Related Parties

12 Months Ended

Dec. 31, 2012

Related Parties [Abstract]

Related Parties

8. Related Parties

On February 28, 2012, the Company completed a registered underwritten secondary public offering of 3,597,333 shares of common stock held by JPM. 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 JPM (see Note 9, “Stockholders’ Equity”). After February 28, 2012, JPM 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 JPM and its affiliates. In addition, JPM acts in a custodial and cash management capacity for the Company. The Company also maintains an account with and paid commissions to JPM 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 JPM and 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

	Year Ended December 31,
	2012		2011		2010
	(In thousands)
Commissions	$	1,480	$	7,045	$	5,541
Technology products and services		35		167		16
Information and user access fees		24		176		132
Investment income		20		90		113
Other income		11		66		63
General and administrative		7		73		27