Restructuring Charges

6 Months Ended

Jun. 30, 2018

(5) Restructuring Charges

2018 Restructuring

In the first quarter of 2018, the Company implemented a restructuring plan to improve margins and enhance stockholder returns through the elimination of certain positions in the U.S.

Activity and liability balances recorded as part of the restructuring plan through June 30, 2018 are as follows (dollars in thousands):


	Amount
Restructuring charges recognized	$	7,165
Cash payments (primarily severance related)		(3,328)
Acceleration of share-based compensation		(2,561)
Balance at June 30, 2018	$	1,276

The payment of the accrued costs for the 2018 restructuring is expected to continue through the first quarter of 2019.

2016 Restructuring

As part of an end-to-end review of its business in 2016, the Company 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 single stock sales 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 June 30, 2018 are as follows (dollars in thousands):


	Amount
Balance at December 31, 2017	$	6
Asset write-off		(6)
Balance at June 30, 2018	$	—