XML 25 R14.htm IDEA: XBRL DOCUMENT

Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2018
Financial Instruments With Off-balance-sheet Risk And Concentrations Of Credit Risk
Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk	8. Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk Retail customer transactions are cleared, on a fully disclosed basis, through two clearing brokers, one of which is an affiliate. In the event that customers are unable to fulfill their contractual obligations, the clearing broker may charge the Company for any loss incurred in connection with the purchase or sale of securities at prevailing market prices to satisfy customers' obligations. The Company regularly monitors the activity in its customer accounts for compliance with its margin requirements. Securities transactions entered into as of December 31, 2018 have settled subsequent thereto with no material adverse effect on the Company's financial statements. Credit risk represents the potential loss that would occur if counterparties fail to perform pursuant to the terms of their obligations. The Company is subject to credit risk to the extent a custodian or broker with whom it conducts business is unable to fulfill contractual obligations.