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Financial Instruments | 12 Months Ended
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Dec. 31, 2015
Financial Instruments [Abstract] |
Financial Instruments | 8. FINANCIAL INSTRUMENTS Investments—Trading The following table provides detail of the investments classified as investments-tradi ng as of the periods indicated.
INVESTMENTS - TRADING
(Dollars in Thousands)
|  | December 31, 2015 |  | December 31, 2014
U.S. government agency MBS and CMOs |  | $ | 3,225 |  | $ | 9,719
U.S. government agency debt securities |  |  | 12,737 |  |  | 25,785
RMBS |  |  | 98 |  |  | 358
U.S. Treasury securities |  |  | 1,355 |  |  | 1,131
CLOs |  |  | - |  |  | 952
Other ABS |  |  | 2,048 |  |  | 112
SBA loans |  |  | 29,931 |  |  | 29,679
Corporate bonds and redeemable preferred stock |  |  | 19,873 |  |  | 22,142
Municipal bonds |  |  | 24,053 |  |  | 33,664
Derivatives |  |  | 1,158 |  |  | 1,930
Certificates of deposit |  |  | 263 |  |  | 985
Equity securities |  |  | - |  |  | 291
Investments-trading |  | $ | 94,741 |  | $ | 126,748
Trading Securities Sold, Not Yet Purchased The following table provides detail of the trading securities sold, not yet purcha sed as of the periods indicated.
TRADING SECURITIES SOLD, NOT YET PURCHASED
(Dollars in Thousands)
|  | December 31, 2015 |  | December 31, 2014
U.S. government agency MBS |  | $ | - |  | $ | 1,666
U.S. Treasury securities |  |  | 12,050 |  |  | 15,644
SBA loans |  |  | - |  |  | 4
Corporate bonds and redeemable preferred stock |  |  | 25,851 |  |  | 31,406
Municipal bonds |  |  | 20 |  |  | 20
Derivatives |  |  | 1,181 |  |  | -
Equity securities |  |  | 82 |  |  | -
Trading securities sold, not yet purchased |  | $ | 39,184 |  | $ | 48,740
The Company tries to manage its exposure to changes in interest rates for the interest rate sensitive securities it holds by entering into offsetting short positions for similar fixed rate securities. The Company included the change in unrealized gains (losses) in the amount of $296 and $ (693) for years ended December 31, 2015 and 2014, respectively, in net trading revenue in the Company’s consolidated statements of operations. Other Investments, at fair value
OTHER INVESTMENTS, AT FAIR VALUE
(Dollars in Thousands)
|  | December 31, 2015
|  | Cost |  | Carrying Value |  | Unrealized Gain(Loss)
CLOs |  | $ | 14,877 |  | $ | 11,569 |  | $ | (3,308)
CDOs |  |  | 193 |  |  | 34 |  |  | (159)
Equity Securities: |  |  |  |  |  |  |  |  |
EuroDekania |  |  | 5,300 |  |  | 2,502 |  |  | (2,798)
Tiptree |  |  | 1,009 |  |  | 353 |  |  | (656)
Other securities |  |  | 176 |  |  | 43 |  |  | (133)
Total equity securities |  |  | 6,485 |  |  | 2,898 |  |  | (3,587)
Residential loans |  |  | 111 |  |  | 383 |  |  | 272
Foreign currency forward contracts |  |  | - |  |  | (4) |  |  | (4)
Other investments, at fair value |  | $ | 21,666 |  | $ | 14,880 |  | $ | (6,786)
|  | December 31, 2014
|  | Cost |  | Carrying Value |  | Unrealized Gain(Loss)
CLOs |  | $ | 23,139 |  | $ | 21,518 |  | $ | (1,621)
CDOs |  |  | 193 |  |  | 11 |  |  | (182)
Equity Securities: |  |  |  |  |  |  |  |  |
EuroDekania |  |  | 6,503 |  |  | 3,717 |  |  | (2,786)
Tiptree |  |  | 5,455 |  |  | 2,472 |  |  | (2,983)
Other securities |  |  | 176 |  |  | 33 |  |  | (143)
Total equity securities |  |  | 12,134 |  |  | 6,222 |  |  | (5,912)
Residential loans |  |  | 118 |  |  | 565 |  |  | 447
Foreign currency forward contracts |  |  | - |  |  | 83 |  |  | 83
Other investments, at fair value |  | $ | 35,584 |  | $ | 28,399 |  | $ | (7,185)

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- Definition Financial instruments. + References No definition available. + Details
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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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