Collateralized Transactions

6 Months Ended

Jun. 30, 2019

Brokers And Dealers [Abstract]

Collateralized Transactions

8. Collateralized Transactions

Repurchase Agreements

Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be repurchased, including accrued interest. As of June 30, 2019, Cantor facilitated Repurchase Agreements between the Company and Cantor in the amount of $1.1 million for the purpose of financing fails. U.S. Treasury or other fixed income securities were provided to Cantor as collateral for the fair value of the Repurchase Agreement. These Repurchase Agreements had a maturity date of July 1, 2019. As of December 31, 2018, Cantor facilitated Repurchase Agreements between the Company and Cantor in the amount of $1.0 million for the purpose of financing fails. U.S. Treasury or other fixed income securities were provided to Cantor as collateral for the fair value of the Repurchase Agreement.

Securities Loaned

As of June 30, 2019, the Company had Securities loaned transactions of $12.3 million with Cantor. The fair value of the securities loaned was $12.5 million. As of June 30, 2019, the cash collateral received from Cantor bore interest rates ranging from 2.97% to 3.25%. As of December 31, 2018, the Company had Securities loaned transactions of $15.1 million with Cantor. The fair value of the securities loaned was $15.3 million. As of December 31, 2018, the cash collateral received from Cantor bore an annual interest rate of 2.94%. These transactions have no stated maturity date.