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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Loss Related to Principal Transactions | The following table presents the Company’s major revenue categories and when each category is recognized:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |  |
Revenue Category |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | Timing of Recognition
Trading Execution and Clearing Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions and fees |  | $ | 1,853,000 |  |  | $ | 4,325,000 |  |  | $ | 4,193,000 |  |  | $ | 11,333,000 |  |  | Recorded on trade date
Principal transactions and proprietary trading |  |  | 1,081,000 |  |  |  | 4,107,000 |  |  |  | 814,000 |  |  |  | 8,355,000 |  |  | Recorded on trade date
Market making |  |  | 535,000 |  |  |  | 1,758,000 |  |  |  | 1,299,000 |  |  |  | 3,372,000 |  |  | Recorded on trade date
Stock borrow / stock loan |  |  | 4,148,000 |  |  |  | 2,240,000 |  |  |  | 7,726,000 |  |  |  | 4,087,000 |  |  | Recorded as earned
Advisory fees |  |  | 476,000 |  |  |  | 403,000 |  |  |  | 983,000 |  |  |  | 759,000 |  |  | Recorded as earned
Total Trading Execution and Clearing Services |  |  | 8,093,000 |  |  |  | 12,833,000 |  |  |  | 15,015,000 |  |  |  | 27,906,000 |  |  |
Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest, marketing and distribution fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest |  |  | 572,000 |  |  |  | 1,163,000 |  |  |  | 807,000 |  |  |  | 2,317,000 |  |  | Recorded as earned
Margin interest |  |  | 2,201,000 |  |  |  | 2,296,000 |  |  |  | 4,168,000 |  |  |  | 4,448,000 |  |  | Recorded as earned
12b-1 fees |  |  | 378,000 |  |  |  | 164,000 |  |  |  | 538,000 |  |  |  | 317,000 |  |  | Recorded as earned
Total Interest, marketing and distribution fees |  |  | 3,151,000 |  |  |  | 3,623,000 |  |  |  | 5,513,000 |  |  |  | 7,082,000 |  |  |
Other income |  |  | 479,000 |  |  |  | 337,000 |  |  |  | 1,503,000 |  |  |  | 729,000 |  |  | Recorded as earned
Total Revenue |  | $ | 11,723,000 |  |  | $ | 16,793,000 |  |  | $ | 22,031,000 |  |  | $ | 35,717,000 |  |  |
Schedule of represents the loss related to principal transactions | During the six months ended June 30, 2022, the Company invested in a portfolio of U.S. government securities, which is primarily within the line item cash and securities segregated for regulatory purposes on the statements of financial condition. The following table represents detail related to principal transactions and proprietary trading. Refer to the year-over-year comparisons within Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations within this Report for additional detail.
|  | Three Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | (Year over Year Decrease) |
Principal transactions and proprietary trading |  |  |  |  |  |  |  |  |  |  |  |
Realized and unrealized gain on primarily riskless principal transactions |  | $ | 1,698,000 |  |  | $ | 4,114,000 |  |  | $ | (2,416,000 | )
Unrealized loss on portfolio of U.S. government securities |  |  | (617,000 | ) |  |  | (7,000 | ) |  |  | (610,000 | )
Total Principal transactions and proprietary trading |  | $ | 1,081,000 |  |  | $ | 4,107,000 |  |  | $ | (3,026,000 | )
|  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | (Year over Year Decrease) |
Principal transactions and proprietary trading |  |  |  |  |  |  |  |  |  |  |  |
Realized and unrealized gain on primarily riskless principal transactions |  | $ | 3,616,000 |  |  | $ | 8,369,000 |  |  | $ | (4,753,000 | )
Unrealized loss on portfolio of U.S. government securities |  |  | (2,802,000 | ) |  |  | (14,000 | ) |  |  | (2,788,000 | )
Total Principal transactions and proprietary trading |  | $ | 814,000 |  |  | $ | 8,355,000 |  |  | $ | (7,541,000 | )
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 and proprietary trading, Market making, Stock borrow / stock loan, Advisory fees |  | Provide financial services to customers and counterparties
Interest, marketing and distribution fees, Other income |  | n / a

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- Definition 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. + References No definition available. + Details
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