Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Measurements [Abstract]

Schedule of estimated fair values

	As of June 30, 2023
	Level 1		Level 2		Level 3		Total
Assets
Cash and securities segregated for regulatory purposes
U.S. government securities	$	172,115,000	$	—	$	—	$	172,115,000
Securities owned, at fair value
U.S. government securities	$	17,421,000	$	—	$	—	$	17,421,000
Certificates of deposit		—		92,000		—		92,000
Municipal securities		—		56,000		—		56,000
Corporate bonds		—		3,000		—		3,000
Equity securities		44,000		165,000		—		209,000
Total Securities owned, at fair value	$	17,465,000	$	316,000	$	—	$	17,781,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities	$	2,000	$	—	$	—	$	2,000
Total Securities sold, not yet purchased, at fair value	$	2,000	$	—	$	—	$	2,000

	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash and securities segregated for regulatory purposes
U.S. government securities	$	140,978,000	$	—	$	—	$	140,978,000
Securities owned, at fair value
U.S. government securities	$	2,808,000	$	—	$	—	$	2,808,000
Certificates of deposit		—		92,000		—		92,000
Municipal securities		—		52,000		—		52,000
Corporate bonds		—		7,000		—		7,000
Equity securities		63,000		182,000		—		245,000
Total Securities owned, at fair value	$	2,871,000	$	333,000	$	—	$	3,204,000
Liabilities
Securities sold, not yet purchased, at fair value
Equity securities	$	2,000	$	—	$	—	$	2,000
Total Securities sold, not yet purchased, at fair value	$	2,000	$	—	$	—	$	2,000

Schedule of U.S. government securities with the below market values and maturity dates

	As of June 30, 2023
Market value of U.S. government securities portfolio
Maturing 07/25/2023, 4.762% Discount Rate	$	19,939,000
Maturing 08/03/2023, 4.820% Discount Rate		24,890,000
Maturing 08/31/2023, 1.375% Coupon Rate		9,938,000
Maturing 09/21/2023, 4.865% Discount Rate		14,828,000
Maturing 11/16/2023, 5.270% Coupon Rate		2,941,000
Maturing 12/31/2023, 0.750% Coupon Rate		63,549,000
Maturing 01/31/2024, 0.875% Coupon Rate		24,356,000
Maturing 05/16/2024, 4.966% Coupon Rate		2,863,000
Maturing 05/16/2024, 5.019% Coupon Rate		9,544,000
Maturing 05/31/2024, 2.500% Coupon Rate		4,870,000
Maturing 05/31/2024, 2.500% Coupon Rate		4,870,000
Maturing 08/15/2024, 0.375% Coupon Rate		2,838,000
Maturing 04/30/2025, 3.875% Coupon Rate		3,922,000
Accrued interest		188,000
Total Market value of U.S. government securities portfolio	$	189,536,000

	As of December 31, 2022
Market value of U.S. government securities portfolio
Maturing 03/23/2023, 3.750% Discount Rate	$	24,768,000
Maturing 05/18/2023, 2.700% Discount Rate		9,831,000
Maturing 08/31/2023, 1.375% Coupon Rate		9,777,000
Maturing 12/31/2023, 0.750% Coupon Rate		62,497,000
Maturing 01/31/2024, 0.875% Coupon Rate		23,995,000
Maturing 05/31/2024, 2.500% Coupon Rate		9,707,000
Maturing 08/15/2024, 0.375% Coupon Rate		2,808,000
Accrued interest		404,000
Total Market value of U.S. government securities portfolio	$	143,787,000

Schedule of estimated fair values

	As of June 30, 2023		As of December 31, 2022
Equity method investment in related party	$	2,510,000	$	2,584,000