Capitalized Software

12 Months Ended

Dec. 31, 2011

Capitalized Software

Capitalized Software

(12) Capitalized Software

        The following is a summary of capitalized software costs at December 31 (dollars in thousands):

	2011		2010
Capitalized software costs	$	132,544	$	135,827
Less: accumulated amortization		81,286		77,903
Total	$	51,258	$	57,924

        Software costs totaling $29.1 million and $33.9 million were capitalized in 2011 and 2010, respectively, related to the continued development of new features and functionalities across the entire ITG product line. The development includes the new Triton Black product, which was released during the third quarter of 2011, enhancements to the algorithmic trading suite, and the addition of new liquidity sources to the POSIT Marketplace. The Company continued to develop new features for pre and post trade product offerings as well as other products and tools that are designed to enhance and improve the customers' trading capabilities. ITG is also continuing to capitalize software related to its efforts to globalize product lines to serve international markets. Additionally, the Company continued to invest in its internal infrastructure. During 2011, capitalized software costs and related accumulated amortization were each reduced by $32.2 million for fully amortized costs that are no longer in use. In 2010, $6.1 million of capitalized software that was not yet deployed was written off to other general and administrative expense due to changes in product priorities.

        Capitalized software costs of $1.3 million and $6.5 million were not subject to amortization as of December 31, 2011 and 2010, respectively, as the underlying products were not yet available for release. Other general and administrative expenses in the Consolidated Statements of Operations included $35.7 million, $38.2 million and $34.5 million related to the amortization of capitalized software costs in 2011, 2010 and 2009, respectively.