v3.26.1
Receivables from, Payables to, and Deposits with Broker-Dealers and Clearing Organizations - Schedule of Amounts Receivable from, Payables to, and Deposits with Broker-Dealers and Clearing Organizations (Details) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Receivables from and deposits with broker-dealers and clearing organizations    
DTCC / OCC / NSCC [1] $ 20,544,000 $ 9,058,000
Goldman Sachs & Co. LLC (“GSCO”) 73,000 66,000
National Financial Services, LLC (“NFS”) 2,773,000 2,162,000
Underwriting fees receivable 660,000
FMR [2] 52,000
Securities fail-to-deliver 211,000 556,000
Globalshares 130,000 55,000
Other receivables 407,000
Total Receivables from and deposits with broker-dealers and clearing organizations 24,443,000 12,304,000
Payables to broker-dealers and clearing organizations    
Securities fail-to-receive 2,540,000 437,000
Payables to broker-dealers 4,888,000 332,000
Total Payables to broker-dealers and clearing organizations $ 7,428,000 $ 769,000
[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, 2026 and December 31, 2025, MSCO had shares of DTCC common stock valued at approximately $1.6 million and $1.4 million, respectively, which are included within the line item “Deposits with broker-dealers and clearing organizations” on the statements of financial condition. The share value is updated annually, as of February 26, 2026 and for the year ended December 31, 2025, based on the release of DTCC’s annual amended and restated shareholder agreement.
[2] In connection with its clearing arrangement with Green Pier, RISE is required to maintain a clearing deposit with the clearing broker. RISE funded an initial deposit of $50,000, which is held as collateral and may be applied against fees, losses, or other obligations arising under the agreement. The clearing broker may require RISE to post additional deposits from time to time based on RISE’s trading activity and assessed risk profile. Refer to Note 1 – Organization and Basis of Presentation for more detail.