Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of balances from transactions with affiliates included in the consolidated statements

At September 30, 2019 and December 31, 2018, the following balances with such affiliates were included in the consolidated statements of financial condition in the following line items (in thousands):


	Successor		Successor
	September 30, 2019		December 31, 2018
Cash and cash equivalents	$	—	$	283,790
Receivables from brokers and dealers and clearing organizations		—		3,332
Deposits with clearing organizations		—		500
Accounts receivable		—		40,730
Receivable from affiliates		3,515		3,243
Other assets		—		9
Payable to brokers and dealers and clearing organizations		—		2,404
Deferred revenue		3,983		9,151
Payable to affiliates		3,737		5,009

Schedule of affiliates were included in the consolidated statements of income

The following balances with such affiliates were included in the consolidated statements of income in the following line items (in thousands):


	Successor				Predecessor
	Three Months		Nine Months		Three Months		Nine Months
	Ended		Ended		Ended		Ended
	September 30, 2019		September 30, 2019		September 30, 2018		September 30, 2018
Revenue:
Transaction fees (1)	$	—	$	59,643	$	52,796	$	159,663
Subscription fees (1)		—		5,670		5,446		16,627
Commissions (1)		—		16,186		11,808		34,944
Refinitiv market data fees (2)		13,251		40,252		12,533		36,851
Operating Income:(3)
Interest income		—		858		6		34

Expenses
Shared Services Fees (4) :
Technology and communications		740		2,220		740		2,220
General and administrative		24		406		180		539
Occupancy		123		434		155		466

(1)

For pre-IPO periods, represents fees and commissions from affiliates of the Bank Stockholders.

(2)

The Company maintains a market data license agreement with Refinitiv (TR in the predecessor period). Under the agreement, the Company delivers to Refinitiv certain market data feeds which Refinitiv redistributes to its customers. The Company earns license fees and royalties for these feeds.

(3)

For pre-IPO periods, represents interest income from money market funds invested with and savings accounts deposited with affiliates of the Bank Stockholders.

(4)

The Company maintains a shared services agreement with Refinitiv (TR in the predecessor period). Under the terms of the agreement, Refinitiv provides the Company with certain real estate, payroll, benefits administration, insurance, content, financial reporting and tax support.