Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Major Revenue Categories

The following table presents the Company’s major revenue categories and when each category is recognized:

	Three Months Ended June 30,				Six Months Ended June 30,
Revenue Category	2020		2019		2020		2019		Timing of Recognition
Trading Execution and Clearing Services
Commissions and fees	$	4,887,000	$	2,591,000	$	10,470,000	$	4,859,000	Recorded on trade date
Principal transactions		2,581,000		1,921,000		5,784,000		3,811,000	Recorded on trade date
Market making		615,000		410,000		1,085,000		973,000	Recorded on trade date
Stock borrow / stock loan		771,000		423,000		1,215,000		1,004,000	Recorded as earned
Advisory fees		243,000		193,000		505,000		361,000	Recorded as earned
Total Trading Execution and Clearing Services		9,097,000		5,538,000		19,059,000		11,008,000
Other Income
Margin interest, marketing and distribution fees
Margin interest		1,829,000		2,870,000		4,335,000		5,687,000	Recorded as earned
12b1 fees		296,000		823,000		1,084,000		1,562,000	Recorded as earned
Total Margin interest, marketing and distribution fees		2,125,000		3,693,000		5,419,000		7,249,000
Interest income		909,000		1,186,000		2,240,000		2,359,000	Recorded as earned
Other income		488,000		264,000		702,000		343,000	Recorded as earned
Total Other Income		3,522,000		5,143,000		8,361,000		9,951,000
Total Revenue	$	12,619,000	$	10,681,000	$	27,420,000	$	20,959,000

Schedule of Performance Obligation

The following table presents each revenue category and its related performance obligation:

Revenue Stream	Performance Obligation
Commissions and fees, Principal transactions, Market making, Stock borrow / stock loan, Advisory fees	Provide financial services to customers and counterparties
Margin interest, marketing and distribution fees, Interest income, Other income		n /a