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2. Securities
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
2. Securities

Securities owned are carried at fair value with realized and unrealized gains and losses reflected in trading profits. SFC clears all its security transactions through an unaffiliated clearing firm on a fully disclosed basis. Accordingly, SFC does not hold funds or securities for, or owe funds or securities to, its customers. Those functions are performed by its clearing firm.