Restructuring Charges

3 Months Ended

Mar. 31, 2017

(3) Restructuring Charges

2016 Restructuring

As part of an end-to-end review of its business, the Company has determined that its strategy is to increasingly focus its resources on its core capabilities in liquidity, execution, analytics and workflow technology solutions. To that end, in 2016, the Company implemented restructuring plans to (i) reduce headcount in its high-touch trading and sales organizations, (ii) close its U.S. matched-book securities lending operations and its Canadian arbitrage trading desk and (iii) identify additional annual cost savings from management delayering and the elimination of certain positions.

Activity and liability balances recorded as part of the restructuring plan through March 31, 2017 are as follows (dollars in thousands):




	Amount
Balance at December 31, 2016	$	3,157
Utilized - cash (primarily severance related)		(2,890)
Currency translation		9
Balance at March 31, 2017	$	276

The payment of the remaining accrued costs will continue through June 2017.