v3.25.2
Receivables from, Payables to, and Deposits with Broker-Dealers and Clearing Organizations
 6 Months Ended
Jun. 30, 2025
Receivables from, Payables to, and Deposits with Broker-Dealers and Clearing Organizations [Abstract]  
Receivables from, Payables to, and Deposits with Broker-Dealers and Clearing Organizations

4. Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations

 

Amounts receivable from, payables to, and deposits with broker-dealers and clearing organizations consisted of the following as of the periods indicated:

 

  

As of

June 30,
2025

  

As of

December 31, 2024

 
Receivables from and deposits with broker-dealers and clearing organizations        
DTCC / OCC / NSCC (1)  $9,725,000   $5,777,000 
Goldman Sachs & Co. LLC ("GSCO")   57,000    50,000 
National Financial Services, LLC (“NFS”)   2,391,000    2,102,000 
Underwriting fees receivable   206,000    
—
 
Securities fail-to-deliver   45,000    90,000 
Globalshares   53,000    68,000 
Other receivables   
—
    60,000 
Total Receivables from and deposits with broker-dealers and clearing organizations  $12,477,000   $8,147,000 
           
Payables to broker-dealers and clearing organizations          
Securities fail-to-receive  $825,000   $439,000 
Payables to broker-dealers   354,000    5,000 
Total Payables to broker-dealers and clearing organizations  $1,179,000   $444,000 

 

(1)Depository Trust & Clearing Corporation is referred to as (“DTCC”), Options Clearing Corporation is referred to as (“OCC”), and National Securities Clearing Corporation is referred to as (“NSCC”).

 

Under the DTCC shareholders’ agreement, MSCO is required to participate in the DTCC common stock mandatory purchase. As of June 30, 2025 and December 31, 2024, MSCO had shares of DTCC common stock valued at approximately $1.4M and $1.1M, respectively, which are included within the line item “Deposits with broker-dealers and clearing organizations” on the statements of financial condition.

 

In September 2022, MSCO and RISE entered into a clearing agreement whereby RISE would introduce clients to MSCO. Refer to Note 21 – Related Party Disclosures for more detail.