Receivables from and Payables To Brokers, Dealers, and Clearing Organizations

12 Months Ended

Dec. 31, 2013

Receivables from and Payables To Brokers, Dealers, and Clearing Organizations

Receivables from and Payables To Brokers, Dealers, and Clearing Organizations

NOTE 6. Receivables from and Payables To Brokers, Dealers, and Clearing Organizations

        Amounts Receivable from and Payable to brokers, dealers and clearing organizations consisted of the following at December 31:

(In thousands)	2013		2012
Deposits with clearing organizations	$	7,056	$	9,566
Receivable from clearing organizations		2,117		2,001
Underwriting and syndicate fees receivable		—		1,020
Receivable for unsettled trading activities		—		237
Total receivables	$	9,173	$	12,824
Payable to clearing organizations	$	—	$	638,009
Total payables	$	—	$	638,009

        Included within deposits with clearing organizations at December 31, 2013 and December 31, 2012 was a deposit with the Fixed Income Clearing Corporation ("FICC") of approximately $6.3 million and $8.8 million, respectively, related to the Company's self clearing activities associated with the former Rates business. The deposits with clearing organizations will be returned to the Company in connection with the termination of its memberships with these organizations.

        Payable to clearing organizations at December 31, 2012 included approximately $35.5 million of excess equity (funds that are readily available to the Company) held at the Company's principal clearing broker.

        Prior to the discontinuation of the Company's Fixed Income businesses during the second quarter of 2013, securities transactions were recorded on their trade date as if they had settled. The related amounts receivable and payable for unsettled securities transactions were recorded net, by clearing organization, in Receivables from or Payables to brokers, dealers and clearing organizations in the Consolidated Statements of Financial Condition.