Securities Owned and Sold, Not Yet Purchased

9 Months Ended

Sep. 30, 2013

Securities Owned and Sold, Not Yet Purchased

Securities Owned and Sold, Not Yet Purchased

(5) Securities Owned and Sold, Not Yet Purchased

The following is a summary of securities owned and securities sold, not yet purchased (dollars in thousands):

	Securities Owned				Securities Sold, Not Yet Purchased
	September 30, 2013		December 31, 2012		September 30, 2013		December 31, 2012
Corporate stocks—trading securities	$	7,717	$	5,438	$	7,490	$	5,249
Mutual funds	4,480		4,648		—		—
Total	$	12,197	$	10,086	$	7,490	$	5,249

Securities owned and sold, not yet purchased primarily consists of temporary positions obtained in the normal course of agency trading activities, including positions held in connection with the creation and redemption of exchange-traded funds on behalf of clients.