Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurements

Fair value measurements for assets and liabilities measured on a recurring basis

Fair value measurements for those items measured on a recurring basis are as follows (dollars in thousands):

March 31, 2013	Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents:
Tax free money market mutual funds	$	4,535	$	4,535	$	—	$	—
U.S. government money market mutual funds	71,213		71,213		—		—
Money market mutual funds	4,695		4,695		—		—
Securities owned, at fair value:
Corporate stocks-trading securities	6,804		6,804		—		—
Mutual funds	4,711		4,711		—		—
Total	$	91,958	$	91,958	$	—	$	—
Liabilities
Securities sold, not yet purchased, at fair value:
Corporate stocks-trading securities	6,623		6,623		—		—
Total	$	6,623	$	6,623	$	—	$	—

December 31, 2012	Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents:
Tax free money market mutual funds	$	4,555	$	4,555	$	—	$	—
U.S. government money market mutual funds	97,203		97,203		—		—
Money market mutual funds	6,231		6,231		—		—
Securities owned, at fair value:
Corporate stocks-trading securities	5,438		5,438		—		—
Mutual funds	4,648		4,648		—		—
Total	$	118,075	$	118,075	$	—	$	—
Liabilities
Securities sold, not yet purchased, at fair value:
Corporate stocks—trading securities	$	5,249	$	5,249	$	—	$	—
Total	$	5,249	$	5,249	$	—	$	—