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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Measurements [Abstract] |
Schedule of estimated fair values | The tables below present, by level within the fair value hierarchy, financial assets and liabilities, measured at fair value on a recurring basis for the periods indicated. As required by ASC Topic 820, financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the respective fair value measurement.
|  | As of September 30, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and securities segregated for regulatory purposes |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 118,101,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 118,101,000 |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 17,875,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,875,000 |
Certificates of deposit |  |  | — |  |  |  | 113,000 |  |  |  | — |  |  |  | 113,000 |
Municipal securities |  |  | — |  |  |  | 319,000 |  |  |  | — |  |  |  | 319,000 |
Corporate bonds |  |  | — |  |  |  | 131,000 |  |  |  | — |  |  |  | 131,000 |
Equity securities |  |  | 117,000 |  |  |  | 132,000 |  |  |  | — |  |  |  | 249,000 |
Total Securities owned, at fair value |  | $ | 17,992,000 |  |  | $ | 695,000 |  |  | $ | — |  |  | $ | 18,687,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold, not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |
Total Securities sold, not yet purchased, at fair value |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |
|  | As of December 31, 2022 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and securities segregated for regulatory purposes |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 140,978,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 140,978,000 |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 2,808,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,808,000 |
Certificates of deposit |  |  | — |  |  |  | 92,000 |  |  |  | — |  |  |  | 92,000 |
Municipal securities |  |  | — |  |  |  | 52,000 |  |  |  | — |  |  |  | 52,000 |
Corporate bonds |  |  | — |  |  |  | 7,000 |  |  |  | — |  |  |  | 7,000 |
Equity securities |  |  | 63,000 |  |  |  | 182,000 |  |  |  | — |  |  |  | 245,000 |
Total Securities owned, at fair value |  | $ | 2,871,000 |  |  | $ | 333,000 |  |  | $ | — |  |  | $ | 3,204,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold, not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 2,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,000 |
Total Securities sold, not yet purchased, at fair value |  | $ | 2,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,000 |
Schedule of U.S. government securities with the below market values and maturity dates | The Company had U.S. government securities with the below market values and maturity dates for the periods indicated:
|  | As of September 30, 2023 |
Market value of U.S. government securities portfolio |  |  |
Maturing in 2023 |  | $ | 67,245,000 |
Maturing in 2024 |  |  | 64,505,000 |
Maturing in 2025 |  |  | 3,918,000 |
Accrued interest |  |  | 308,000 |
Total Market value of U.S. government securities portfolio |  | $ | 135,976,000 |
|  |  | As of December 31, 2022 |
Market value of U.S. government securities portfolio |  |  |  |
Maturing in 2023 |  | $ | 106,873,000 |
Maturing in 2024 |  |  | 36,506,000 |
Accrued interest |  |  | 408,000 |
Total Market value of U.S. government securities portfolio |  | $ | 143,787,000 |
Schedule of estimated fair values |
|  | As of September 30, 2023 |  |  | As of December 31, 2022 |
Equity method investment in related party |  | $ | — |  |  | $ | 2,584,000 |

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