Subsequent Events Subsequent Events (Notes) - USD ($)
$ in Millions

9 Months Ended

Apr. 01, 2019

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 19 – Subsequent Events

On July 3, 2019, the Company executed a stock purchase agreement (“SPA”) to acquire 100% of the trading firm Fillmore Advisors, LLC (“FAC”).

FAC is an independent, SEC-registered broker-dealer firm and FINRA member firm and a leading provider of outsourced trading solutions and operational consulting to institutional asset managers. The firm, headquartered in Park City, Utah, is composed of traders that specialize in global buy-side and sell-side experience. Institutional clients will benefit from FAC’s comprehensive product coverage offering for equities, equity-linked, foreign exchange, credit, rates, and commodities. FAC will become an extension of the newly established prime brokerage division of the Company’s Securities reportable segment.

The transaction, which is subject to regulatory approval, is effective on closing. Regulatory approval is expected within the Company’s 4th fiscal quarter with the closing occurring on the 1st day of the month following the receipt of regulatory approval.

The consideration due to the seller is equal to a base amount of cash consideration equal to $1.4 million and potential earn out payments over the eight quarters following the closing date. The contingent earn-out payments are variable in nature and equal to 50% of Segment Income, as defined in the SPA, for each quarterly period. The consideration due to the sellers is not material to the Company.

Business Combination, Consideration Transferred

$ 1.4