Collateralized Transactions

9 Months Ended

Sep. 30, 2020

Brokers And Dealers [Abstract]

Collateralized Transactions

9. Collateralized Transactions

Repurchase Agreements

Securities sold under Repurchase Agreements 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 September 30, 2020, Cantor facilitated Repurchase Agreements between the Company and Cantor in the amount of $2.1 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 Agreements. These Repurchase Agreements had a maturity date of October 1, 2020. As of December 31, 2019, Cantor had not facilitated any Repurchase Agreements between the Company and Cantor.

Securities Loaned

As of September 30, 2020, the Company did not have any Securities loaned transactions with Cantor. As of December 31, 2019, the Company had Securities loaned transactions of $13.9 million with CF&Co. The fair value of the securities loaned was $13.9 million. As of December 31, 2019, the cash collateral received from Cantor bore an annual interest rate of 2.45%. These transactions had no stated maturity date.