Securities Owned and Sold, Not Yet Purchased

3 Months Ended

Mar. 31, 2015

Securities Owned and Sold, Not Yet Purchased

Securities Owned and Sold, Not Yet Purchased

(5) Securities Owned and Sold, Not Yet Purchased

	Securities Owned				Securities Sold, Not Yet Purchased
	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
Corporate stocks—trading securities	$	8,453	$	8,160	$	8,552	$	8,253
Mutual funds	3,751		3,913		—		—
Total	$	12,204	$	12,073	$	8,552	$	8,253

Trading securities owned and sold, not yet purchased primarily consists of temporary positions obtained in the normal course of agency trading activities, including positions held in connection with the creation and redemption of exchange-traded funds on behalf of clients.