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Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations | 6 Months Ended
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Jun. 30, 2024
Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations [Abstract] |
Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations | 6. 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 June 30, 2024 |  |  | As of December 31, 2023 |
Receivables from and deposits with broker-dealers and clearing organizations |  |  |  |  |  |
DTCC / OCC / NSCC (1) |  | $ | 12,529,000 |  |  | $ | 9,332,000 |
Goldman Sachs & Co. LLC (“GSCO”) |  |  | 43,000 |  |  |  | 38,000 |
National Financial Services, LLC (“NFS”) |  |  | 2,402,000 |  |  |  | 2,212,000 |
Securities fail-to-deliver |  |  | 928,000 |  |  |  | 119,000 |
Globalshares |  |  | 97,000 |  |  |  | 47,000 |
Total Receivables from and deposits with broker-dealers and clearing organizations |  | $ | 15,999,000 |  |  | $ | 11,748,000 |
Payables to broker-dealers and clearing organizations |  |  |  |  |  |  |  |
Securities fail-to-receive |  | $ | 3,847,000 |  |  | $ | 399,000 |
Payables to broker-dealers |  |  | 1,168,000 |  |  |  | 82,000 |
Total Payables to broker-dealers and clearing organizations |  | $ | 5,015,000 |  |  | $ | 481,000 |
(1) | Depository Trust & 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 June 30, 2024 and December 31, 2023, MSCO had shares of DTCC common stock valued at approximately $1,145,000 and $1,236,000, respectively, which is included within 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, and had cash of approximately $1.1 million and $1.0 million in its brokerage account at MSCO as of June 30, 2024 and December 31, 2023, respectively. The resulting asset of RISE and liability of MSCO is eliminated in consolidation.

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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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481804/940-20-50-1 + Details
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