CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, except Share data in Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net loss	$ (17,971)	$ (4,684)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of stock-based compensation	1,107	4,497
Impairment of intangible assets - ClearPoint	587
Depreciation of fixed assets and amortization of leasehold improvements	439	487
Clawback of stock-based compensation awards subject to non-competition provisions	(361)
Investment losses/(gains), net	(172)	(132)
Amortization of intangible assets	165	124
Deferred income taxes		3,697
Changes in operating assets and liabilities:
Cash and securities segregated for regulatory and other purposes	7,000	7,612
Securities purchased under agreements to resell	(20,816)	(1,461,657)
Net receivable from others	2,918	1,327
Financial instruments owned, at fair value	617,894	97,387
Loans held for sale, ClearPoint, at fair value	(7,693)
Income taxes receivable/payable, net	3,087	2,725
Other assets	(1,003)
Net payable to brokers, dealers and clearing organizations	(229,409)	(85,694)
Securities sold under agreements to repurchase	(159,386)	1,501,525
Securities sold, but not yet purchased, at fair value	(111,017)	48,503
Accounts payable and accrued expenses	(3,282)	(4,964)
Accrued compensation	(24,631)	(15,835)
Drafts payable	935	269
Net cash provided by operating activities	58,391	95,187
Cash flows from investing activities:
Purchase of investments	(947)
ClearPoint sale - net payment to Homeward Residential, Inc. (Refer to Note 1)	(510)
Purchases of office equipment and leasehold improvements	(7)	(360)
Net cash used in investing activities	(1,464)	(360)
Cash flows from financing activities:
Proceeds from secured borrowings	185,381	583,000
Repayments of secured borrowings	(246,017)	(679,416)
Payment for employee tax withholdings on stock-based compensation	(747)	(2,403)
Excess tax benefits related to stock-based compensation		8
Net cash used in financing activities	(61,383)	(98,811)
Decrease in cash and cash equivalents	(4,456)	(3,984)
Cash and cash equivalents at beginning of the period	44,868	36,672
Cash and cash equivalents at the end of the period	$ 40,412	$ 32,688
NON CASH INVESTING AND FINANCING ACTIVITIES
Treasury stock, net of forfeitures, for stock-based compensation exercises and vesting (in shares)	0	6.9