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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (4,801) $ (17,971)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Investment gains, net (587) (172)
Amortization of stock-based compensation 69 1,107
Depreciation of fixed assets and amortization of leasehold improvements 13 439
Impairment of intangible assets   587
Clawback of stock-based compensation subject to non-competition provisions   (361)
Amortization of intangible assets   165
Changes in operating assets and liabilities:    
Cash and securities segregated for regulatory and other purposes 1,000 7,000
Receivables from brokers, dealers and clearing organizations, net 6,587 (229,409)
Income taxes receivable, net 3,739 3,087
Securities purchased under agreements to resell   (20,816)
Receivable/payable from/to others, net (307) 2,918
Receivable/payable from/to related parties, net (17)  
Financial instruments owned, at fair value (19) 610,201
Other assets 334 (1,003)
Securities sold under agreements to repurchase   (159,386)
Securities sold, but not yet purchased, at fair value   (111,017)
Restructuring reserve (468) 271
Accounts payable and accrued expenses 852 (3,553)
Accrued compensation 25 (24,631)
Drafts payable (135) 935
Net cash provided by operating activities 6,285 58,391
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)
Net cash used in investing activities   (1,464)
Cash flows from financing activities:    
Proceeds from secured borrowings   185,381
Repayments of secured borrowings   (246,017)
Payment for employee tax withholdings on stock-based compensation (172) (747)
Net cash used in financing activities (172) (61,383)
Increase/(decrease) in cash and cash equivalents 6,113 (4,456)
Cash and cash equivalents at beginning of the period 51,353 44,868
Cash and cash equivalents at the end of the period $ 57,466 $ 40,412
NON CASH INVESTING AND FINANCING ACTIVITIES    
Treasury stock, net of forfeitures, related to vesting of stock-based compensation (in shares) 12,985  
Forfeitures exceeded shares issued (in shares)   49,262