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Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations | 12 Months Ended
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Dec. 31, 2022
Due to and from Broker-Dealers and Clearing Organizations [Abstract] |
Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations | 5. Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations Amounts receivable from, payables to, and deposits with broker-dealers and clearing organizations consisted of the following as of the periods indicated:
|  | As of December 31, 2022 |  |  | As of December 31, 2021 |
Receivables from and deposits with broker-dealers and clearing organizations |  |  |  |  |  |  |
DTCC / OCC / NSCC (1) |  | $ | 8,187,000 |  |  | $ | 10,968,000 |
GSCO |  |  | 31,000 |  |  |  | 335,000 |
Pershing |  |  | 96,000 |  |  |  | 1,193,000 |
NFS |  |  | 2,006,000 |  |  |  | 974,000 |
Securities fail-to-deliver |  |  | 3,000 |  |  |  | 174,000 |
Globalshares |  |  | 82,000 |  |  |  | 55,000 |
Other receivables |  |  | — |  |  |  | 27,000 |
Total Receivables from and deposits with broker-dealers and clearing organizations |  | $ | 10,405,000 |  |  | $ | 13,726,000 |
Payables to broker-dealers and clearing organizations |  |  |  |  |  |  |  |
Securities fail-to-receive |  | $ | 396,000 |  |  | $ | 254,000 |
Payables to broker-dealers |  |  | 264,000 |  |  |  | — |
Total Payables to broker-dealers and clearing organizations |  | $ | 660,000 |  |  | $ | 254,000 |
(1) Depository Trust and Clearing Corporation is referred to as (“DTCC”), Options Clearing Corporation is referred to as (“OCC”), and National Securities Clearing Corporation is referred to as (“NSCC”).
Under the DTCC shareholders’ agreement, MSCO is required to participate in the DTCC common stock mandatory purchase. As of December 31, 2022 and 2021, MSCO had shares of DTCC common stock valued at approximately $1,054,000 and $905,000, respectively, which are included in the line item “Deposits with broker-dealers and clearing organizations” on the statements of financial condition. In September 2022, MSCO and RISE entered into a clearing agreement whereby RISE would introduce clients to MSCO. As part of the agreement, RISE deposited a clearing fund escrow deposit of $50,000 to MSCO. The resulting asset of RISE and liability of MSCO are eliminated in consolidation. There was no income or expense related to this clearing relationship for the year ended December 31, 2022. The Company is in the process of terminating its clearing relationships with GSCO and Pershing as of December 31, 2022. As of the date of this report, the Company is no longer doing active business with these clearing vendors, and anticipates the full termination of these relationships by the end of the first quarter of 2023.

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- Definition The entire disclosure for Due to and from Broker-Dealers and Clearing Organizations, including data and tables. This may include amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records. + References No definition available. + Details
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