Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting

Summary of the segment financial information

A summary of the segment financial information is as follows (dollars in thousands):

	U.S. Operations		Canadian Operations		European Operations		Asia Pacific Operations			Corporate			Consolidated Total
Three Months Ended March 31, 2016
Total revenues	$	66,329	$	16,096	$	31,139	$	10,757		$	347		$	124,668
Income (loss) before income tax expense (benefit) (1)(2)	2,105		3,338		5,679		(600		)	(14,160		)	(3,638		)
Identifiable assets	1,196,340		100,599		253,135		67,149			—			1,617,223
Three Months Ended March 31, 2015
Total revenues	$	80,454	$	18,913	$	36,605	$	13,522		$	233		$	149,727
Income (loss) before income tax expense (benefit)	11,056		3,756		11,129		1,107			(4,708		)	22,340
Identifiable assets	1,098,740		78,782		281,637		70,292			—			1,529,451

Notes:

(1) The Company’s Chief Executive Officer was granted cash and stock awards upon the commencement of his employment in January 2016, a significant portion of which replaced awards he forfeited at his former employer. Due to U.S. tax regulations, only a small portion of the amount that was expensed for these awards during the three months ended March 31, 2016 was eligible for a tax deduction.

(2) During the three months ended March 31, 2016, the Company established a reserve of $2.5 million in accordance with ASC 450, Contingencies, for the pending arbitration case with its former Chief Executive Officer and incurred legal fees related to this matter of $0.3 million.

Schedule of total revenues for the products and services provided by our geographic segments

The table below details the total revenues for the categories of products and services provided by the Company (dollars in thousands):

	Three months ended March 31,
	2016		2015
Revenues:
Electronic Brokerage	$	64,261	$	80,454
Research, Sales and Trading	25,532		32,513
Platforms	23,593		25,073
Analytics	10,935		11,454
Corporate	347		233
Total Revenues	$	124,668	$	149,727