Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies.

Commitments and Contingencies

(22) Commitments and Contingencies

• Legal Matters

        The Company is periodically involved in litigation and various legal matters that arise in the normal course of business, including proceedings relating to regulatory matters. Such matters are subject to many uncertainties and outcomes that are not predictable. At the current time, the Company does not believe that any of these matters will have a material adverse effect on its financial position or future results of operations.

• Lease Commitments

        The Company has entered into lease and sublease agreements with third parties for certain offices and equipment, which expire at various dates through 2021. Rent expense for each of the years ended December 31, 2012, 2011 and 2010 was $13.2, $12.9 million and $14.0 million, respectively, and is recorded in occupancy and equipment expense in the Consolidated Statements of Operations. The Company recognizes rent expense for escalation clauses, rent holidays, leasehold improvement incentives and other concessions using the straight-line method over the minimum lease term. Minimum future rental commitments under non-cancelable operating leases follow (dollars in thousands):

Year Ending December 31,
2013	$	15,139
2014		14,036
2015		13,046
2016		12,228
2017		8,628
2018 and thereafter		74,646
Total	$	137,723

• Other Commitments

        Pursuant to employment arrangements, in the event of termination of employment without cause on December 31, 2012, the Company would be obligated to pay separation payments totaling $5.8 million.

        Pursuant to contracts expiring through 2017, the Company is obligated to purchase market data, maintenance and other services totaling $53.0 million.