Related Party

3 Months Ended

Mar. 31, 2012

Related Party [Abstract]

Related Party

7. Related Party

On February 28, 2012, the Company completed a registered underwritten secondary public offering of 3,597,333 shares of common stock held by the Stockholder Broker-Dealer Client. The Company did not receive any of the proceeds of the offering. In addition, the Company repurchased 1,821,730 shares of non-voting common stock held by the Stockholder Broker-Dealer Client (see Note 13, “Share Repurchases”). After February 28, 2012, the Stockholder Broker-Dealer Client no longer holds shares of common stock in the Company and is not considered a related party.

The Company generates commissions, technology products and services revenues, information and user access fees, investment income and other income and related accounts receivable balances from the Stockholder Broker-Dealer Client or its affiliates. In addition, the Stockholder Broker-Dealer Client acts in a cash management capacity for the Company. The Company also maintains an account with and paid commissions to the Stockholder Broker-Dealer Client in connection with the Company’s share repurchase program. The Company also incurs bank fees in connection with these arrangements. As of the dates and for the periods indicated below, the Company had the following balances and transactions with the Stockholder Broker-Dealer Client or its affiliates:

	As of
	December 31, 2011
	(In thousands)
Cash and cash equivalents	$	156,982
Securities and cash provided as collateral		550
Accounts receivable		2,255
Accounts payable		86

	Three Months Ended March 31,
	2012		2011
	(In thousands)
Commissions	$	1,480	$	1,719
Technology products and services		35		—
Information and user access fees		24		47
Investment income		20		25
Other income		11		17
General and administrative		7		20