Deferred Contract Incentive	6 Months Ended
Jun. 30, 2022
Deferred Contract Incentive
Deferred Contract Incentive	13. Deferred Contract Incentive Effective August 1, 2021, MSCO entered into an amendment to its clearing agreement with NFS that, among other things, extends the term of their arrangement for an additional four-year period commencing on August 1, 2021 and ending July 31, 2025. As part of this agreement, the Company received a one-time business development credit of $3 million from NFS which is within the line item “Deferred contract incentive” on the statements of financial condition. This credit will be recognized as contra expense over the term of the agreement in the line item “Clearing fees, including execution costs” on the statements of operations. For the three months ended June 30, 2022 and 2021, the Company recognized $213,000 and $0 in contra expense, respectively. For the six months ended June 30, 2022 and 2021, the Company recognized $425,000 and $0 in contra expense, respectively. As of June 30, 2022 and December 31, 2021, the balance of the deferred contract incentive was $2.3 million and $2.7 million, respectively.

Deferred Contract Incentive

6 Months Ended

Jun. 30, 2022

13. Deferred Contract Incentive

Effective August 1, 2021, MSCO entered into an amendment to its clearing agreement with NFS that, among other things, extends the term of their arrangement for an additional four-year period commencing on August 1, 2021 and ending July 31, 2025.

As part of this agreement, the Company received a one-time business development credit of $3 million from NFS which is within the line item “Deferred contract incentive” on the statements of financial condition. This credit will be recognized as contra expense over the term of the agreement in the line item “Clearing fees, including execution costs” on the statements of operations. For the three months ended June 30, 2022 and 2021, the Company recognized $213,000 and $0 in contra expense, respectively. For the six months ended June 30, 2022 and 2021, the Company recognized $425,000 and $0 in contra expense, respectively. As of June 30, 2022 and December 31, 2021, the balance of the deferred contract incentive was $2.3 million and $2.7 million, respectively.