Securities Owned

9 Months Ended

Sep. 30, 2019

Investments Debt And Equity Securities [Abstract]

Securities Owned

7. Securities Owned

Securities owned primarily consist of unencumbered U.S. Treasury bills held for liquidity purposes. Total securities owned were $60.4 million as of September 30, 2019 and $58.4 million as of December 31, 2018. For additional information, see Note 12—“Fair Value of Financial Assets and Liabilities.”