Marketable Securities

9 Months Ended

Sep. 30, 2013

Investments All Other Investments [Abstract]

8.	Marketable Securities

Marketable securities consist of the Company’s ownership of various investments. The investments had a fair value of $36.9 million as of September 30, 2013, of which $5.0 million relates to securities classified as available-for-sale and accordingly recorded at fair value. Unrealized gains or losses on marketable securities classified as available-for-sale are included as part of “Accumulated other comprehensive loss” in the Company’s unaudited condensed consolidated statements of financial condition.

Marketable securities also includes $31.9 million of NASDAQ OMX common stock to be received in connection with the earn-out portion of the NASDAQ OMX Transaction consideration (see Note 1—“Organization and Basis of Presentation”). These shares of NASDAQ OMX common stock are classified as trading securities and accordingly measured at fair value, with any changes in fair value recognized currently in earnings.

The Company had no marketable securities as of December 31, 2012.