not yet purchased |  |  | 2,026 |  |  |  | 2,026 |  |  |  | — |  |  |  | — |
Total |  | $ | 164,874 |  |  | $ | 2,026 |  |  | $ | — |  |  | $ | 162,848 |
|  | December 31, 2017 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 54,193 |  |  | $ | 54,193 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  | 66,294 |  |  |  | 1,691 |  |  |  | 64,603 |  |  |  | — |
Total |  | $ | 120,487 |  |  | $ | 55,884 |  |  | $ | 64,603 |  |  | $ | — |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AdvisorEngine Inc. – Option(1) |  | $ | 3,278 |  |  |  | — |  |  |  | — |  |  | $ | 3,278 |
Thesys Group, Inc. – Series Y preferred stock(2) |  |  | 6,909 |  |  |  | — |  |  |  | — |  |  |  | 6,909 |
Total |  | $ | 10,187 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,187 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold, but not yet purchased |  | $ | 950 |  |  | $ | 950 |  |  | $ | — |  |  | $ | — |
Total |  | $ | 950 |  |  | $ | 950 |  |  | $ | — |  |  | $ | — |
(1) | Fair value determined on December 29, 2017 (See Note 9)
(2) | Fair value determined on June 20, 2017 (See Note 9)
Summary of Reconciliation of Recurring Fair Value Measurements | The following table presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Deferred consideration (See Note 11) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance(1) |  | $ | 172,746 |  |  | $ | — |  |  | $ | 172,746 |  |  | $ | — |
Net realized losses/(gains)(2) |  |  | 2,715 |  |  |  | — |  |  |  | 2,715 |  |  |  | — |
Net unrealized losses/(gains)(3) |  |  | (9,898 | ) |  |  | — |  |  |  | (9,898 | ) |  |  | — |
Settlements |  |  | (2,715 | ) |  |  | — |  |  |  | (2,715 | ) |  |  | — |
Ending balance |  | $ | 162,848 |  |  | $ | — |  |  | $ | 162,848 |  |  | $ | — |
(1) | Arose in connection with the completion of the ETFS Acquisition on April 11, 2018 (See Note 3).
(2) | Recorded as contractual gold payments on the Company’s Consolidated Statements of Operations.
(3) | Recorded as gain on revaluation of deferred consideration on the Company’s Consolidated Statements of Operations.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=99377789&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 + Details
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