Receivables From And Payables To Brokers, Dealers, And Clearing Agencies

9 Months Ended

Sep. 30, 2013

Receivables from and Payables to Brokers, Dealers, and Clearing Agencies [Abstract]

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

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

Amounts receivable from brokers, dealers, and clearing agencies consisted of the following at September 30, 2013 and December 31, 2012, respectively.



RECEIVABLES FROM BROKERS, DEALERS AND CLEARING AGENCIES
(Dollars in Thousands)

	September 30, 2013		December 31, 2012
Deposits with clearing organizations	$	1,417	$	1,516
Unsettled regular way trades, net		13,111		9,653
Receivable from clearing organizations		953		1,084
Receivables from brokers, dealers, and clearing agencies	$	15,481	$	12,253

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

Amounts payable to brokers, dealers, and clearing agencies consisted of the following at September 30, 2013 and December 31, 2012, respectively.



PAYABLES TO BROKERS, DEALERS AND CLEARING AGENCIES
(Dollars in Thousands)

	September 30, 2013		December 31, 2012
Margin payable	$	5,406	$	96,211
Payables to brokers, dealers, and clearing agencies	$	5,406	$	96,211

Securities transactions are recorded on the 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 $752 and $1,128 for the nine months ended September 30, 2013 and 2012, respectively, and $233 and $297 for the three months ended September 30, 2013 and 2012, respectively.