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Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Major Revenue Categories

The following table presents the major revenue categories and when each category is recognized (unaudited):

		Three Months Ended September 30,								Nine Months Ended September 30,
Revenue Category		2019				2018				2019				2018			Timing of Recognition
Trading Execution and Clearing Services
Commissions and fees		$	1,925,000			$	2,347,000			$	6,030,000			$	7,380,000		Recorded trade date
Principal transactions			2,041,000				2,634,000				5,479,000				7,838,000		Recorded trade date
Advisory fees and additional income			234,000				172,000				626,000				378,000		Recorded as earned
Other Income
Margin interest, marketing and distribution fees
Margin interest			2,151,000				1,943,000				6,254,000				5,454,000		Recorded as earned
12b1 fees			793,000				788,000				2,245,000				2,499,000		Recorded as earned
Total Margin interest, marketing and distribution fees			2,944,000				2,731,000				8,499,000				7,953,000
Total Revenue		$	7,144,000			$	7,884,000			$	20,634,000			$	23,549,000

Schedule of Performance Obligation

The following table presents each revenue category and its related performance obligation:

Revenue Stream	Performance Obligation
Commissions and fees, Principal transactions, Advisory fees and additional income	Provide security trading services to customer and act as agent
Margin interest, marketing and distribution fees	n/a

Disaggregation of revenue

The following table presents a breakdown of the Company’s revenue between the amounts attributed to the retail customer accounts that were originally part of Siebert (“Legacy Siebert”) vs. the retail customer accounts acquired from StockCross (“StockCross accounts”) (unaudited):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2019				2018				2019				2018
Revenue from Margin interest, marketing and distribution fees:
Margin interest, marketing and distribution fees – Legacy Siebert		$	2,566,000			$	2,409,000			$	7,451,000			$	7,049,000
Margin interest, marketing and distribution fees – StockCross accounts			378,000				322,000				1,048,000				904,000
Total Revenue from Margin interest, marketing and distribution fees			2,944,000				2,731,000				8,499,000				7,953,000
Revenue from Commissions and fees:
Commissions and fees – Legacy Siebert			1,544,000				1,950,000				5,043,000				5,914,000
Commissions and fees – StockCross accounts			381,000				397,000				987,000				1,466,000
Total Revenue from Commissions and fees			1,925,000				2,347,000				6,030,000				7,380,000
Revenue from Principal transactions:
Principal transactions – Legacy Siebert			582,000				437,000				1,496,000				1,514,000
Principal transactions – StockCross accounts			1,459,000				2,197,000				3,983,000				6,324,000
Total Revenue from Principal transactions			2,041,000				2,634,000				5,479,000				7,838,000
Additional Revenue:
Advisory fees – Legacy Siebert			211,000				138,000				572,000				309,000
Interest – Legacy Siebert			23,000				34,000				54,000				69,000
Total Revenue		$	7,144,000			$	7,884,000			$	20,634,000			$	23,549,000

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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