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Receivables from and Payables to Brokers, Dealers, and Clearing Agencies

12 Months Ended

Dec. 31, 2012

Receivables from and Payables to Brokers, Dealers, and Clearing Agencies

6. RECEIVABLES FROM AND PAYABLES TO BROKERS, DEALERS, AND CLEARING AGENCIES

Amounts receivable from brokers, dealers, and clearing agencies consist of the following at December 31, 2012 and 2011, respectively.

RECEIVABLES FROM BROKERS, DEALERS, AND CLEARING AGENCIES

(Dollars in Thousands)

		December 31, 2012				December 31, 2011
Receivable from clearing organizations		$	1,084			$	51,619
Unsettled regular way trades, net			9,653				17,232
Deposits with clearing organizations			1,516				2,112
Receivables from brokers, dealers, and clearing agencies		$	12,253			$	70,963

Receivable from clearing organization represents un-invested cash held by the clearing organization, which includes cash proceeds from short sales.

Amounts payable to brokers, dealers, and clearing agencies consists of the following at December 31, 2012 and 2011, respectively.

PAYABLES TO BROKERS, DEALERS, AND CLEARING AGENCIES

(Dollars in Thousands)

		December 31, 2012				December 31, 2011
Margin payable		$	96,211			$	24,633
Payables to brokers, dealers, and clearing agencies		$	96,211			$	24,633

Securities transactions are recorded on a trade date, as if they had settled. The related amounts receivable and payable for unsettled securities transactions are recorded net in receivables from or payables to brokers, dealers, and clearing agencies on the Company’s consolidated balance sheets. The Company incurred interest on margin payable of $1,456, $2,513, and $828 for the years ended December 31, 2012, 2011 and 2010, respectively.

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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/presentationRef

-Publisher AICPA

-Name Audit and Accounting Guide (AAG)

-Number AAG-BRD

-Paragraph 24

-IssueDate 2006-05-01

-Chapter 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

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