Restructuring Charges

3 Months Ended

Mar. 31, 2016

Restructuring Charges

Restructuring Charges

(3)      Restructuring Charges

2011 Restructuring

In the second and fourth quarters of 2011, the Company implemented restructuring plans to improve margins and enhance stockholder returns.

Activity and liability balances recorded as part of the 2011 restructuring plan through March 31, 2016 are as follows (dollars in thousands):

	Consolidation of leased facilities
Balance at December 31, 2015	$	272
Utilized—cash	(260		)
Balance at March 31, 2016	$	12

The payment of the remaining accrued costs related to the vacated leased facilities will continue through December 2016.

2010 Restructuring

In the fourth quarter of 2010, the Company closed its Westchester, NY office and relocated the staff, primarily sales traders and support, to its New York City office.

Activity and liability balances recorded as part of the 2010 restructuring plan through March 31, 2016 are as follows (dollars in thousands):

	Consolidation of leased facilities
Balance at December 31, 2015	$	982
Utilized—cash	(111		)
Balance at March 31, 2016	$	871

The payment of the remaining accrued costs related to the vacated leased facilities will continue through December 2016.