Capitalized Software

12 Months Ended

Dec. 31, 2012

Capitalized Software

Capitalized Software

(12) Capitalized Software

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

	2012		2011
Capitalized software costs	$	94,177	$	132,544
Less: accumulated amortization		50,183		81,286
Total	$	43,994	$	51,258

        Software costs totaling $24.6 million and $29.1 million were capitalized in 2012 and 2011, respectively, related to the continued development of new features and functionalities across the entire ITG product line. The development includes performance optimizations and usability enhancements for the Triton Black product and Algorithmic Trading Suite as well as efforts to globalize certain product lines such as POSIT Marketplace. The Company continued to develop new features for pre- and post-trade product offerings as well as build enhancements for its global market data system. The Company also continues to invest in its internal infrastructure. During 2012, capitalized software costs and related accumulated amortization were each reduced by $64.7 million for fully amortized costs that are no longer in use.

        As of December 31, 2012, there were no capitalized software costs not subject to amortization because all underlying products were available for release. As of December 31, 2011, $1.3 million of capitalized software costs were not subject to amortization as the underlying products were not yet available for release. Other general and administrative expenses in the Consolidated Statements of Operations included $32.1 million, $35.7 million and $38.2 million related to the amortization of capitalized software costs in 2012, 2011 and 2010, respectively.