XML 35 R21.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Investments, Cost
12 Months Ended
Dec. 31, 2023
Investments, Cost [Abstract]  
Investments, Cost

13. Investments, Cost

 

As of both December 31, 2023 and 2022, the Company maintained a 2% ownership interest in the Trading Technology Provider.

 

In June 2023, in view of the Trading Technology Provider’s business performance and near-term business outlook that were below the Company’s previous expectations, as well as observed market transactions of the Trading Technology Provider’s equity that were below the carrying value of the Company’s investment of the Trading Technology Provider, the Company determined that an other than temporary impairment existed. For the year ended December 31, 2023, the Company recognized an impairment charge for its investment in the Trading Technology Provider of $850,000, which is included in “Impairment of investments” on the consolidated statements of operations. As of December 31 2023 and 2022, this ownership interest in the Trading Technology Provider was $0 and $850,000, respectively, which is in the line item “Investments, cost” on the consolidated statements of financial condition.