Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value

The following tables present the Company's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of the periods presented.

	As of March 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash and securities segregated for regulatory purposes
U.S. government securities*	$	97,655,000	$	—	$	—	$	97,655,000
Securities owned, at fair value
U.S. government securities**	$	2,860,000	$	172,000	$	—	$	3,032,000
Certificates of deposit		—		91,000		—		91,000
Municipal securities		—		10,000		—		10,000
Corporate bonds		—		11,000		—		11,000
Options		1,000		—		—		1,000
Equity securities		116,000		139,000		—		255,000
Total Securities owned, at fair value	$	2,977,000	$	423,000	$	—	$	3,400,000
Other equity investment in related party, at fair value	$	—	$	—	$	1,036,000	$	1,036,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities	$	—	$	27,000	$	—	$	27,000
UITs		—		25,000		—		25,000
Total Securities sold, not yet purchased, at fair value	$	—	$	52,000	$	—	$	52,000

	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Securities owned, at fair value
U.S. government securities**	$	2,966,000	$	—	$	—	$	2,966,000
Certificates of deposit		—		91,000		—		91,000
Corporate bonds		—		12,000		—		12,000
Equity securities		489,000		433,000		—		922,000
Total Securities owned, at fair value	$	3,455,000	$	536,000	$	—	$	3,991,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities	$	—	$	24,000	$	—	$	24,000
Total Securities sold, not yet purchased, at fair value	$	—	$	24,000	$	—	$	24,000

*As of March 31, 2022, the Company had U.S. government securities with market values of approximately $9.9 million, $63.4 million, and $24.4 million and corresponding maturity dates of August 31, 2023, December 31, 2023 and January 31, 2024, respectively. As of December 31, 2021, the Company did not have any U.S. government securities classified as cash and securities segregated for regulatory purposes.

**As of both March 31, 2022 and December 31, 2021, the U.S. government securities had a maturity date of August 15, 2024.

Schedule of Changes in Level 3 Investments

The table below summarizes the total carrying value of Level 3 equity assets and changes made during the periods presented.

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Changes in Level 3 Investments

		Three Months Ended March 31, 2022
		Amount
Balance – January 1, 2022	$	—
Purchases		1,000,000
Unrealized gain		36,000
Balance – March 31, 2022	$	1,036,000