Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
Revenue Category	2021		2020		Timing of Recognition
Trading Execution and Clearing Services
Commissions and fees	$	7,008,000	$	5,583,000	Recorded on trade date
Principal transactions		4,248,000		3,203,000	Recorded on trade date
Market making		1,614,000		470,000	Recorded on trade date
Stock borrow / stock loan		1,847,000		444,000	Recorded as earned
Advisory fees		356,000		262,000	Recorded as earned
Total Trading Execution and Clearing Services		15,073,000		9,962,000
Other Income
Interest, marketing and distribution fees
Interest		1,154,000		1,331,000	Recorded as earned
Margin interest		2,152,000		2,506,000	Recorded as earned
12b-1 fees		153,000		788,000	Recorded as earned
Total Interest, marketing and distribution fees		3,459,000		4,625,000
Other income		392,000		214,000	Recorded as earned
Total Revenue	$	18,924,000	$	14,801,000

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
Interest, marketing and distribution fees, Other income	n / a