Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

14. Commitments and Contingencies

Contractual Obligations

The Company has entered into obligations under operating leases with initial non-cancelable terms in excess of one year for office space, telephone and data services. Expenses recorded under these agreements for the three months ended June 30, 2018 and 2017 were approximately $1,289 and $1,030, respectively, and for the six months ended June 30, 2018 and 2017 were $2,316 and $2,150, respectively.

Future minimum lease payments with respect to non-cancelable operating leases at June 30, 2018 were approximately as follows:


Remainder of 2018	$	2,432
2019		4,332
2020		3,915
2021		3,088
2022 and thereafter		21,300

Total	$	35,067

AdvisorEngine

At June 30, 2018, the Company had a commitment to provide $3,000 of additional working capital to AdvisorEngine which is scheduled to be provided on September 30, 2018 if no event of default (as defined) has occurred and is continuing (See Note 8).

Letter of Credit

The Company collateralized its U.S. office lease through a standby letter of credit totaling $1,384. The collateral is included in cash and cash equivalents on the Company’s Consolidated Balance Sheets.

Contingencies

The Company may be subject to reviews, inspections and investigations by regulatory authorities as well as legal proceedings arising in the ordinary course of business. The Company is not currently party to any litigation that is expected to have a material adverse impact on its business, financial position, results of operations or cash flows.