Gleacher & Company (GLCH) 10-Q 8 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 07, 2013
Document and Entity Information	'	'
Entity Registrant Name	'GLEACHER & COMPANY, INC.	'
Entity Central Index Key	'0000782842	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	6,196,666
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue:	'	'	'	'
Investment gains/(losses), net	$92	$163	($338)	$156
Fees and other	163	222	495	710
Total revenue	255	385	157	866
Expenses:	'	'	'	'
Compensation and benefits	2,876	2,968	7,516	9,149
Professional fees	3,923	3,196	9,521	8,543
Communications and data processing	280	480	974	1,525
Occupancy, depreciation and amortization	344	481	1,109	1,255
Other	4,176	928	5,376	2,485
Total expenses	11,599	8,053	24,496	22,957
Loss from continuing operations before income taxes and discontinued operations	-11,344	-7,668	-24,339	-22,091
Income tax expense/(benefit)	74	-2,223	228	22,747
Loss from continuing operations	-11,418	-5,445	-24,567	-44,838
(Loss)/income from discontinued operations, net of taxes (Refer to Note 21)	-5,728	2,677	-72,044	-21,587
Net loss	($17,146)	($2,768)	($96,611)	($66,425)
Basic (loss)/income per share	'	'	'	'
Continuing operations (in dollars per share)	($1.85)	($0.92)	($4.03)	($7.54)
Discontinued operations (in dollars per share)	($0.92)	$0.45	($11.81)	($3.63)
Net loss per share (in dollars per share)	($2.77)	($0.47)	($15.84)	($11.17)
Diluted (loss)/income per share	'	'	'	'
Continuing operations (in dollars per share)	($1.85)	($0.92)	($4.03)	($7.54)
Discontinued operations (in dollars per share)	($0.92)	$0.45	($11.81)	($3.63)
Net loss per share (in dollars per share)	($2.77)	($0.47)	($15.84)	($11.17)
Weighted average shares of common stock:	'	'	'	'
Basic (in shares)	6,187	5,935	6,098	5,948
Diluted (in shares)	6,187	5,935	6,098	5,948

CONSOLIDATED_STATEMENTS_OF_FIN

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$63,375	$44,868
Cash and securities segregated for regulatory and other purposes	6,000	13,000
Receivables from:	'	'
Brokers, dealers and clearing organizations	9,187	12,824
Related parties	1,546	1,474
Others	1,049	12,563
Financial instruments owned, at fair value (includes financial instruments pledged of $0 and $1,095,431 at September 30, 2013 and December 31, 2012, respectively)	883	1,096,181
Investments	17,884	20,478
Office equipment and leasehold improvements, net	186	5,311
Goodwill	'	1,212
Intangible assets	'	5,303
Income taxes receivable	4,387	7,394
Other assets	4,461	9,030
Total Assets	108,958	1,229,638
Payables to:	'	'
Brokers, dealers and clearing organizations	'	638,009
Related parties	1,025	2,944
Others	2,733	2,251
Securities sold under agreements to repurchase	0	159,386
Securities sold, but not yet purchased, at fair value	'	132,730
Secured borrowings, ClearPoint	'	64,908
Accrued compensation	3,003	34,199
Restructuring reserve (Refer to Note 20)	4,953	'
Accounts payable and accrued expenses	5,766	9,866
Income taxes payable	3,970	3,755
Subordinated debt	409	595
Total Liabilities	21,859	1,048,643
Commitments and Contingencies (Refer to Note 15)	'	'
Stockholders' Equity	'	'
Common stock; $.01 par value; authorized 10,000,000 shares, issued 6,688,387 and 6,688,387 shares; and outstanding 6,196,143 and 6,221,959 shares, at September 30, 2013 and December 31, 2012, respectively	1,337	1,337
Additional paid-in capital	456,003	453,938
Deferred compensation	101	124
Accumulated deficit	-360,188	-263,577
Treasury stock, at cost (492,244 shares and 466,428 shares, at September 30, 2013 and December 31, 2012, respectively)	-10,154	-10,827
Total Stockholders' Equity	87,099	180,995
Total Liabilities and Stockholders' Equity	$108,958	$1,229,638

CONSOLIDATED_STATEMENTS_OF_FIN1

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION	'	'
Financial instruments owned, at fair value, financial instruments pledged (in dollars)	$0	$1,095,431
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized shares	10,000,000	10,000,000
Common stock, issued shares	6,688,387	6,688,387
Common stock, outstanding shares	6,196,143	6,221,959
Treasury stock, shares	492,244	466,428

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net loss	($96,611)	($66,425)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Amortization of stock-based compensation	5,883	4,538
Impairment of fixed assets - restructuring	4,006	'
Impairment of goodwill and intangible assets	3,969	21,096
Depreciation of fixed assets and amortization of leasehold improvements	683	1,455
Clawback of stock-based compensation awards subject to non-competition provisions	-556	-2,497
Investment (gains)/losses, net	338	-156
Amortization of intangible assets	196	371
Deferred income taxes	'	24,630
Changes in operating assets and liabilities:	'	'
Cash and securities segregated for regulatory and other purposes	7,000	5,612
Securities purchased under agreements to resell	'	1,390,619
Net receivable/payable from/to brokers, dealers and clearing organizations	-634,372	-383,724
Net receivable/payable from/to related parties	385	-4,397
Net receivable from others	11,996	5,693
Financial instruments owned, at fair value	1,096,243	453,929
Income taxes receivable/payable, net	3,222	6,734
Other assets	4,554	749
Securities sold under agreements to repurchase	-159,386	-1,374,519
Securities sold, but not yet purchased, at fair value	-132,730	77,278
Restructuring reserve (gross payments of $35.5 million; Refer to Note 20)	4,953	'
Accounts payable and accrued expenses	-5,158	-3,530
Accrued compensation	-31,196	-9,071
Drafts payable	1,058	318
Net cash provided by operating activities	84,477	148,703
Cash flows from investing activities:	'	'
Return of capital - Investments	3,202	'
Purchase of investments	-947	-800
ClearPoint sale - net payment to Homeward Residential, Inc.	-510	'
Purchases of office equipment and leasehold improvements	-11	-447
Payment to former stockholders of Gleacher Partners, Inc. (Refer to Note 23)	'	-4,373
Net cash provided by/(used in) investing activities	1,734	-5,620
Cash flows from financing activities:	'	'
Proceeds from secured borrowings	185,381	1,170,547
Repayments of secured borrowings	-250,289	-1,317,583
Purchases of treasury stock	'	-1,151
Payment for employee tax withholdings on stock-based compensation	-2,610	-2,888
Repayment of subordinated debt	-186	-206
Excess tax benefits related to stock-based compensation	'	8
Net cash used in financing activities	-67,704	-151,273
Increase/(decrease) in cash and cash equivalents	18,507	-8,190
Cash and cash equivalents at beginning of the period	44,868	36,672
Cash and cash equivalents at the end of the period	$63,375	$28,482
NON CASH INVESTING AND FINANCING ACTIVITIES	'	'
Treasury stock, net of forfeitures, for stock-based compensation exercises and vesting (in shares)	55,000	290,000

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
CONSOLIDATED STATEMENTS OF CASH FLOWS	'
Gross payment of restructuring reserve	$35.50

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Basis of Presentation	'
Basis of Presentation	'
	1.                            Basis of Presentation
	Organization and Nature of Business
	Gleacher & Company, Inc. (the “Parent” and together with its subsidiaries, the “Company”) is incorporated under the laws of the State of Delaware.  The Company’s common stock is traded on The NASDAQ Global Market (“NASDAQ”) under the symbol “GLCH.”
	As a result of the factors described below, the Company has no meaningful revenue-producing operations.  Historically, the Company has operated an investment banking business, predominately fixed-income sales and trading and financial advisory services, through three principal business units:  Investment Banking, MBS & Rates and Credit Products.  The Company also engaged in residential mortgage lending operations through ClearPoint Funding, Inc. (“ClearPoint”) until this business was discontinued, and the business sold to Homeward Residential, Inc. (“Homeward”), in February 2013 (the “Homeward Transaction”).
	The Company has disclosed, in previous filings with the U.S. Securities and Exchange Commission (the “SEC”), various uncertainties that had adversely impacted counterparty relationships, employee turnover and operating results.  Those factors impacted the overall stability of the Company’s platform.  During the second quarter of 2013, the Company’s Board of Directors approved plans to discontinue operations in its MBS & Rates (including RangeMark Financial Services (“RangeMark”)) and Credit Products divisions (together, “Fixed Income” or the “Fixed Income businesses”) as well as, later in the quarter, its Investment Banking division.  Exiting these businesses impacted approximately 150 employees.  As of November 7, 2013, the Company had approximately 20 employees.  Refer to Notes 20 and 21 herein for additional information.
	The Company is evaluating several strategic alternatives in order to preserve and maximize stockholder value.  These include:
	·                  pursuing a strategic transaction with a third party, such as a merger or sale of the Company;
	·                  reinvesting the Company’s liquid assets in favorable opportunities; and
	·                  winding down the Company’s remaining operations and distributing its net assets, after making appropriate reserves, to its stockholders.
	The Company does not believe that discontinuing the businesses referenced above will have a significant near-term impact on its liquidity.  The Company’s liquidity needs will depend to a large extent on decisions it makes regarding the alternatives described above and its future business operations, generally.  The Company’s available liquidity, which consists primarily of cash, is currently anticipated to be sufficient to meet its ongoing financial obligations for a reasonable period of time.
	Policies and Presentation
	The accounting and financial reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”).  The consolidated financial statements prepared in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities.  Actual results could be different from these estimates.  In the opinion of management, all normal, recurring adjustments necessary for a fair statement of this interim financial information are contained in the accompanying consolidated financial statements.  The results for any interim period are not necessarily indicative of those for the full year.
	The accompanying consolidated financial statements are presented in accordance with the SEC requirements for Quarterly Reports on Form 10-Q and are unaudited.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted.  Reference should be made to the Company’s audited consolidated financial statements and notes within the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for additional information, including a summary of the Company’s significant accounting policies.
	Reclassifications
	Certain amounts in prior periods have been reclassified to conform to the current year presentation with no impact to previously reported net loss or stockholders’ equity.  This includes the prior period results of the Investment Banking, MBS & Rates and Credit Products divisions, which are now being reported as discontinued operations, as well as the results of ClearPoint, which was discontinued in the first quarter of 2013.  Refer to Notes 20 and 21 herein for additional information.  Certain items which have previously been reported within the Company’s Other segment have been reclassified as discontinued operations, as follows:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Items reclassified as discontinued operations
	Revenue
	Net interest income	$	2		$	799		$	572		$	4,381
	Expenses
	Compensation expense	347			1,985			2,733			6,220
	Professional fees	7			263			190			1,422
	Occupancy expense	23			501			1,451			1,143
	Goodwill and intangible asset impairment	—			—			—		-1	21,096
	Communications and data processing	17			169			355			527
	Other	96			209			374			668
	Total expenses:	490			3,127			5,103			31,076
	Net items reclassified to discontinued operations	$	(488	)	$	(2,328	)	$	(4,531	)	$	(26,695	)
	(1) Impairment of intangible assets of $3.9 million for the nine months ended September 30, 2013, recognized in connection with the Company’s exits from Investment Banking, Fixed Income and ClearPoint is recorded as restructuring expense and included within discontinued operations (Note 20 and Note 21).
	Reverse Stock Split
	On May 30, 2013, the Company implemented a reverse stock split of its shares of common stock at a ratio of 1-for-20.  As a consequence of the reverse stock split, every 20 shares of the Company’s outstanding common stock were combined into one share, without any change to the par value per share.  All share and share-related information herein has been adjusted, to the extent necessary, to reflect this reverse stock split.
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”).  Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists.  The objective of ASU 2013-11 is to eliminate diversity in practice.  ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward except as follows.  To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes would result from the disallowance of tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets.  This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013.  The Company does not expect the adoption of ASU 2013-11 to have a material impact on the Company’s consolidated financial statements.
	In April 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-07 “Presentation of Financial Statements (Topic 205)” (“ASU 2013-07”).  The objective of ASU 2013-07 is to clarify when an entity should apply the liquidation basis of accounting.  In addition, the guidance provides principles for recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation basis of accounting.  ASU 2013-07 requires an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent.  Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy).  ASU 2013-07 requires financial statements prepared using the liquidation basis of accounting to present relevant information about the entity’s expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation.  The entity should include in its presentation of assets any items it had not previously recognized under GAAP but that it expects to either sell in liquidation or use in settling liabilities.  An entity should recognize and measure its liabilities in accordance with GAAP that otherwise applies to those liabilities.  The entity should not anticipate that it will be legally released from being the primary obligor under those liabilities, either judicially or by creditor(s).  The entity is also required to accrue and separately present the costs that it expects to incur and the income it expects to earn during the expected duration of the liquidation, including any costs associated with sale or settlement of those assets and liabilities.  ASU 2013-07 also requires disclosure about an entity’s plan for liquidation, the methods and significant assumptions used to measure assets and liabilities, the type and amount of costs and income accrued, and the expected during of the liquidation process.  This guidance is effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein.  Entities should apply the requirements prospectively from the day that liquidation becomes imminent.  Early adoption is permitted.  The adoption of ASU 2013-07 did not affect the Company’s financial statements, as liquidation is not imminent.  Refer to “Organization and Nature of Business” above, for additional information.
	In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02 “Other Comprehensive Income — Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”).  The objective of ASU 2013-02 is to improve the reporting of reclassifications out of accumulated other comprehensive income.  This ASU seeks to attain that objective by requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income.  For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts.  This guidance is effective prospectively for reporting periods beginning after December 15, 2012.  ASU 2013-02 is not applicable to the Company as it has no items reported as other comprehensive income.
	In January 2013, the FASB issued ASU No. 2013-01 “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”).  The main objective of ASU 2013-01 is to address implementation issues about the scope of ASU No. 2011-11 “Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”), which requires new disclosures about balance sheet offsetting and related arrangements.  For derivative financial assets and liabilities, the amendments require disclosure of gross asset and liability amounts, amounts offset on the balance sheet, and amounts subject to offsetting requirements but not offset in the balance sheet.  ASU 2013-01 clarifies that the scope of ASU 2011-11 applies to derivatives, including embedded bifurcated derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset in accordance with applicable accounting literature or subject to an enforceable master netting arrangement or similar agreement.  This guidance is effective for annual reporting periods beginning on or after January 1, 2013 and is to be applied retrospectively.  This guidance does not amend the existing guidance on when it is appropriate to offset, and since these amended principles require only additional disclosures, the adoption of ASU 2011-11 did not affect the Company’s financial condition, results of operations or cash flows.

LossEarnings_Per_Common_Share

(Loss)/Earnings Per Common Share	9 Months Ended
	Sep. 30, 2013
(Loss)/Earnings Per Common Share	'
(Loss)/Earnings Per Common Share	'
	2.                            (Loss)/Earnings Per Common Share
	The Company calculates basic and diluted (loss)/earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic (loss)/earnings per share is computed based upon weighted-average shares outstanding during the period.  Dilutive (loss)/earnings per share is computed consistently with the basic computation while giving effect to all dilutive potential common shares and common share equivalents that were outstanding during the period. The Company uses the treasury stock method to reflect the potential dilutive effect of unvested stock awards and unexercised options.  The weighted-average shares outstanding were calculated as follows:
		Three Months Ended		Nine Months Ended
		September 30,		September 30,
	(In thousands of shares)	2013	2012	2013	2012
	Weighted average shares for basic loss per share	6,187	5,935	6,098	5,948
	Effect of dilutive common share equivalents	—	—	—	—
	Weighted average shares and dilutive common share equivalents for dilutive loss per share	6,187	5,935	6,098	5,948
	GAAP requires the exclusion of certain potentially dilutive securities when an entity reports a net loss, so that the calculated earnings per share are a more conservative (greater) loss per share.  The Company was in a net loss position for the three and nine months ended September 30, 2013 and 2012.  Therefore, for the purposes of computing dilutive loss per share for the three and nine months ended September 30, 2013 and 2012, the Company excluded approximately 456,000 and 460,000, respectively, of shares underlying stock options, 40,000 and 375,000, respectively, of shares of restricted stock, and 21,000 and 165,000, respectively, of shares underlying restricted stock units (“RSUs”).

Cash_and_Cash_Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2013
Cash and Cash Equivalents	'
Cash and Cash Equivalents	'
	3.                            Cash and Cash Equivalents
	The Company has defined cash equivalents as highly liquid investments with original maturities of less than 90 days that are not segregated for regulatory purposes or held for sale in the ordinary course of business.  At September 30, 2013 and December 31, 2012, cash equivalents were approximately $3.3 million and $3.1 million, respectively.  Cash and cash equivalents of approximately $40.9 million and $21.8 million at September 30, 2013 and December 31, 2012, respectively, were held at one financial institution.

Cash_and_Securities_Segregated

Cash and Securities Segregated for Regulatory and Other Purposes	9 Months Ended
	Sep. 30, 2013
Cash and Securities Segregated for Regulatory and Other Purposes	'
Cash and Securities Segregated for Regulatory and Other Purposes	'
	4.                            Cash and Securities Segregated for Regulatory and Other Purposes
	The Company self-cleared its trading activities in U.S. government securities (the “Rates business”) and was therefore subject to the Customer Protection rules under Rule 15c3-3 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  These activities were discontinued during the second quarter of 2013.  At September 30, 2013 and December 31, 2012, the Company segregated cash of $1.0 million and $1.0 million, respectively, in a special reserve bank account for the exclusive benefit of customers pertaining to the previous activities of the Company’s former Rates business and items related to when the Company was previously conducting self-clearing in prior years, including outstanding checks issued to customers and vendors, and other miscellaneous items.
	In addition, cash and securities segregated for regulatory and other purposes at September 30, 2013 include $5.0 million of cash deposited into an escrow account by ClearPoint in connection with the Homeward Transaction, which is required to be maintained until February 22, 2016 (the third anniversary of the closing date). Refer to Note 15 herein for additional information.  Cash segregated at December 31, 2012 includes $12.0 million of cash on deposit with ClearPoint’s warehouse lenders in connection with ClearPoint’s loan origination activities, now discontinued.

Resale_and_Repurchase_Agreemen

Resale and Repurchase Agreements	9 Months Ended
	Sep. 30, 2013
Resale and Repurchase Agreements	'
Resale and Repurchase Agreements	'
	5.                            Resale and Repurchase Agreements
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a detailed discussion of accounting policies related to the Company’s resale and repurchase agreements.
	There were no outstanding resale and repurchase agreements at September 30, 2013.  At December 31, 2012, the fair value of financial instruments held as collateral by the Company that it was permitted to deliver or repledge in connection with resale agreements was approximately $137.9 million, substantially all of which was repledged in the form of repurchase agreements at December 31, 2012.
	The following table presents the gross and net information about the Company’s resale and repurchase agreements that are offset in the financial statements:
				September 30, 2013									December 31, 2012
	(in thousands of dollars)			Gross						Net			Gross						Net
	Asset / Liability	Collateral Type		Amounts			Netting			Amounts			Amounts			Netting			Amounts
	Resale agreements	U.S. government and federal agency obligations		$	—		$	—		$	—		$	238,014		$	(238,014	)	$	—
	Repurchase agreements	U.S. government and federal agency obligations		$	—		$	—		$	—		$	397,400		$	(238,014	)	$	159,386
	The following tables provide detail on the maturity composition of the outstanding repurchase agreements at December 31, 2012 (there were no outstanding repurchase agreements at September 30, 2013):
		December 31, 2012
	(In thousands of dollars)	Overnight			< 30 days			30-90 days			> 90 days			On			Total,
														Demand			net
	Collateral Type
	U.S. government and federal agency obligations	$	106,991		$	50,052		$	—		$	—		$	2,343		$	159,386

Receivables_from_and_Payables_

Receivables from and Payables to Brokers, Dealers, and Clearing Organizations	9 Months Ended
	Sep. 30, 2013
Receivables from and Payables to Brokers, Dealers, and Clearing Organizations	'
Receivables from and Payables to Brokers, Dealers, and Clearing Organizations	'
	6.                            Receivables from and Payables to Brokers, Dealers, and Clearing Organizations
	Amounts receivable from and payable to brokers, dealers and clearing organizations consist of the following:
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Deposits with clearing organizations	$	7,056	$	9,566
	Receivable from clearing organizations	2,131		2,001
	Receivable for unsettled trading activities	—		237
	Underwriting and syndicate fees receivable	—		1,020
	Total receivables	$	9,187	$	12,824
	Payable to clearing organizations	—		638,009
	Payable for unsettled trading activities	—		—
	Total payables	$	—	$	638,009
	Included within deposits with clearing organizations at September 30, 2013 and December 31, 2012 is a deposit with the Fixed Income Clearing Corporation (“FICC”) of approximately $6.3 million and $8.8 million, respectively, related to the Company’s self clearing activities associated with the former Rates business.  Deposits with clearing organizations will be returned to the Company if the memberships with the clearing organizations are terminated.
	Payable to clearing organizations at December 31, 2012 included approximately $35.5 million of excess equity (funds that are readily available to the Company) held at the Company’s principal clearing broker.
	Prior to the discontinuation of the Company’s Fixed Income businesses during the second quarter of 2013, securities transactions were recorded on their trade date as if they had settled.  The related amounts receivable and payable for unsettled securities transactions were recorded net, by clearing organization, in Receivables from or Payables to brokers, dealers and clearing organizations in the Consolidated Statements of Financial Condition.

Receivables_from_and_Payables_1

Receivables from and Payables to Others	9 Months Ended
	Sep. 30, 2013
Receivables from and Payables to Others	'
Receivables from and Payables to Others	'
	7.                            Receivables from and Payables to Others
	Amounts Receivable from and Payable to Others consist of the following:
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Loan receivable	$	300	$	600
	Management fees receivable	176		189
	Loans and advances	126		234
	Receivable from Homeward — transition services	46		—
	Principal paydowns — Agency mortgage-backed securities	—		5,744
	Interest receivable	—		4,370
	Others	401		1,426
	Total receivables from others	$	1,049	$	12,563
	Payable to former employees - Employee Investment Funds (Refer to Note 10)	$	1,001	$	941
	Draft payables	1,191		133
	Others	541		1,177
	Total payables to others	$	2,733	$	2,251
	The Company maintains a group of “zero balance” bank accounts which are included in Payable to others on the Consolidated Statements of Financial Condition.  Drafts payable represent the balance in these accounts related to outstanding checks that have not yet been presented for payment at the bank.  The Company has sufficient funds on deposit to clear these checks, and these funds will be transferred to the “zero-balance” accounts upon presentment.

Financial_Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2013
Financial Instruments	'
Financial Instruments	'
	8.                            Financial Instruments
	The Company sold substantially all of its financial instruments in connection with the discontinuation of its Fixed Income businesses in the second quarter of 2013 and the Homeward Transaction in the first quarter of 2013.  The Company maintains cash equivalents and continues to hold investments, principally in FA Technology Ventures, L.P. (“FATV” or “the Partnership”). For a detailed discussion of accounting policies related to the Company’s financial instruments & investments, loans and derivative financial instruments prior to the Company’s exit from the previously mentioned businesses, refer to Note 1 and Note 8 within the footnotes to the consolidated financial statements contained within Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
	ASC 820 “Fair Value Measurements and Disclosures” defines fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date and establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:
	Level 1: Quoted prices in active markets that the Company has the ability to access at the reporting date, for identical assets or liabilities.
	Level 2: Directly or indirectly observable prices in active markets for similar assets or liabilities; quoted prices for identical or similar items in markets that are not active; inputs other than quoted prices (e.g., interest rates, yield curves, credit risks, volatilities); or “market corroborated inputs.”
	Level 3: Unobservable inputs that reflect management’s own assumptions about the assumptions market participants would make.
	** Prices are not adjusted for the effects, if any, of the Company holding a large block relative to the overall trading volume (referred to as a “blockage factor”).
	Fair Valuation Methodology
	Cash Equivalents — These financial assets represent cash in banks or cash invested in highly liquid investments with original maturities of less than 90 days that are not segregated for regulatory purposes or held for sale in the ordinary course of business.  These investments are valued at par, which represent fair value, and are considered Level 1 as these instruments are generally traded in active, quoted and highly liquid markets.  The Company’s cash equivalents were $3.3 million and $3.1 million at September 30, 2013 and December 31, 2012, respectively.
	Financial Instruments Owned — The remaining financial instruments owned of approximately $0.9 million at September 30, 2013 are primarily associated with legacy deferred compensation plans provided by the Company, which will be paid out between 2014 and 2016.  The Company has not permitted new amounts to be deferred under these plans since February 28, 2007. The assets are all Level 1 equity securities, which are traded in active, quoted and highly liquid markets.
	Investments — The Company’s investments consist of interests in privately held securities, the valuations of which are based predominantly on unobservable inputs and are therefore classified as Level 3. The Company’s investments were $17.9 million and $20.5 million at September 30, 2013 and December 31, 2012, respectively.  Refer to Note 10 herein for additional information.
	Investments — Quantitative Disclosure About Significant Unobservable Inputs
	The Company’s investments of approximately $17.9 million at September 30, 2013, are primarily associated with the Company’s limited partnership investment in FATV of approximately $14.9 million.  FATV holds interests in six privately held companies.  Refer to Note 10 herein for additional information.
	Valuation Technique	Unobservable Input		Range (Weighted Average)
	Market comparable companies	Enterprise value/Revenue multiple		2.7x — 6.7x (5.4x)
		Discount applied to multiples		30.0% - 35.0% (31.0%)
	An increase in the enterprise value/revenue multiple would result in a higher fair value for these investments, whereas, an increase in the discounts applied to these multiples would reduce fair value.
	The following table summarizes the categorization of the financial instruments within the fair value hierarchy including those for which the Company accounts for under the fair value option at December 31, 2012:
		Assets at Fair Value
	(In thousands of dollars)	Level 1			Level 2			Level 3		Total
	Financial instruments owned
	Agency mortgage-backed securities	$	—		$	903,928		$	1,110	$	905,038
	Loans	—			77,573			—		77,573
	Federal agency obligations	—			46,021			—		46,021
	Corporate debt securities	—			30,246			—		30,246
	Residential mortgage-backed securities	—			23,077			149		23,226
	Commercial mortgage-backed securities	—			4,880			18		4,898
	Preferred stock	2,439			—			—		2,439
	U.S. government obligations	1,996			100			—		2,096
	Other debt obligations	—			2,074			—		2,074
	Equity securities	675			—			28		703
	Collateralized debt obligations	—			—			671		671
	Derivatives	232			—			964		1,196
	Total financial instruments owned, at fair value	5,342			1,087,899			2,940		1,096,181
	Investments	—			—			20,478		20,478
	Total	$	5,342		$	1,087,899		$	23,418	$	1,116,659
		Liabilities at Fair Value
	(In thousands of dollars)	Level 1			Level 2			Level 3		Total
	Securities sold, but not yet purchased
	U.S. Government obligations	$	128,504		$	—		$	—	$	128,504
	Corporate debt securities	—			2,520			—		2,520
	Equity securities	2			—			—		2
	Derivatives	1,704			—			—		1,704
	Total financial liabilities, at fair value	$	130,210		$	2,520		$	—	$	132,730
	Financial Instrument Classification — Transfers between Levels 1, 2 and 3
	The Company reviews its financial instrument classification on a quarterly basis.  As the observability and strength of valuation attributes change, reclassifications of certain financial assets or liabilities may occur between levels.  The Company’s policy is to utilize an end-of-period convention for determining transfers in or out of Levels 1, 2 and 3.  During the three and nine months ended September 30, 2013 and September 30, 2012, there were no transfers between Levels 1 and 2.  Transfers between Levels 2 and 3 are disclosed in the Level 3 roll-forward tables below.
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the three months ended September 30, 2013:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		June 30,			(losses)											and/or out of			September 30,		unrealized
		2013			(realized and											Level 3			2013		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
	Investments	$	20,995		$	92		$	—	$	—		$	(3,203	)	$	—		$	17,884	$	(1,326	)
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the three months ended September 30, 2012:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		June 30,			(losses)											and/or out of			September 30,		unrealized
		2012			(realized and											Level 3			2012		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
Commercial mortgage-backed securities	$	5,682		$	(424	)	$	133	$	(1,568	)	$	(4	)	$	—		$	3,819	$	(380	)
Residential mortgage-backed securities	10,355			331			12,700		(11,482		)	(623		)	—			11,281		37
Other debt obligations	2,553			20			11,362		(3,420		)	(28		)	—			10,487		3
Agency mortgage-backed securities	1,486			(80		)	3		(1,401		)	—			—			8		35
Collateralized debt obligations	554			(3		)	—		—			—			—			551		234
Equities	112			(14		)	—		—			—			—			98		(14		)
Investments	19,090			163			—		—			—			—			19,253		32
Derivatives	1,737			2,953			—		—			(1,737		)	—			2,953		2,953
Total	$	41,569		$	2,946		$	24,198	$	(17,871	)	$	(2,392	)	$	—		$	48,450	$	2,900
The following table summarizes the changes in the Company’s Level 3 financial instruments for the nine months ended September 30, 2013:
(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
	December 31,			(losses)											and/or out of			September		unrealized
	2012			(realized and											Level 3			30, 2013		gains/(losses)
				unrealized)																on Level 3
																				assets still
																				held at the
																				reporting date
Agency mortgage-backed securities	$	1,110		$	(50	)	$	—	$	(1,060	)	$	—		$	—		$	—	$	—
Collateralized debt obligations	671			(567		)	—		(104		)	—			—			—		—
Residential mortgage-backed securities	149			(86		)	—		(51		)	(12		)	—			—		—
Equities	28			(28		)	—		—			—			—			—		—
Commercial mortgage-backed securities	18			(15		)	—		(3		)	—			—			—		—
Investments	20,478			(338		)	947		—			(3,203		)	—			17,884		(1,670		)
Derivatives	964			—			—		—			(964		)	—			—		—
Total	$	23,418		$	(1,084	)	$	947	$	(1,218	)	$	(4,179	)	$	—		$	17,884	$	(1,670	)
The following table summarizes the changes in the Company’s Level 3 financial instruments for the nine months ended September 30, 2012:
(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
	December 31,			(losses)											and/or out of			September		unrealized
	2011			(realized and											Level 3(1)			30, 2012		gains/(losses)
				unrealized)																on Level 3
																				assets still
																				held at the
																				reporting date
Commercial mortgage-backed securities	$	38,154		$	(6,497	)	$	7,383	$	(33,058	)	$	(62	)	$	(2,101	)	$	3,819	$	(1,322	)
Residential mortgage-backed securities	18,419			(555		)	11,680		(17,329		)	(934		)	—			11,281		12
Other debt obligations	192			10			16,153		(5,848		)	(20		)	—			10,487		(1		)
Agency mortgage-backed securities	1,367			(140		)	15		(1,232		)	(2		)	—			8		4
Collateralized debt obligations	647			(96		)	60		(60		)	—			—			551		(93		)
Equities	112			(14		)	—		—			—			—			98		(14		)
Preferred stock	571			188			5,624		(6,383		)	—			—			—		—
Investments	18,310			156			800		—			(13		)	—			19,253		210
Derivatives	1,696			5,575			—		—			(4,318		)	—			2,953		2,953
Total	$	79,468		$	(1,373	)	$	41,715	$	(63,910	)	$	(5,349	)	$	(2,101	)	$	48,450	$	1,749
(1)         During the nine months ended September 30, 2012, the Company transferred approximately $2.1 million of commercial mortgage backed securities from Level 3 to Level 2 due to price discovery resulting from Company trading activity occurring in close proximity to the respective quarter-end.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2013
Derivatives	'
Derivatives	'
	9.                            Derivatives
	The Company utilized derivatives for various economic hedging strategies to actively manage its market and liquidity exposures, principally in connection with the sales and trading activities of the Company’s MBS & Rates division (now discontinued).  In addition, ClearPoint entered into mortgage loan IRLCs in connection with its mortgage lending activities, which have been wound down in connection with the Homeward Transaction.  The following table summarizes the Company’s derivative instruments as of September 30, 2013 and December 31, 2012:
		September 30, 2013					December 31, 2012
	(In thousands of dollars)	Number	Notional		Fair Value		Number	Notional		Fair
		of					of			Value
		Contracts					Contracts
	Purchase Contracts
	TBA purchase agreements	—	$	—	$	—	19	$	202,646	$	54
	IRLCs	—	—		—		512	100,079		964
	Total	—	$	—	$	—	531	$	302,725	$	1,018
	Sale Contracts
	TBA sale agreements	—	$	—	$	—	27	$	708,076	$	(1,511	)
	Eurodollar futures contracts	—	—		—		268	268,000		(15		)
	Total	—	$	—	$	—	295	$	976,076	$	(1,526	)

Investments

Investments	9 Months Ended
	Sep. 30, 2013
Investments	'
Investments	'
	10.                     Investments
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a detailed discussion of the accounting policies related to the Company’s investments included within the policy titled “Financial Instruments and Investments” and Note 8 herein for additional information regarding valuation techniques and inputs related to the Company’s investment in FATV.  Fair value information regarding these investments is presented below:
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Investment in FATV(1)	$	14,918		$	17,110
	Employee Investment Funds, net of Company’s ownership interest	1,366			1,218
	Other investments	1,600			2,150
	Total Investments	$	17,884		$	20,478
	(1) Excludes the Company’s share of carried interest in FATV of approximately $2.3 million and $1.6 million at September 30, 2013 and December 31, 2012, which is unrecognized as collection is not reasonably assured.
	Investment gains and losses are comprised of the following:
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
	(In thousands of dollars)	2013			2012		2013			2012
	Investment in FATV	$	1,043		$	137	$	1,126		$	167
	Employee Investment Funds	20			26		33			(11		)
	Other investments	(971		)	—		(1,497		)	—
	Total investment gains/(losses)	$	92		$	163	$	(338	)	$	156
	The Company has an equity-method investment in FATV of approximately $14.9 million and $17.1 million at September 30, 2013 and December 31, 2012, respectively.  FATV’s primary purpose is to provide investment returns consistent with the risk of investing in venture capital. FA Technology Ventures Corporation, a wholly-owned subsidiary of the Company, is the investment advisor to FATV.  There were no material open commitments to fund this portfolio at September 30, 2013.  At September 30, 2013 and December 31, 2012, total Partnership capital for all investors in FATV equaled $64.8 million and $70.9 million, respectively.  The Partnership is now scheduled to terminate on July 19, 2014.  The Partnership is considered a variable interest entity. The Company is not the primary beneficiary, due to other investors’ level of investment in the Partnership.  Accordingly, the Company has not consolidated the Partnership in these consolidated financial statements, but has only recorded the fair value of its investment, which also represents the Company’s maximum exposure to loss in the Partnership at September 30, 2013 and December 31, 2012.  The Company’s share of management fee income derived from the Partnership for the three months ended September 30, 2013 and 2012 was $0.2 million and $0.2 million, respectively, and were $0.5 million and $0.5 million for the nine months ended September 30, 2013 and 2012, respectively.
	The Employee Investment Funds (“EIF”) are limited liability companies established by the Company for the purpose of having select employees invest in private equity securities.  The EIF is managed by Broadpoint Management Corp., a wholly-owned subsidiary of the Company, which has contracted with FATV to act as an investment advisor with respect to funds invested in parallel with the Partnership.  The Company consolidated EIF resulting in approximately $1.4 million and $1.2 million of Investments, respectively, and approximately $1.0 million and $0.9 million of payables to former employees, respectively, being recorded in the Consolidated Statements of Financial Condition at September 30, 2013 and December 31, 2012, respectively.  Management fees are not material.
	Other investments of approximately $1.6 million are investments in privately held companies that were strategically aligned with the operations of the Company conducted at the respective times of investment.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets	'
Goodwill and Intangible Assets	'
	11.                     Goodwill and Intangible Assets
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a detailed discussion of the accounting policy related to goodwill and intangible assets.
	Goodwill
	The following table sets forth the roll-forward of goodwill for the nine months ended September 30, 2013:
	(In thousands of dollars)
	Goodwill — RangeMark acquisition
	Balance at December 31, 2012	$	1,212
	- Impairment — second quarter of 2013	(1,212		)
	Balance at September 30, 2013	$	—
	The Company determined that the goodwill associated with RangeMark was fully impaired as a result of the Company’s exit from its Fixed Income businesses in the second quarter of 2013 (the intangible assets were also fully impaired — refer to “Intangible Assets” below).  The impairment of the RangeMark goodwill (and intangible assets) were substantially offset against the unpaid purchase consideration and therefore had an insignificant impact to the Company’s results of operations for the second quarter of 2013.
	Intangible Assets
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Intangible assets (amortizable):
	MBS & Rates segment — Customer relationships
	Gross carrying amount	$	641		$	641
	Accumulated amortization	(476		)	(463		)
	Impairment of intangible asset — second quarter of 2013	(165		)	—
	Net carrying amount	—			178
	RangeMark — Intellectual Property
	Gross carrying amount	1,050			1,050
	Accumulated amortization	(87		)	(35		)
	Impairment of intangible asset — second quarter of 2013	(963		)	—
	Net carrying amount	—			1,015
	RangeMark — Trade Name
	Gross carrying amount	480			480
	Accumulated amortization	(20		)	(8		)
	Impairment of intangible asset — second quarter of 2013	(460		)	—
	Net carrying amount	—			472
	Credit Products segment - Customer relationships
	Gross carrying amount	795			795
	Accumulated amortization	(795		)	(768		)
	Net carrying amount	—			27
	Investment Banking segment — Trade name
	Gross carrying amount	4,066			4,066
	Accumulated amortization	(1,134		)	(1,057		)
	Impairment of intangible asset — second quarter of 2013	(2,932		)	—
	Net carrying amount	—			3,009
	ClearPoint segment — Customer relationships
	Gross carrying amount	803			803
	Accumulated amortization	(216		)	(201		)
	Impairment of intangible asset — first quarter of 2013	(587		)	—
	Net carrying amount	—			602
	Total intangible assets	$	—		$	5,303
	The intangible assets of the Investment Banking and Fixed Income businesses were fully impaired in connection with the Company’s exit from these businesses during the second quarter of 2013.  During the first quarter of 2013, the Company determined that the ClearPoint customer relationship intangible asset was fully impaired as a result of the Homeward Transaction.  These impairment charges have been classified as part of discontinued operations.  As previously mentioned, the impairment of the RangeMark intangible assets (and goodwill) were substantially offset against the unpaid purchase consideration and therefore had an insignificant impact to the Company’s results of operations for the second quarter of 2013.

Office_Equipment_and_Leasehold

Office Equipment and Leasehold Improvements	9 Months Ended
	Sep. 30, 2013
Office Equipment and Leasehold Improvements	'
Office Equipment and Leasehold Improvements	'
	12.                     Office Equipment and Leasehold Improvements
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a discussion of the accounting policy related to office equipment and leasehold improvements.
	Office equipment and leasehold improvements consist of the following:
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Communications and data processing equipment	$	280		$	5,149
	Furniture and fixtures	55			3,334
	Leasehold improvements	—			1,802
	Software	61			850
	Total	396			11,135
	Less: accumulated depreciation and amortization	(210		)	(5,824		)
	Total office equipment and leasehold improvements, net	$	186		$	5,311
	During the three months ended September 30, 2013, the Company recorded a non-cash impairment charge related to office equipment and leasehold improvements of approximately $0.5 million which are being abandoned in connection with the termination of its lease for its headquarters at 1290 Avenue of the Americas, New York, New York.  Refer to Note 15 “Leases” herein for additional information.  In addition, during the second quarter of 2013, a non-cash impairment charge of approximately $3.5 million relating to office equipment and leasehold improvements was recorded by the Company in connection with its exits from the Investment Banking and Fixed Income businesses.

Other_Assets

Other Assets	9 Months Ended
	Sep. 30, 2013
Other Assets	'
Other Assets	'
	13.                     Other Assets
	Other assets consist of the following:
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Prepaid expenses	$	2,909	$	2,761
	Collateral deposits	1,086		5,165
	Other	466		1,104
	Total other assets	$	4,461	$	9,030
	On September 27, 2013, the Company entered into an agreement terminating the lease for its headquarters at 1290 Avenue of the Americas, New York, New York.  In connection with this termination, the landlord retained approximately $3.9 million previously deposited by the Company with the landlord as security under the lease.  Refer to Note 15 “Leases” herein for additional information.

Secured_Borrowings

Secured Borrowings	9 Months Ended
	Sep. 30, 2013
Secured Borrowings	'
Secured Borrowings	'
	14.                     Secured Borrowings
	ClearPoint was extended secured mortgage warehouse lines of credit in order to fund mortgage originations.  As of December 31, 2012, the outstanding borrowings under these credit facilities were approximately $64.9 million.  In connection with the Homeward Transaction, the Company entered into Consent and Wind-down Agreements in favor of the lenders to these credit facilities.  ClearPoint had no remaining exposure to these credit facilities as of the second quarter of 2013.
	ClearPoint Held for Sale Activities, including Transition Services
	In addition, in connection with the Homeward Transaction, ClearPoint agreed to provide transition services which included loan origination services in Massachusetts and Virginia.  These loan origination services terminated on April 30, 2013.  Homeward has indemnified ClearPoint from and against any losses suffered in connection with these activities, had provided a payment and performance guaranty of ClearPoint’s obligations to the lender of this facility and was obligated to reimburse ClearPoint for the costs of providing the loan origination services.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies	'
Commitments and Contingencies	'
	15.                     Commitments and Contingencies
	Litigations and Arbitrations
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a detailed discussion of the accounting policy related to contingencies.
	Arbitration — Thomas J. Hughes (former Chief Executive Officer) and John Griff (former Chief Operating Officer)
	In August 2012, the Company adopted a Senior Management Compensation and Retention Plan (“Retention Plan”) and entered into related agreements with four of its executive officers.  Under the Retention Plan, termination of employment under certain circumstances in connection with the occurrence of a Change in Control, as defined by the Retention Plan, could trigger payments to the covered executive officers.  In general, a cash payment would be required following an involuntary termination of employment by the Company (or a resignation by the covered executive officer for good reason, as defined) within six months before or two years after a Change in Control.
	Effective May 24, 2013, the employment of each of Thomas J. Hughes, our former Chief Executive Officer, and John Griff, our former Chief Operating Officer, was terminated by the Company.  Messrs. Hughes and Griff each participated in the Retention Plan and each has a related retention plan agreement with the Company.  To the extent a Change in Control were to occur by November 24, 2013 (six months after the applicable dates of termination), cash payments totaling approximately $7.0 million (and other incidental benefits) would become payable to these former employees (subject to satisfaction by the former employees of certain conditions).
	Subsequent to the Company’s termination of these former officers, Messrs. Hughes and Griff made a demand to the Company for benefits under the Retention Plan and their related agreements, and following the Company’s rejection of their demand, commenced an arbitration proceeding on September 17, 2013 before the Financial Industry Regulatory Authority (“FINRA”) seeking money damages in an approximate amount of $7.9 million, vesting of unvested equity awards and other relief, all of which they claim are due as a result of their respective terminations.  The Company has determined that no severance payments based upon a “Change in Control” (as defined in the applicable agreements) are due to these former officers inasmuch as the Company has concluded that no “Change in Control” has occurred. We believe that these individuals’ claims that a Change in Control has occurred are without merit.
	Pursuant to his employment agreement, in the absence of a “Change in Control,” Mr. Hughes would be entitled to a severance payment of $750,000 (not accrued at September 30, 2013), and pursuant to his Restricted Stock Award Agreement, Mr. Griff would be entitled to vesting of 20,833 unvested shares of restricted stock, subject in each case to the execution and delivery within a specified time period (and non-revocation) of a release of claims against the Company and continued compliance with certain restrictive covenants.  These conditions have not yet been satisfied.
	No amounts in respect of Messrs. Hughes’ and Griff’s claims have been accrued as of September 30, 2013.
	Settlement — Joseph Mannello (former employee)
	On October 17, 2013, Gleacher & Company Securities, Inc. (“Gleacher Securities”), a wholly-owned subsidiary of the Company, and Mr. Joseph Mannello, a former employee, entered into a settlement and release agreement (the “Settlement”) relating to compensation and other claims made by Mr. Mannello in connection with his previous employment by Gleacher Securities and its subsequent termination.  Under the terms of the Settlement, Gleacher Securities will pay to Mr. Mannello approximately $2.9 million and reimburse him for legal costs in the amount of $0.6 million.  In exchange, Mr. Mannello has released Gleacher Securities, its Parent and affiliates from all claims that he had, has or may have and confirmed that he has forfeited any equity in the Company that was unvested as of the date of his termination.
	In connection with the Settlement, the Company recorded a charge of approximately $3.2 million during the three months ended September 30, 2013 which is included within Other expenses in the Consolidated Statements of Operations.  The Company’s liability of $3.5 million at September 30, 2013 is included within Accounts payable and accrued expenses in the Consolidated Statements of Financial Condition.
	General
	Due to the nature of the Company’s prior business activities, the Company and its subsidiaries have been exposed to risks associated with a variety of legal proceedings and claims.  These include litigations, arbitrations and other proceedings initiated by private parties and arising from underwriting, financial advisory, securities trading or other transactional activities, client account activities, mortgage lending and employment matters, and stockholder claims.  Third parties who assert claims may do so for monetary damages that are substantial, particularly relative to the Company’s financial position.  These proceedings and claims typically involve associated legal costs incurred by the Company in connection with defending against these matters, which could be significant.  The Company has been in the past, and currently is, subject to a variety of claims and litigations, most of which it considers to be routine.
	As a result of their prior business activities, the Company and its subsidiaries are also subject to both routine and unscheduled regulatory examinations of their respective businesses and investigations of securities industry practices by governmental agencies and self-regulatory organizations.  In recent years, securities and mortgage lending firms have been subject to increased scrutiny and regulatory enforcement activity.  Regulatory investigations can result in substantial fines being imposed on the Company and/or its subsidiaries.  As a result of prior business activities, the Company and its subsidiaries have received, and may in the future receive, inquiries and subpoenas from the SEC, FINRA, state regulators and other regulatory organizations.  The Company does not always know the purpose behind these communications or the status or target of any related investigation.  Some of these communications have, in the past, resulted in disciplinary actions which have sometimes included monetary sanctions and in the Company and/or its subsidiaries being cited for regulatory deficiencies.  To date, none of these communications have had a material adverse effect on the Company nor does the Company believe that any pending communications are likely to have such an effect.  Nevertheless, there can be no assurance that any pending or future communications will not have a material adverse effect on the Company.  In addition, the Company is also subject to claims being made by employees alleging discrimination, harassment, wrongful discharge or breach of an employment agreement or other contractual arrangement, among other things.  Employees could seek recoupment of compensation claimed to be owed (whether for cash or forfeited equity awards), severance payments, vesting of equity awards and other damages.  These claims could involve significant amounts.
	The Company recognizes a liability in its financial statements with respect to legal proceedings or claims when incurrence of a loss is probable and the amount of loss is reasonably estimable.  However, accurately predicting the timing and outcome of legal proceedings and claims, including the amounts of any settlements, judgments or fines, is inherently difficult insofar as it depends on obtaining all of the relevant facts (which is sometimes not feasible) and applying to them often-complex legal principles.  It is reasonably possible that the Company incurs losses pertaining to these matters in the form of settlements and/or adverse judgments and incurs legal and other expenses in defending against these matters.  In either case, losses and/or expenses could be different in character or amount than anticipated by management when preparing the accompanying financial statements.  Based on currently available information, the Company does not believe that any current litigation, proceeding, claim or other matter to which it is a party or otherwise involved, including any associated defense costs, will have a material adverse effect on its financial position, or cash flows, although an adverse development, or an increase in associated legal fees, could be material to the Company’s results of operations in a particular period, depending in part on the Company’s operating results in that period.
	Employment Agreements — Company’s General Counsel and Secretary and its Controller
	On October 18, 2013, the Company entered into key employee retention agreements (each an “Employment Agreement”) with each of its General Counsel and Secretary and its Controller.  These Employment Agreements supersede all prior agreements relating to matters covered in the Employment Agreements, including each of these executive’s participation agreements under the Retention Plan.
	The Employment Agreements cover the period beginning on January 1, 2013 and ending on November 30, 2014 and provide for guaranteed bonus compensation in the aggregate of $3,550,000 (and other incidental benefits) to these executives, subject to continuing employment and payable in accordance with a fixed schedule, which may be accelerated in certain circumstances.  In connection with entering into the Employment Agreements, the Company recorded a charge of approximately $1.4 million during the three months ended September 30, 2013.  This liability is included within Accrued compensation within the Consolidated Statements of Financial Condition.
	Other Compensation Matters
	As a result of the Company’s restructuring, the Company entered into agreements with the majority of its other remaining employees (excluding the Company’s General Counsel and its Controller, discussed above) designed to retain these employees through specified dates.  The agreements provide for continued employment and the payment of guaranteed bonus compensation contingent upon continued service through such specified dates.  These bonus payments total approximately $0.8 million in the aggregate.  During the three and nine months ended September 30, 2013, the Company has recognized compensation expense of $0.3 million and $0.5 million respectively.  At September 30, 2013, the Company’s liability was approximately 0.4 million which is included within Accrued compensation in the Consolidated Statements of Financial Condition.
	Guarantees and Other Indemnifications Relating to Certain Contractual Obligations of ClearPoint
	On February 14, 2013, the Company and certain of its affiliates, including ClearPoint, entered into an Asset Purchase Agreement (“Purchase Agreement”) in connection with the Homeward Transaction.  The Purchase Agreement, among other things, provides for customary indemnification provisions.  Pursuant to these provisions, the Company is required to maintain an escrow account of $5.0 million for a three-year period following the closing date (February 22, 2016).  The Parent has also provided for a guaranty of ClearPoint’s indemnification obligations to Homeward, up to a maximum of $7.5 million, of which $5.0 million is payable by Parent under the guaranty only in limited circumstances in which, during the three-year period following the closing date, the sums held in the escrow account are not available to satisfy indemnification claims.  Any amounts paid under the guaranty will be released to the Company from the escrow account on a dollar-for-dollar basis (assuming funds are available).  Indemnity claims of Homeward, if any, will be paid first from the escrow account, and then, to the extent necessary, drawn upon the guaranty.
	ClearPoint Loan Repurchases
	In addition to the indemnification provisions related to the Homeward Transaction, in the ordinary course of business, ClearPoint also indemnified its other counterparties, including under its loan sale and warehouse line agreements, against potential losses incurred by such parties in connection with particular arrangements.  At September 30, 2013, ClearPoint had loan repurchase requests outstanding related to three loans with an aggregated current loan balance of approximately $0.8 million (of which two loans with an aggregated loan balance of approximately $0.6 million were presented by Homeward).  The Company is currently evaluating these requests, and to the extent ultimately repurchased, would expect to substantially recoup any payments made under these requests through the proceeds from the sale of the loans in a secondary market.  A reserve for loan repurchases and indemnification claims of approximately $0.3 million and $0.4 million at September 30, 2013 and December 31, 2012, respectively, is included within Accounts payable and accrued expenses in the Consolidated Statements of Financial Condition.
	Total repurchase requests for the nine months ended September 30, 2013 were approximately $1.0 million, and losses recognized in connection with these repurchase requests were approximately $0.1 million for the three and nine months ended September 30, 2013.
	Leases
	On September 27, 2013, as a result of its previously disclosed restructurings, the Company entered into an agreement terminating the lease for its headquarters at 1290 Avenue of the Americas, New York, New York.  The lease was previously scheduled to expire on April 30, 2025 and had a remaining contractual obligation for base rent of approximately $61 million.  Pursuant to this agreement, the Company surrendered a portion of the premises (the “First Premises”) to the landlord on September 30, 2013 (the “First Surrender Date”) and the remainder of the premises (the “Second Premises”) will be surrendered on or about November 14, 2013 (the “Second Surrender Date”).  As of the First Surrender Date (as to the First Premises) and the Second Surrender Date (as of the Second Premises), all rights and obligations of the Company under the lease shall expire and terminate with the same effect as if each Surrender Date were the expiration date set forth in the lease.
	The lease termination terms are set forth in the Surrender Agreement, dated September 27, 2013 (the “Surrender Agreement”), between the Company and the landlord.  The Company’s total termination obligation under the Surrender Agreement is $19.5 million, satisfied by a cash payment of approximately $15.6 million (which amount includes rent and expenses through the Second Surrender Date) and retention by the landlord of approximately $3.9 million previously deposited by the Company with the landlord as security under the lease.
	As a result of this transaction, the Company recorded a charge in the third quarter of approximately $3.2 million, comprised of approximately $1.4 million not included in its previously-estimated lease reserve associated with the First Premises and $1.8 million in connection with the surrendering of the Second Premises, which is space used currently by the Company’s remaining employees and for which no reserve was previously made.  These charges are recorded as restructuring expenses and are included within discontinued operations, since the Company currently no longer requires a long-term commitment for office space due to the discontinuation of its revenue-producing operating businesses.  Refer to Notes 20, 21 and 24 herein, for additional information.
	Future minimum annual lease payments for the Company’s remaining lease commitments, and sublease rental income as of September 30, 2013, are disclosed within the table below.  These leases expire at various times through 2015.
	(In thousands of dollars)	Future		Sublease		Net Lease
		Minimum		Rental		Payments
		Lease		Income
		Payments
	2013 (remaining)	$	565	$	349	$	216
	2014	1,505		974		531
	2015	730		530		200
	Total	$	2,800	$	1,853	$	947
	The Company recognizes rent expense over the entire lease term on a straight-line basis.  To the extent the Company is provided tenant improvement allowances funded by the lessor, they are amortized over the initial lease period and serve to reduce rent expense.  Rental expense from continuing operations, net of sublease rental income, for the three months ended September 30, 2013 and 2012 was approximately $0.1 million and $0.2 million, respectively, and was $0.4 million and $0.6 million for the nine months ended September 30, 2013 and 2012, respectively.
	Letters of Credit
	The Company was contingently liable under bank stand-by letter of credit agreements, executed primarily in connection with office leases totaling $1.0 million and $4.9 million at September 30, 2013 and December 31, 2012, respectively.  These agreements were all collateralized by cash which is included within Other assets within the Consolidated Statements of Financial Condition.  Refer to Note 13 “Other Assets” herein. During the second quarter of 2013, letters of credit for approximately $3.9 million had expired and cash collateral was in the possession of the Company’s landlord.  The collateral was retained by the landlord in connection with the Company’s termination of its lease for its headquarters at 1290 Avenue of the Americas, New York, New York on September 27, 2013.  Refer to Note 15 “Leases” herein for additional information.
	Other
	In the normal course of its prior business activities, the Company provided guarantees to third parties with respect to the obligations of certain of its subsidiaries. The majority of these arrangements, discussed below, are connected to the sales and trading activities of the Company’s prior MBS & Rates and Credit Products divisions, the activities of which were discontinued in the second quarter of 2013.
	In the normal course of business, Gleacher Securities indemnified certain service providers, such as clearing and custody agents, trustees, and administrators, against specified potential losses in connection with their acting as an agent of, or providing services to, the Company or its affiliates.  Gleacher Securities also indemnified some clients against potential losses incurred in the event of non-performance by specified third-party service providers, including sub-custodians.  The maximum potential amount of future payments that Gleacher Securities could be required to make under these indemnifications cannot be estimated.  However, Gleacher Securities has historically made no material payments under these arrangements and believes that it is unlikely it will have to make material payments in the future.  Therefore, the Company has not recorded any contingent liability in the consolidated financial statements for these indemnifications.
	The Company provided representations and warranties to counterparties in connection with a variety of transactions and occasionally agreed to indemnify them against potential losses caused by the breach of those representations and warranties and occasionally other liabilities.  The maximum potential amount of future payments that the Company could be required under these indemnifications cannot be estimated.  However, the Company has historically made no material payments under these agreements and believes that it is unlikely it will have to make material payments in the future; therefore it has not recorded any contingent liability in the consolidated financial statements for these indemnifications.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity	'
Stockholders' Equity	'
	16.                     Stockholders’ Equity
	Reverse Stock Split
	On May 30, 2013, the Company implemented a reverse stock split of its shares of common stock at a ratio of 1-for-20.  As a consequence of the reverse stock split, every 20 shares of the Company’s outstanding common stock was combined into one share, without any change to the par value per share.  As previously mentioned, all share numbers and share-related disclosures contained herein have been adjusted to the extent necessary, to give retroactive effect to the reverse stock split.
	Stock Repurchase
	In February 2013, the Board of Directors of the Company renewed the Company’s share repurchase program and has authorized up to $10 million in repurchases of Company common stock through the date on which the Company publicly releases its results of operations for fiscal 2013.  No shares have been repurchased by the Company under this renewed program through the date of issuance of the accompanying consolidated financial statements.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Taxes	'
Income Taxes	'
	17.                     Income Taxes
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a discussion of the accounting policy related to income taxes.  During interim periods, the Company calculates and reports an estimated annual effective income tax rate pursuant to ASC 740-270, “Income Taxes — Interim Reporting.”
	Three and Nine Months Ended September 30, 2013
	The Company provided for a full valuation allowance against the net operating losses (“NOLs”) generated during the three and nine months ended September 30, 2013, resulting in no income tax benefit.  The Company’s pre-tax federal NOL at September 30, 2013 is estimated to be approximately $135 million.  In the event that the Company experiences an ownership change under Internal Revenue Code Section 382, the Company’s NOLs would be fully impaired (reduced nearly to zero).  Income tax expense from continuing operations of approximately $0.1 million and $0.2 million for the three and nine months ended September 30, 2013, respectively, is due to interest expense on uncertain tax positions.
	Three and Nine Months Ended September 30, 2012
	In the second quarter of 2012, the Company entered into a three-year cumulative loss position.  This cumulative loss position, along with other evidence, merited the establishment of a valuation allowance against the deferred tax assets.
	During the three months ended September 30, 2012, the Company recorded an income tax benefit from continuing operations of approximately $2.2 million.  The income tax benefit was attributable to an increase in the net value of the deferred tax assets.  Such increase was due to the Company’s ability to carry-back realizable net operating losses to prior years.
	Income tax expense from continuing operations for the nine months ended September 30, 2012 was $22.7 million and was primarily due to the previously mentioned establishment of a valuation allowance against substantially all of the Company’s deferred tax assets, of which a substantial portion has been allocated to continuing operations.

StockBased_Compensation_Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation Plans	'
Stock-Based Compensation Plans	'
	18.                     Stock-Based Compensation Plans
	Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a discussion of the accounting policy related to stock-based compensation.
	The Company recognized stock-based compensation expense related to its various employee and non-employee director stock-based incentive plans, as follows:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Continuing operations	$	74		$	803		$	1,392		$	2,356
	Discontinued operations	(8		)	(760		)	4,491			2,182
	Total	$	66	-1	$	43		$	5,883	-1	$	4,538
	(1) Includes stock-based compensation for the three and nine months ended September 30, 2013 of $0.1 million and $4.1 million, respectively, associated with the vesting of 3,000 and 267,000 shares, respectively, in connection with the Company’s previously disclosed restructurings (Refer to Note 1 herein).

Net_Capital_Requirements

Net Capital Requirements	9 Months Ended
	Sep. 30, 2013
Net Capital Requirements	'
Net Capital Requirements	'
	19.                     Net Capital Requirements
	Gleacher Securities is subject to the net capital requirements of Rule 15c3-1 promulgated under the Exchange Act (the “Net Capital Rule”), which requires the maintenance of a minimum net capital.  Gleacher Securities has elected to use the alternative method permitted by the Net Capital Rule, which requires it to maintain a minimum net capital amount equal to the greater of 2% of aggregate debit balances arising from customer transactions (as defined) or $0.25 million, subject to certain adjustments related to market making activities in certain securities.  As of September 30, 2013, Gleacher Securities had net capital, as defined by the Net Capital Rule, of $36.1 million, which was $35.9 million in excess of the $0.25 million required minimum net capital.
	Gleacher Partners, LLC is also subject to the Net Capital Rule.  Gleacher Partners, LLC has also elected to use the alternative method permitted by the rule.  As of September 30, 2013, Gleacher Partners, LLC had net capital, as defined by the Net Capital Rule, of $0.8 million, which was $0.5 million in excess of the $0.25 million required minimum net capital.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2013
Restructuring	'
Restructuring	'
	20.                     Restructuring
	Investment Banking and Fixed Income Businesses
	The Company’s Board of Directors approved plans to discontinue operations in its Investment Banking division on May 30, 2013 and Fixed Income businesses on April 5, 2013.  Exiting these businesses impacted approximately 150 employees.  Refer to Note 21 herein for additional information.
	ClearPoint — Homeward Transaction
	On February 14, 2013, the Company entered into an agreement to sell substantially all of ClearPoint’s assets to Homeward.  This transaction closed on February 22, 2013, and all remaining business activities of ClearPoint have been substantially wound down.  Refer to Note 21 herein for additional information.
	The following table summarizes the restructuring charges incurred by the Company for the three and nine months ended September 30, 2013, which have been recorded as a component of discontinued operations:
		Three Months			Nine Months
		Ended			Ended
	(In thousands of dollars)	September 30,			September 30,
		2013			2013
	Cash Charges:
	Investment Banking
	Severance compensation	$	—		$	1,417
	Third party vendor contracts and other costs	70			332
	Subtotal — Investment Banking (cash charges):	70			1,749
	Fixed Income businesses
	Severance compensation	262			8,323
	Third party vendor contracts and other costs	491			6,134
	Subtotal — Fixed Income (cash charges):	753			14,457
	ClearPoint
	Severance and other compensation	—			1,263
	Third party vendor contracts and other costs	88			201
	Subtotal — ClearPoint (cash charges):	88			1,464
	Other
	Severance compensation	43			712
	Reserve for lease commitments	3,202			19,957
	Subtotal — Other (cash charges):	3,245			20,669
	Total — Cash Charges:	$	4,156		$	38,339
	Non-Cash Charges:
	Investment Banking
	Intangible asset impairment	$	—		$	2,932
	Stock-based compensation vesting	—			254
	Subtotal — Investment Banking (non-cash charges):	—			3,186
	Fixed Income businesses
	Goodwill & intangible asset impairment	—			388
	Stock-based compensation vesting	—			3,681
	Subtotal — Fixed Income (non-cash charges):	—			4,069
	ClearPoint
	Intangible asset impairment	—			587
	Deferred compensation and other charges	—			448
	Subtotal — ClearPoint (non-cash charges):	—			1,035
	Other
	Stock-based compensation vesting	57			195
	Impairment of fixed assets and leasehold improvements	531			4,006
	Subtotal — Other (non-cash charges)	588			4,201
	Total — Non-Cash Charges:	$	588		$	12,491
	Restructuring expenses — Total:	$	4,744		$	50,830
	The following table summarizes the changes in the Company’s liability related to the restructurings for the nine months ended September 30, 2013:
	(In thousands of dollars)
	Balance — January 1, 2013	$	—
	Restructuring expense	50,830
	Plus: Deferred rent obligation, prior to restructuring	2,160
	Less: Non-cash charges	(12,491		)
	Payment for lease termination — Company headquarters	(19,500		)
	Payments for severance and other compensation	(11,715		)
	Payments for third party vendor contracts and other costs	(3,000		)
	Payments for lease commitments, net of sublease income	(1,331		)
	Restructuring reserve — September 30, 2013	$	4,953
	As previously mentioned, on September 27, 2013, the Company entered into an agreement terminating the lease for its headquarters at 1290 Avenue of the Americas, New York, New York.  The Company’s total termination obligation was $19.5 million, satisfied by a cash payment of approximately $15.6 million and retention by the landlord of approximately $3.9 million previously deposited by the Company with the landlord as security under the lease.  Refer to Note 15 “Leases” herein for additional information.
	The Company’s remaining obligation associated with these exits at September 30, 2013 was approximately $5.0 million and was primarily related to costs associated with the termination of third party vendor contracts, and to a lesser extent, lease commitments.  The Company expects the majority of its remaining liability to be settled within the next twelve months.  No other material charges are expected to be incurred.

Discontinued_Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2013
Discontinued Operations	'
Discontinued Operations	'
	21.                     Discontinued Operations
	As previously disclosed, during the second quarter of 2013, the Board of Directors of the Company approved plans to discontinue its Investment Banking and Fixed Income businesses (MBS & Rates revenue includes losses incurred in connection with the wind down of the division’s financial instruments owned).  In addition, during the first quarter of 2013, substantially all of ClearPoint’s assets were sold to Homeward (resulting in a loss of approximately $1.1 million).  As a result of these exits, the results of these businesses have been classified as discontinued operations.
	Amounts reflected in the Consolidated Statements of Operations for the three and nine months ended September 30, 2013 and 2012 related to these discontinued operations are presented in the following table.
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Net revenue
	Investment Banking	$	—		$	1,499		$	15,034		$	14,762
	MBS & Rates	(68		)	8,943			(4,412		)	34,556
	Credit Products	485			18,804			13,049			58,393
	ClearPoint	—			12,899			4,355			39,760
	Equities division	—			11			76			54
	Other items reclassified from continuing operations (Note 1)	2			799			572			4,381
	Total net revenue	419			42,955			28,674			151,906
	Total expenses (excluding restructuring expense)
	Investment Banking	257			1,756			12,863			12,245
	MBS & Rates	321			7,129			10,823			29,000
	Credit Products	204			14,865			14,413			53,857
	ClearPoint	63			13,423			6,499			45,638
	Equities division	68			(22		)	187			(125		)
	Other items reclassified from continuing operations (Note 1)	490			3,127			5,103			31,076
	Total expenses (excluding restructuring expense)	1,403			40,278			49,888			171,691
	(Loss)/income from discontinued operations before income taxes (excluding restructuring expense)
	Investment Banking	(257		)	(257		)	2,171			2,517
	MBS & Rates	(389		)	1,814			(15,235		)	5,556
	Credit Products	281			3,939			(1,364		)	4,536
	ClearPoint	(63		)	(524		)	(2,144		)	(5,878		)
	Equities division	(68		)	33			(111		)	179
	Other items reclassified from continuing operations	(488		)	(2,328		)	(4,531		)	(26,695		)
	Subtotal	(984		)	2,677			(21,214		)	(19,785		)
	Restructuring expense (Note 20)	(4,744		)	—			(50,830		)	—
	(Loss)/income from discontinued operations before income taxes	(5,728		)	2,677			(72,044		)	(19,785		)
	Income tax expense	—			—			—			1,802
	(Loss)/income from discontinued operations, net of taxes	$	(5,728	)	$	2,677		$	(72,044	)	$	(21,587	)

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value of Financial Instruments	'
Fair Value of Financial Instruments	'
	22.                     Fair Value of Financial Instruments
	All of the financial instruments of the Company are reported on the Consolidated Statements of Financial Condition at market or fair value, or at carrying amounts that approximate fair value, because of their short term nature.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions	'
Related Party Transactions	'
	23.                     Related Party Transactions
	Capstone — May 2013
	On May 31, 2013, the Board of Directors appointed Christopher J. Kearns of Capstone as the Company’s Chief Restructuring Officer and Chief Executive Officer, and the Company entered into an agreement with Capstone (and Mr. Kearns) for various services.  During the three and nine months ended September 30, 2013, the Company incurred approximately $0.9 million and $1.6 million, respectively in connection with this agreement.
	RangeMark Acquisition — November 2012
	In connection with the Company’s acquisition of certain assets and assumption of certain liabilities of RangeMark on November 7, 2012, the Company agreed to pay to the selling parties $2.5 million of purchase consideration, payable in four installments commencing on September 30, 2013 through March 31, 2015.  In connection with the Company’s exit from its Fixed Income businesses, during the second quarter of 2013, the Company exercised its right to transfer ownership of software-related intellectual property assets back to RangeMark, and was released of its payment and other obligations.
	Gleacher Acquisition — June 2009
	During the third quarter of 2009, the Company received a Notice of Proposed Tax Adjustments from the New York City Department of Finance for underpayment by Gleacher Partners, LLC of Unincorporated Business Tax.  The Company has an off-setting claim against former pre-acquisition Gleacher stockholders for any pre-acquisition tax liabilities, which is partially collateralized by shares of its common stock held in an escrow account that was established at the closing of the Company’s acquisition of Gleacher Partners, Inc. to satisfy any indemnification obligations.  The Company does not believe, in any event, that the open tax years or other pre-acquisition tax matters will have a material adverse effect on its financial position or results of operations.  The Company’s receivable for this indemnification claim at September 30, 2013 and December 31, 2012 was $1.5 million.
	In connection with the acquisition of Gleacher Partners, Inc., the Company agreed to pay $10 million to the selling parties over five years after closing the transaction, subject to acceleration under certain circumstances.  During the year ended December 31, 2012, the Company paid $4.4 million of this obligation ($4.9 million was paid during the year ended December 31, 2010 and no payments were made during the year ended December 31, 2011).  The Company’s remaining obligation is recorded as a liability within the Company’s Consolidated Statements of Financial Condition.
	Details on the amounts receivable from or payable to related parties are below:
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Receivables from related parties
	Former stockholders of Gleacher Partners, Inc.	$	1,546	$	1,474
	Payables to related parties
	Former owners of RangeMark	$	—	$	2,350
	Former stockholders of Gleacher Partners, Inc.	594		594
	Capstone	431		—
	Payables to related parties - total	$	1,025	$	2,944
	Other Matters
	During the three months ended September 30, 2013, the Company reimbursed MatlinPatterson for approximately $1.1 million for costs incurred in connection with the preparation, distribution and solicitation of their proxy materials associated with the Company’s 2013 Annual Meeting of Stockholders.  This request for reimbursement was evaluated by the Company’s Audit Committee and approved on August 2, 2013.  In doing so, the Audit Committee determined that under the circumstances:  (i) the amount of reimbursement sought by MatlinPatterson was reasonably incurred; (ii) such amount was not disproportionate to, and was justified by, the benefit received by the Company and its stockholders as a result of MatlinPatterson’s actions; and (iii) in its good faith judgment, reimbursement by the Company of the specific expenses would be in, or would not be inconsistent with, the best interests of the Company and its stockholders.  In making such determinations, the Audit Committee considered, among other things, the fact that the Company’s former Committee on Directors and Corporate Governance had made no nominations of its own, that four members of that committee had stated, and later confirmed, that such members would not stand for reelection when their respective terms of office expired at the 2013 Annual Meeting of Stockholders, and that a fifth incumbent director, the Company’s then-Chief Executive Officer, had waived his right to be nominated for reelection to the Board.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events	'
Subsequent Events	'
	24.                     Subsequent Events
	The Company evaluated subsequent events through the date of issuance of the accompanying consolidated financial statements.  There were no events requiring disclosure, other than the matters previously described herein and below.
	Sublease
	On October 14, 2013, the Company entered into a sublease with Capstone, which commences on November 15, 2013 and initially provides for monthly base rental payments of approximately $12,000, based upon the Company’s current space needs.  This arrangement provides the Company with flexibility and at a cost that is below other market comparable alternatives.  This sublease was evaluated by the Company’s Audit Committee and approved on October 10, 2013, since this is a related-party transaction.  The sublease continues on a month-to-month basis and provides the Company with the ability to reduce its occupied space upon not less than 30 days notice to Capstone.  Any such reduction would reduce the monthly base rental payments based upon pre-determined rates.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2013
Basis of Presentation	'
Organization and Nature of Business	'
	Organization and Nature of Business
	Gleacher & Company, Inc. (the “Parent” and together with its subsidiaries, the “Company”) is incorporated under the laws of the State of Delaware.  The Company’s common stock is traded on The NASDAQ Global Market (“NASDAQ”) under the symbol “GLCH.”
	As a result of the factors described below, the Company has no meaningful revenue-producing operations.  Historically, the Company has operated an investment banking business, predominately fixed-income sales and trading and financial advisory services, through three principal business units:  Investment Banking, MBS & Rates and Credit Products.  The Company also engaged in residential mortgage lending operations through ClearPoint Funding, Inc. (“ClearPoint”) until this business was discontinued, and the business sold to Homeward Residential, Inc. (“Homeward”), in February 2013 (the “Homeward Transaction”).
	The Company has disclosed, in previous filings with the U.S. Securities and Exchange Commission (the “SEC”), various uncertainties that had adversely impacted counterparty relationships, employee turnover and operating results.  Those factors impacted the overall stability of the Company’s platform.  During the second quarter of 2013, the Company’s Board of Directors approved plans to discontinue operations in its MBS & Rates (including RangeMark Financial Services (“RangeMark”)) and Credit Products divisions (together, “Fixed Income” or the “Fixed Income businesses”) as well as, later in the quarter, its Investment Banking division.  Exiting these businesses impacted approximately 150 employees.  As of November 7, 2013, the Company had approximately 20 employees.  Refer to Notes 20 and 21 herein for additional information.
	The Company is evaluating several strategic alternatives in order to preserve and maximize stockholder value.  These include:
	·                  pursuing a strategic transaction with a third party, such as a merger or sale of the Company;
	·                  reinvesting the Company’s liquid assets in favorable opportunities; and
	·                  winding down the Company’s remaining operations and distributing its net assets, after making appropriate reserves, to its stockholders.
	The Company does not believe that discontinuing the businesses referenced above will have a significant near-term impact on its liquidity.  The Company’s liquidity needs will depend to a large extent on decisions it makes regarding the alternatives described above and its future business operations, generally.  The Company’s available liquidity, which consists primarily of cash, is currently anticipated to be sufficient to meet its ongoing financial obligations for a reasonable period of time.
Reclassification	'
	Reclassifications
	Certain amounts in prior periods have been reclassified to conform to the current year presentation with no impact to previously reported net loss or stockholders’ equity.  This includes the prior period results of the Investment Banking, MBS & Rates and Credit Products divisions, which are now being reported as discontinued operations, as well as the results of ClearPoint, which was discontinued in the first quarter of 2013.  Refer to Notes 20 and 21 herein for additional information.  Certain items which have previously been reported within the Company’s Other segment have been reclassified as discontinued operations, as follows:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Items reclassified as discontinued operations
	Revenue
	Net interest income	$	2		$	799		$	572		$	4,381
	Expenses
	Compensation expense	347			1,985			2,733			6,220
	Professional fees	7			263			190			1,422
	Occupancy expense	23			501			1,451			1,143
	Goodwill and intangible asset impairment	—			—			—		-1	21,096
	Communications and data processing	17			169			355			527
	Other	96			209			374			668
	Total expenses:	490			3,127			5,103			31,076
	Net items reclassified to discontinued operations	$	(488	)	$	(2,328	)	$	(4,531	)	$	(26,695	)
	(1) Impairment of intangible assets of $3.9 million for the nine months ended September 30, 2013, recognized in connection with the Company’s exits from Investment Banking, Fixed Income and ClearPoint is recorded as restructuring expense and included within discontinued operations (Note 20 and Note 21).
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”).  Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists.  The objective of ASU 2013-11 is to eliminate diversity in practice.  ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward except as follows.  To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes would result from the disallowance of tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets.  This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013.  The Company does not expect the adoption of ASU 2013-11 to have a material impact on the Company’s consolidated financial statements.
	In April 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-07 “Presentation of Financial Statements (Topic 205)” (“ASU 2013-07”).  The objective of ASU 2013-07 is to clarify when an entity should apply the liquidation basis of accounting.  In addition, the guidance provides principles for recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation basis of accounting.  ASU 2013-07 requires an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent.  Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy).  ASU 2013-07 requires financial statements prepared using the liquidation basis of accounting to present relevant information about the entity’s expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation.  The entity should include in its presentation of assets any items it had not previously recognized under GAAP but that it expects to either sell in liquidation or use in settling liabilities.  An entity should recognize and measure its liabilities in accordance with GAAP that otherwise applies to those liabilities.  The entity should not anticipate that it will be legally released from being the primary obligor under those liabilities, either judicially or by creditor(s).  The entity is also required to accrue and separately present the costs that it expects to incur and the income it expects to earn during the expected duration of the liquidation, including any costs associated with sale or settlement of those assets and liabilities.  ASU 2013-07 also requires disclosure about an entity’s plan for liquidation, the methods and significant assumptions used to measure assets and liabilities, the type and amount of costs and income accrued, and the expected during of the liquidation process.  This guidance is effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein.  Entities should apply the requirements prospectively from the day that liquidation becomes imminent.  Early adoption is permitted.  The adoption of ASU 2013-07 did not affect the Company’s financial statements, as liquidation is not imminent.  Refer to “Organization and Nature of Business” above, for additional information.
	In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02 “Other Comprehensive Income — Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”).  The objective of ASU 2013-02 is to improve the reporting of reclassifications out of accumulated other comprehensive income.  This ASU seeks to attain that objective by requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income.  For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts.  This guidance is effective prospectively for reporting periods beginning after December 15, 2012.  ASU 2013-02 is not applicable to the Company as it has no items reported as other comprehensive income.
	In January 2013, the FASB issued ASU No. 2013-01 “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”).  The main objective of ASU 2013-01 is to address implementation issues about the scope of ASU No. 2011-11 “Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”), which requires new disclosures about balance sheet offsetting and related arrangements.  For derivative financial assets and liabilities, the amendments require disclosure of gross asset and liability amounts, amounts offset on the balance sheet, and amounts subject to offsetting requirements but not offset in the balance sheet.  ASU 2013-01 clarifies that the scope of ASU 2011-11 applies to derivatives, including embedded bifurcated derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset in accordance with applicable accounting literature or subject to an enforceable master netting arrangement or similar agreement.  This guidance is effective for annual reporting periods beginning on or after January 1, 2013 and is to be applied retrospectively.  This guidance does not amend the existing guidance on when it is appropriate to offset, and since these amended principles require only additional disclosures, the adoption of ASU 2011-11 did not affect the Company’s financial condition, results of operations or cash flows.

Basis_of_Presentation_Tables

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2013
Basis of Presentation	'
Schedule of certain items reclassified as discontinued operations	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Items reclassified as discontinued operations
	Revenue
	Net interest income	$	2		$	799		$	572		$	4,381
	Expenses
	Compensation expense	347			1,985			2,733			6,220
	Professional fees	7			263			190			1,422
	Occupancy expense	23			501			1,451			1,143
	Goodwill and intangible asset impairment	—			—			—		-1	21,096
	Communications and data processing	17			169			355			527
	Other	96			209			374			668
	Total expenses:	490			3,127			5,103			31,076
	Net items reclassified to discontinued operations	$	(488	)	$	(2,328	)	$	(4,531	)	$	(26,695	)
	(1) Impairment of intangible assets of $3.9 million for the nine months ended September 30, 2013, recognized in connection with the Company’s exits from Investment Banking, Fixed Income and ClearPoint is recorded as restructuring expense and included within discontinued operations (Note 20 and Note 21).

LossEarnings_Per_Common_Share_

(Loss)/Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2013
(Loss)/Earnings Per Common Share	'
Schedule of weighted average shares outstanding	'
		Three Months Ended		Nine Months Ended
		September 30,		September 30,
	(In thousands of shares)	2013	2012	2013	2012
	Weighted average shares for basic loss per share	6,187	5,935	6,098	5,948
	Effect of dilutive common share equivalents	—	—	—	—
	Weighted average shares and dilutive common share equivalents for dilutive loss per share	6,187	5,935	6,098	5,948

Resale_and_Repurchase_Agreemen1

Resale and Repurchase Agreements (Tables)	9 Months Ended
	Sep. 30, 2013
Resale and Repurchase Agreements	'
Schedule of gross and net information about the Company's resale and repurchase agreements that are offset in the financial statements	'
				September 30, 2013									December 31, 2012
	(in thousands of dollars)			Gross						Net			Gross						Net
	Asset / Liability	Collateral Type		Amounts			Netting			Amounts			Amounts			Netting			Amounts
	Resale agreements	U.S. government and federal agency obligations		$	—		$	—		$	—		$	238,014		$	(238,014	)	$	—
	Repurchase agreements	U.S. government and federal agency obligations		$	—		$	—		$	—		$	397,400		$	(238,014	)	$	159,386
Schedule of maturity composition of the outstanding repurchase agreements	'
		December 31, 2012
	(In thousands of dollars)	Overnight			< 30 days			30-90 days			> 90 days			On			Total,
														Demand			net
	Collateral Type
	U.S. government and federal agency obligations	$	106,991		$	50,052		$	—		$	—		$	2,343		$	159,386

Receivables_from_and_Payables_2

Receivables from and Payables to Brokers, Dealers, and Clearing Organizations (Tables)	9 Months Ended
	Sep. 30, 2013
Receivables from and Payables to Brokers, Dealers, and Clearing Organizations	'
Schedule of amounts receivable from and payable to brokers, dealers and clearing organizations	'
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Deposits with clearing organizations	$	7,056	$	9,566
	Receivable from clearing organizations	2,131		2,001
	Receivable for unsettled trading activities	—		237
	Underwriting and syndicate fees receivable	—		1,020
	Total receivables	$	9,187	$	12,824
	Payable to clearing organizations	—		638,009
	Payable for unsettled trading activities	—		—
	Total payables	$	—	$	638,009

Receivables_from_and_Payables_3

Receivables from and Payables to Others (Tables)	9 Months Ended
	Sep. 30, 2013
Receivables from and Payables to Others	'
Schedule of amount receivable from and payable to others	'
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Loan receivable	$	300	$	600
	Management fees receivable	176		189
	Loans and advances	126		234
	Receivable from Homeward — transition services	46		—
	Principal paydowns — Agency mortgage-backed securities	—		5,744
	Interest receivable	—		4,370
	Others	401		1,426
	Total receivables from others	$	1,049	$	12,563
	Payable to former employees - Employee Investment Funds (Refer to Note 10)	$	1,001	$	941
	Draft payables	1,191		133
	Others	541		1,177
	Total payables to others	$	2,733	$	2,251

Financial_Instruments_Tables

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Financial Instruments	'
Schedule of Disclosure About Significant Unobservable Inputs	'
	Valuation Technique	Unobservable Input		Range (Weighted Average)
	Market comparable companies	Enterprise value/Revenue multiple		2.7x — 6.7x (5.4x)
		Discount applied to multiples		30.0% - 35.0% (31.0%)
Schedule of categorization of the financial instruments within the fair value hierarchy	'
		Assets at Fair Value
	(In thousands of dollars)	Level 1			Level 2			Level 3		Total
	Financial instruments owned
	Agency mortgage-backed securities	$	—		$	903,928		$	1,110	$	905,038
	Loans	—			77,573			—		77,573
	Federal agency obligations	—			46,021			—		46,021
	Corporate debt securities	—			30,246			—		30,246
	Residential mortgage-backed securities	—			23,077			149		23,226
	Commercial mortgage-backed securities	—			4,880			18		4,898
	Preferred stock	2,439			—			—		2,439
	U.S. government obligations	1,996			100			—		2,096
	Other debt obligations	—			2,074			—		2,074
	Equity securities	675			—			28		703
	Collateralized debt obligations	—			—			671		671
	Derivatives	232			—			964		1,196
	Total financial instruments owned, at fair value	5,342			1,087,899			2,940		1,096,181
	Investments	—			—			20,478		20,478
	Total	$	5,342		$	1,087,899		$	23,418	$	1,116,659
		Liabilities at Fair Value
	(In thousands of dollars)	Level 1			Level 2			Level 3		Total
	Securities sold, but not yet purchased
	U.S. Government obligations	$	128,504		$	—		$	—	$	128,504
	Corporate debt securities	—			2,520			—		2,520
	Equity securities	2			—			—		2
	Derivatives	1,704			—			—		1,704
	Total financial liabilities, at fair value	$	130,210		$	2,520		$	—	$	132,730
Schedule of changes in the company's Level 3 financial instruments	'
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the three months ended September 30, 2013:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		June 30,			(losses)											and/or out of			September 30,		unrealized
		2013			(realized and											Level 3			2013		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
	Investments	$	20,995		$	92		$	—	$	—		$	(3,203	)	$	—		$	17,884	$	(1,326	)
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the three months ended September 30, 2012:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		June 30,			(losses)											and/or out of			September 30,		unrealized
		2012			(realized and											Level 3			2012		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
	Commercial mortgage-backed securities	$	5,682		$	(424	)	$	133	$	(1,568	)	$	(4	)	$	—		$	3,819	$	(380	)
	Residential mortgage-backed securities	10,355			331			12,700		(11,482		)	(623		)	—			11,281		37
	Other debt obligations	2,553			20			11,362		(3,420		)	(28		)	—			10,487		3
	Agency mortgage-backed securities	1,486			(80		)	3		(1,401		)	—			—			8		35
	Collateralized debt obligations	554			(3		)	—		—			—			—			551		234
	Equities	112			(14		)	—		—			—			—			98		(14		)
	Investments	19,090			163			—		—			—			—			19,253		32
	Derivatives	1,737			2,953			—		—			(1,737		)	—			2,953		2,953
	Total	$	41,569		$	2,946		$	24,198	$	(17,871	)	$	(2,392	)	$	—		$	48,450	$	2,900
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the nine months ended September 30, 2013:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		December 31,			(losses)											and/or out of			September		unrealized
		2012			(realized and											Level 3			30, 2013		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
	Agency mortgage-backed securities	$	1,110		$	(50	)	$	—	$	(1,060	)	$	—		$	—		$	—	$	—
	Collateralized debt obligations	671			(567		)	—		(104		)	—			—			—		—
	Residential mortgage-backed securities	149			(86		)	—		(51		)	(12		)	—			—		—
	Equities	28			(28		)	—		—			—			—			—		—
	Commercial mortgage-backed securities	18			(15		)	—		(3		)	—			—			—		—
	Investments	20,478			(338		)	947		—			(3,203		)	—			17,884		(1,670		)
	Derivatives	964			—			—		—			(964		)	—			—		—
	Total	$	23,418		$	(1,084	)	$	947	$	(1,218	)	$	(4,179	)	$	—		$	17,884	$	(1,670	)
	The following table summarizes the changes in the Company’s Level 3 financial instruments for the nine months ended September 30, 2012:
	(In thousands of dollars)	Balance at			Total gains or			Purchases		Sales			Settlements			Transfers in			Balance at		Changes in
		December 31,			(losses)											and/or out of			September		unrealized
		2011			(realized and											Level 3(1)			30, 2012		gains/(losses)
					unrealized)																on Level 3
																					assets still
																					held at the
																					reporting date
	Commercial mortgage-backed securities	$	38,154		$	(6,497	)	$	7,383	$	(33,058	)	$	(62	)	$	(2,101	)	$	3,819	$	(1,322	)
	Residential mortgage-backed securities	18,419			(555		)	11,680		(17,329		)	(934		)	—			11,281		12
	Other debt obligations	192			10			16,153		(5,848		)	(20		)	—			10,487		(1		)
	Agency mortgage-backed securities	1,367			(140		)	15		(1,232		)	(2		)	—			8		4
	Collateralized debt obligations	647			(96		)	60		(60		)	—			—			551		(93		)
	Equities	112			(14		)	—		—			—			—			98		(14		)
	Preferred stock	571			188			5,624		(6,383		)	—			—			—		—
	Investments	18,310			156			800		—			(13		)	—			19,253		210
	Derivatives	1,696			5,575			—		—			(4,318		)	—			2,953		2,953
	Total	$	79,468		$	(1,373	)	$	41,715	$	(63,910	)	$	(5,349	)	$	(2,101	)	$	48,450	$	1,749
	(1)         During the nine months ended September 30, 2012, the Company transferred approximately $2.1 million of commercial mortgage backed securities from Level 3 to Level 2 due to price discovery resulting from Company trading activity occurring in close proximity to the respective quarter-end.

Derivatives_Tables

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2013
Derivatives	'
Schedule of company's derivative instruments	'
		September 30, 2013					December 31, 2012
	(In thousands of dollars)	Number	Notional		Fair Value		Number	Notional		Fair
		of					of			Value
		Contracts					Contracts
	Purchase Contracts
	TBA purchase agreements	—	$	—	$	—	19	$	202,646	$	54
	IRLCs	—	—		—		512	100,079		964
	Total	—	$	—	$	—	531	$	302,725	$	1,018
	Sale Contracts
	TBA sale agreements	—	$	—	$	—	27	$	708,076	$	(1,511	)
	Eurodollar futures contracts	—	—		—		268	268,000		(15		)
	Total	—	$	—	$	—	295	$	976,076	$	(1,526	)

Investments_Tables

Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Investments	'
Schedule of fair value information regarding investments	'
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Investment in FATV(1)	$	14,918		$	17,110
	Employee Investment Funds, net of Company’s ownership interest	1,366			1,218
	Other investments	1,600			2,150
	Total Investments	$	17,884		$	20,478
	(1) Excludes the Company’s share of carried interest in FATV of approximately $2.3 million and $1.6 million at September 30, 2013 and December 31, 2012, which is unrecognized as collection is not reasonably assured.
Schedule of investment gains and losses	'
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
	(In thousands of dollars)	2013			2012		2013			2012
	Investment in FATV	$	1,043		$	137	$	1,126		$	167
	Employee Investment Funds	20			26		33			(11		)
	Other investments	(971		)	—		(1,497		)	—
	Total investment gains/(losses)	$	92		$	163	$	(338	)	$	156

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets	'
Schedule of goodwill	'
	(In thousands of dollars)
	Goodwill — RangeMark acquisition
	Balance at December 31, 2012	$	1,212
	- Impairment — second quarter of 2013	(1,212		)
	Balance at September 30, 2013	$	—
Schedule of intangible assets	'
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Intangible assets (amortizable):
	MBS & Rates segment — Customer relationships
	Gross carrying amount	$	641		$	641
	Accumulated amortization	(476		)	(463		)
	Impairment of intangible asset — second quarter of 2013	(165		)	—
	Net carrying amount	—			178
	RangeMark — Intellectual Property
	Gross carrying amount	1,050			1,050
	Accumulated amortization	(87		)	(35		)
	Impairment of intangible asset — second quarter of 2013	(963		)	—
	Net carrying amount	—			1,015
	RangeMark — Trade Name
	Gross carrying amount	480			480
	Accumulated amortization	(20		)	(8		)
	Impairment of intangible asset — second quarter of 2013	(460		)	—
	Net carrying amount	—			472
	Credit Products segment - Customer relationships
	Gross carrying amount	795			795
	Accumulated amortization	(795		)	(768		)
	Net carrying amount	—			27
	Investment Banking segment — Trade name
	Gross carrying amount	4,066			4,066
	Accumulated amortization	(1,134		)	(1,057		)
	Impairment of intangible asset — second quarter of 2013	(2,932		)	—
	Net carrying amount	—			3,009
	ClearPoint segment — Customer relationships
	Gross carrying amount	803			803
	Accumulated amortization	(216		)	(201		)
	Impairment of intangible asset — first quarter of 2013	(587		)	—
	Net carrying amount	—			602
	Total intangible assets	$	—		$	5,303

Office_Equipment_and_Leasehold1

Office Equipment and Leasehold Improvements (Tables)	9 Months Ended
	Sep. 30, 2013
Office Equipment and Leasehold Improvements	'
Schedule of office equipment and leasehold improvements	'
	(In thousands of dollars)	September 30,			December 31,
		2013			2012
	Communications and data processing equipment	$	280		$	5,149
	Furniture and fixtures	55			3,334
	Leasehold improvements	—			1,802
	Software	61			850
	Total	396			11,135
	Less: accumulated depreciation and amortization	(210		)	(5,824		)
	Total office equipment and leasehold improvements, net	$	186		$	5,311

Other_Assets_Tables

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Other Assets	'
Schedule of other assets	'
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Prepaid expenses	$	2,909	$	2,761
	Collateral deposits	1,086		5,165
	Other	466		1,104
	Total other assets	$	4,461	$	9,030

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies	'
Schedule of future minimum annual lease payments, and sublease rental income	'
	(In thousands of dollars)	Future		Sublease		Net Lease
		Minimum		Rental		Payments
		Lease		Income
		Payments
	2013 (remaining)	$	565	$	349	$	216
	2014	1,505		974		531
	2015	730		530		200
	Total	$	2,800	$	1,853	$	947

StockBased_Compensation_Plans_

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation Plans	'
Schedule of stock-based compensation expense related to various employee and non-employee director stock-based incentive plans	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Continuing operations	$	74		$	803		$	1,392		$	2,356
	Discontinued operations	(8		)	(760		)	4,491			2,182
	Total	$	66	-1	$	43		$	5,883	-1	$	4,538
	(1) Includes stock-based compensation for the three and nine months ended September 30, 2013 of $0.1 million and $4.1 million, respectively, associated with the vesting of 3,000 and 267,000 shares, respectively, in connection with the Company’s previously disclosed restructurings (Refer to Note 1 herein).

Restructuring_Tables

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2013
Restructuring	'
Summary of restructuring charges	'
		Three Months			Nine Months
		Ended			Ended
	(In thousands of dollars)	September 30,			September 30,
		2013			2013
	Cash Charges:
	Investment Banking
	Severance compensation	$	—		$	1,417
	Third party vendor contracts and other costs	70			332
	Subtotal — Investment Banking (cash charges):	70			1,749
	Fixed Income businesses
	Severance compensation	262			8,323
	Third party vendor contracts and other costs	491			6,134
	Subtotal — Fixed Income (cash charges):	753			14,457
	ClearPoint
	Severance and other compensation	—			1,263
	Third party vendor contracts and other costs	88			201
	Subtotal — ClearPoint (cash charges):	88			1,464
	Other
	Severance compensation	43			712
	Reserve for lease commitments	3,202			19,957
	Subtotal — Other (cash charges):	3,245			20,669
	Total — Cash Charges:	$	4,156		$	38,339
	Non-Cash Charges:
	Investment Banking
	Intangible asset impairment	$	—		$	2,932
	Stock-based compensation vesting	—			254
	Subtotal — Investment Banking (non-cash charges):	—			3,186
	Fixed Income businesses
	Goodwill & intangible asset impairment	—			388
	Stock-based compensation vesting	—			3,681
	Subtotal — Fixed Income (non-cash charges):	—			4,069
	ClearPoint
	Intangible asset impairment	—			587
	Deferred compensation and other charges	—			448
	Subtotal — ClearPoint (non-cash charges):	—			1,035
	Other
	Stock-based compensation vesting	57			195
	Impairment of fixed assets and leasehold improvements	531			4,006
	Subtotal — Other (non-cash charges)	588			4,201
	Total — Non-Cash Charges:	$	588		$	12,491
	Restructuring expenses — Total:	$	4,744		$	50,830
Schedule of changes in the company's liability related to restructuring	'
	(In thousands of dollars)
	Balance — January 1, 2013	$	—
	Restructuring expense	50,830
	Plus: Deferred rent obligation, prior to restructuring	2,160
	Less: Non-cash charges	(12,491		)
	Payment for lease termination — Company headquarters	(19,500		)
	Payments for severance and other compensation	(11,715		)
	Payments for third party vendor contracts and other costs	(3,000		)
	Payments for lease commitments, net of sublease income	(1,331		)
	Restructuring reserve — September 30, 2013	$	4,953

Discontinued_Operations_Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations	'
Schedule of amounts reflected in the Consolidated Statements of Operations related to discontinued operations	'
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands of dollars)	2013			2012			2013			2012
	Net revenue
	Investment Banking	$	—		$	1,499		$	15,034		$	14,762
	MBS & Rates	(68		)	8,943			(4,412		)	34,556
	Credit Products	485			18,804			13,049			58,393
	ClearPoint	—			12,899			4,355			39,760
	Equities division	—			11			76			54
	Other items reclassified from continuing operations (Note 1)	2			799			572			4,381
	Total net revenue	419			42,955			28,674			151,906
	Total expenses (excluding restructuring expense)
	Investment Banking	257			1,756			12,863			12,245
	MBS & Rates	321			7,129			10,823			29,000
	Credit Products	204			14,865			14,413			53,857
	ClearPoint	63			13,423			6,499			45,638
	Equities division	68			(22		)	187			(125		)
	Other items reclassified from continuing operations (Note 1)	490			3,127			5,103			31,076
	Total expenses (excluding restructuring expense)	1,403			40,278			49,888			171,691
	(Loss)/income from discontinued operations before income taxes (excluding restructuring expense)
	Investment Banking	(257		)	(257		)	2,171			2,517
	MBS & Rates	(389		)	1,814			(15,235		)	5,556
	Credit Products	281			3,939			(1,364		)	4,536
	ClearPoint	(63		)	(524		)	(2,144		)	(5,878		)
	Equities division	(68		)	33			(111		)	179
	Other items reclassified from continuing operations	(488		)	(2,328		)	(4,531		)	(26,695		)
	Subtotal	(984		)	2,677			(21,214		)	(19,785		)
	Restructuring expense (Note 20)	(4,744		)	—			(50,830		)	—
	(Loss)/income from discontinued operations before income taxes	(5,728		)	2,677			(72,044		)	(19,785		)
	Income tax expense	—			—			—			1,802
	(Loss)/income from discontinued operations, net of taxes	$	(5,728	)	$	2,677		$	(72,044	)	$	(21,587	)

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2013
Related Party Transactions	'
Schedule of amounts receivable from or payable to related parties	'
	(In thousands of dollars)	September 30,		December 31,
		2013		2012
	Receivables from related parties
	Former stockholders of Gleacher Partners, Inc.	$	1,546	$	1,474
	Payables to related parties
	Former owners of RangeMark	$	—	$	2,350
	Former stockholders of Gleacher Partners, Inc.	594		594
	Capstone	431		—
	Payables to related parties - total	$	1,025	$	2,944

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	0 Months Ended	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	30-May-13	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Nov. 07, 2013
			item		item		item
Basis of Presentation	'	'	'	'	'	'	'
Number of principal business units	'	'	'	'	3	'	'
Number of employees impacted	'	'	150	'	'	'	'
Number of employees	'	'	'	'	'	'	20
Expenses	'	'	'	'	'	'	'
Compensation expense	'	$2,876	'	$2,968	$7,516	$9,149	'
Professional fees	'	3,923	'	3,196	9,521	8,543	'
Occupancy expense	'	344	'	481	1,109	1,255	'
Goodwill and intangible asset impairment	'	'	'	'	3,969	21,096	'
Communications and data processing	'	280	'	480	974	1,525	'
Other	'	4,176	'	928	5,376	2,485	'
Total expenses	'	11,599	'	8,053	24,496	22,957	'
Restructuring expenses	'	4,744	'	'	50,830	'	'
Reverse stock split ratio	0.05	'	'	'	'	'	'
Other items reclassified from continuing operations	'	'	'	'	'	'	'
Revenue	'	'	'	'	'	'	'
Net interest income	'	2	'	799	572	4,381	'
Expenses	'	'	'	'	'	'	'
Compensation expense	'	347	'	1,985	2,733	6,220	'
Professional fees	'	7	'	263	190	1,422	'
Occupancy expense	'	23	'	501	1,451	1,143	'
Goodwill and intangible asset impairment	'	'	'	'	'	21,096	'
Communications and data processing	'	17	'	169	355	527	'
Other	'	96	'	209	374	668	'
Total expenses	'	490	'	3,127	5,103	31,076	'
Net items reclassified to discontinued operations	'	-488	'	-2,328	-4,531	-26,695	'
Other items reclassified from continuing operations | Intangible asset impairment	'	'	'	'	'	'	'
Expenses	'	'	'	'	'	'	'
Restructuring expenses	'	'	'	'	$3,900	'	'

LossEarnings_Per_Common_Share_1

(Loss)/Earnings Per Common Share (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
(Loss)/Earnings Per Common Share	'	'	'	'
Weighted average shares for basic loss per share	6,187,000	5,935,000	6,098,000	5,948,000
Weighted average shares and dilutive common share equivalents for dilutive loss per share	6,187,000	5,935,000	6,098,000	5,948,000
Stock options	'	'	'	'
(Loss)/Earnings Per Common Share	'	'	'	'
Anti-dilutive securities excluded from computation of dilutive earnings loss per share (in shares)	456,000	460,000	456,000	460,000
Restricted stock	'	'	'	'
(Loss)/Earnings Per Common Share	'	'	'	'
Anti-dilutive securities excluded from computation of dilutive earnings loss per share (in shares)	40,000	375,000	40,000	375,000
Restricted stock units (RSUs)	'	'	'	'
(Loss)/Earnings Per Common Share	'	'	'	'
Anti-dilutive securities excluded from computation of dilutive earnings loss per share (in shares)	21,000	165,000	21,000	165,000

Cash_and_Cash_Equivalents_Deta

Cash and Cash Equivalents (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Cash and Cash Equivalents	'	'
Cash equivalents	$3.30	$3.10
Approximate cash and cash equivalents held at one financial institution	$40.90	$21.80

Cash_and_Securities_Segregated1

Cash and Securities Segregated for Regulatory and Other Purposes (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2012	Sep. 30, 2013
In Millions, unless otherwise specified			ClearPoint	ClearPoint
				Homeward
Cash and Securities Segregated for Regulatory and Other Purposes	'	'	'	'
Cash segregated in special reserve bank account for exclusive benefit of customer	$1	$1	'	'
Cash on deposit in connection with ClearPoint's loan origination activities included in segregated cash	'	'	'	5
Period following the closing date for escrow account	'	'	'	'3 years
Cash received in connection with a working capital loan agreement included in segregated cash	'	'	$12	'

Resale_and_Repurchase_Agreemen2

Resale and Repurchase Agreements (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Resale agreements	'	'
Net Amounts	$0	'
Repurchase agreements	'	'
Net Amounts	0	159,386
U.S. government and federal agency obligations	'	'
Resale agreements	'	'
Gross Amounts	'	238,014
Netting	'	-238,014
Repurchase agreements	'	'
Gross Amounts	'	397,400
Netting	'	-238,014
Net Amounts	'	$159,386
Number of repurchase agreements	0	'

Resale_and_Repurchase_Agreemen3

Resale and Repurchase Agreements (Details 2) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Resale and Repurchase Agreements	'	'
Fair value of financial instruments held as collateral that the entity was permitted to deliver or repledge	'	$137,900,000
Details on the composition of the outstanding repurchase agreements	'	'
Carrying value of securities sold under agreements to repurchase	0	159,386,000
U.S. government and federal agency obligations	'	'
Details on the composition of the outstanding repurchase agreements	'	'
Carrying value of securities sold under agreements to repurchase	'	159,386,000
Overnight | U.S. government and federal agency obligations	'	'
Details on the composition of the outstanding repurchase agreements	'	'
Fair value of collateral held that has been repledged	'	106,991,000
Less than 30 days | U.S. government and federal agency obligations	'	'
Details on the composition of the outstanding repurchase agreements	'	'
Fair value of collateral held that has been repledged	'	50,052,000
On Demand | U.S. government and federal agency obligations	'	'
Details on the composition of the outstanding repurchase agreements	'	'
Fair value of collateral held that has been repledged	'	$2,343,000

Receivables_from_and_Payables_4

Receivables from and Payables to Brokers, Dealers, and Clearing Organizations (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Receivables from and Payables to Brokers, Dealers, and Clearing Organizations	'	'
Deposits with clearing organizations	$7,056,000	$9,566,000
Receivable from clearing organizations	2,131,000	2,001,000
Receivable for unsettled trading activities	'	237,000
Underwriting and syndicate fees receivable	'	1,020,000
Total receivables	9,187,000	12,824,000
Payable to clearing organizations	'	638,009,000
Total payables	'	638,009,000
Deposit with FICC	6,300,000	8,800,000
Excess equity held at the entity's principal clearing broker	'	$35,500,000

Receivables_from_and_Payables_5

Receivables from and Payables to Others (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Receivables from and Payables to Others	'	'
Loan receivable	$300	$600
Management fees receivable	176	189
Loans and advances	126	234
Receivable from Homeward - transition services	46	'
Principal paydowns - Agency mortgage-backed securities	'	5,744
Interest receivable	'	4,370
Others	401	1,426
Total receivables from others	1,049	12,563
Payable to former employees - Employee Investment Funds (Refer to Note 10)	1,001	941
Draft payables	1,191	133
Others	541	1,177
Total payables to others	$2,733	$2,251

Financial_Instruments_Details

Financial Instruments (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Level 1

Level 1

Investments

Investments

Investments

Investments

Investments

Investment in FATV

Investment in FATV

Investment in FATV

Level 3

Level 3

Level 3

Level 3

Level 3

Level 3

Market comparable companies

Market comparable companies

Market comparable companies

item

Minimum

Maximum

Weighted average

Disclosure About Significant Unobservable Inputs

'

'

'

'

'

'

'

'

'

'

'

'

Cash equivalents

'

'

$3,300,000

$3,100,000

'

'

'

'

'

'

'

'

Remaining financial instruments owned related to legacy deferred compensation plans

'

'

900,000

'

'

'

'

'

'

'

'

'

Investments

$17,884,000

$20,478,000

'

'

$17,900,000

$20,478,000

'

'

'

$14,918,000

$17,110,000

$14,900,000

Number of privately held companies

'

'

'

'

'

'

'

'

'

'

'

6

Enterprise value/Revenue multiple

'

'

'

'

'

'

2.7

6.7

5.4

'

'

'

Discount rate (as a percent)

'

'

'

'

'

'

30.00%

35.00%

31.00%

'

'

'

Financial_Instruments_Details_

Financial Instruments (Details 2) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	$883	$1,096,181
Investments	17,884	20,478
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	132,730
Level 1	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	5,342
Total	'	5,342
Liabilities at Fair Value	'	'
Total financial liabilities, at fair value	'	130,210
Level 1 | Preferred stock	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,439
Level 1 | U.S. government obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	1,996
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	128,504
Level 1 | Equity securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	675
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	2
Level 1 | Derivatives	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	232
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	1,704
Level 2	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	1,087,899
Total	'	1,087,899
Liabilities at Fair Value	'	'
Total financial liabilities, at fair value	'	2,520
Level 2 | Agency mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	903,928
Level 2 | Loans	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	77,573
Level 2 | Federal agency obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	46,021
Level 2 | Corporate debt securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	30,246
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	2,520
Level 2 | Residential mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	23,077
Level 2 | Commercial mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	4,880
Level 2 | U.S. government obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	100
Level 2 | Other debt obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,074
Level 3	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,940
Total	'	23,418
Level 3 | Agency mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	1,110
Level 3 | Residential mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	149
Level 3 | Commercial mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	18
Level 3 | Equity securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	28
Level 3 | Collateralized debt obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	671
Level 3 | Derivatives	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	964
Level 3 | Investments	'	'
Assets at Fair Value	'	'
Investments	17,900	20,478
Total	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	1,096,181
Total	'	1,116,659
Liabilities at Fair Value	'	'
Total financial liabilities, at fair value	'	132,730
Total | Agency mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	905,038
Total | Loans	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	77,573
Total | Federal agency obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	46,021
Total | Corporate debt securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	30,246
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	2,520
Total | Residential mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	23,226
Total | Commercial mortgage-backed securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	4,898
Total | Preferred stock	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,439
Total | U.S. government obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,096
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	128,504
Total | Other debt obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	2,074
Total | Equity securities	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	703
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	2
Total | Collateralized debt obligations	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	671
Total | Derivatives	'	'
Assets at Fair Value	'	'
Total financial instruments owned, at fair value	'	1,196
Liabilities at Fair Value	'	'
Securities sold, but not yet purchased	'	1,704
Total | Investments	'	'
Assets at Fair Value	'	'
Investments	'	$20,478

Financial_Instruments_Details_1

Financial Instruments (Details 3) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Financial Instruments	'	'	'	'
Transfers of assets between Level 1 to Level 2	$0	$0	$0	$0
Transfers of liabilities between Level 1 to Level 2	0	0	0	0
Transfers of assets between Level 2 to Level 1	0	0	0	0
Transfers of liabilities between Level 2 to Level 1	0	0	0	0
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	41,569	23,418	79,468
Total gains or (losses) (realized and unrealized)	'	2,946	-1,084	-1,373
Purchases	'	24,198	947	41,715
Sales	'	-17,871	-1,218	-63,910
Settlements	'	-2,392	-4,179	-5,349
Transfers in and/or out of Level 3	'	'	'	-2,101
Balance at the end of the period	17,884	48,450	17,884	48,450
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	2,900	-1,670	1,749
Agency mortgage-backed securities	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	1,486	1,110	1,367
Total gains or (losses) (realized and unrealized)	'	-80	-50	-140
Purchases	'	3	'	15
Sales	'	-1,401	-1,060	-1,232
Settlements	'	'	'	-2
Balance at the end of the period	'	8	'	8
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	35	'	4
Collateralized debt obligations	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	554	671	647
Total gains or (losses) (realized and unrealized)	'	-3	-567	-96
Purchases	'	'	'	60
Sales	'	'	-104	-60
Balance at the end of the period	'	551	'	551
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	234	'	-93
Residential mortgage-backed securities	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	10,355	149	18,419
Total gains or (losses) (realized and unrealized)	'	331	-86	-555
Purchases	'	12,700	'	11,680
Sales	'	-11,482	-51	-17,329
Settlements	'	-623	-12	-934
Balance at the end of the period	'	11,281	'	11,281
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	37	'	12
Equities	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	112	28	112
Total gains or (losses) (realized and unrealized)	'	-14	-28	-14
Balance at the end of the period	'	98	'	98
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	-14	'	-14
Commercial mortgage-backed securities	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	5,682	18	38,154
Total gains or (losses) (realized and unrealized)	'	-424	-15	-6,497
Purchases	'	133	'	7,383
Sales	'	-1,568	-3	-33,058
Settlements	'	-4	'	-62
Transfers in and/or out of Level 3	'	'	'	-2,101
Balance at the end of the period	'	3,819	'	3,819
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	-380	'	-1,322
Other debt obligations	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	2,553	'	192
Total gains or (losses) (realized and unrealized)	'	20	'	10
Purchases	'	11,362	'	16,153
Sales	'	-3,420	'	-5,848
Settlements	'	-28	'	-20
Balance at the end of the period	'	10,487	'	10,487
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	3	'	-1
Preferred stock	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	'	'	571
Total gains or (losses) (realized and unrealized)	'	'	'	188
Purchases	'	'	'	5,624
Sales	'	'	'	-6,383
Investments	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	20,995	19,090	20,478	18,310
Total gains or (losses) (realized and unrealized)	92	163	-338	156
Purchases	'	'	947	800
Settlements	-3,203	'	-3,203	-13
Balance at the end of the period	17,884	19,253	17,884	19,253
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	-1,326	32	-1,670	210
Derivatives	'	'	'	'
Changes in the company's Level 3 financial instruments	'	'	'	'
Balance at the beginning of the period	'	1,737	964	1,696
Total gains or (losses) (realized and unrealized)	'	2,953	'	5,575
Settlements	'	-1,737	-964	-4,318
Balance at the end of the period	'	2,953	'	2,953
Changes in unrealized gains/(losses) on Level 3 assets still held at the reporting date	'	$2,953	'	$2,953

Derivatives_Details

Derivatives (Details) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified	item
Purchase Contracts	'
Derivatives	'
Number of Contracts	531
Notional	$302,725
Fair Value	1,018
Purchase Contracts | TBA agreements	'
Derivatives	'
Number of Contracts	19
Notional	202,646
Fair Value	54
Purchase Contracts | IRLCs	'
Derivatives	'
Number of Contracts	512
Notional	100,079
Fair Value	964
Sale Contracts	'
Derivatives	'
Number of Contracts	295
Notional	976,076
Fair Value	-1,526
Sale Contracts | TBA agreements	'
Derivatives	'
Number of Contracts	27
Notional	708,076
Fair Value	-1,511
Sale Contracts | Eurodollar futures contracts	'
Derivatives	'
Number of Contracts	268
Notional	268,000
Fair Value	($15)

Investments_Details

Investments (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Investments	'	'	'	'	'
Fair value of investments	$17,884,000	'	$17,884,000	'	$20,478,000
Total investment gains/(losses)	92,000	163,000	-338,000	156,000	'
Unrecognized carried interest	2,300,000	'	2,300,000	'	1,600,000
Payable to former employees	1,001,000	'	1,001,000	'	941,000
Investment in FATV	'	'	'	'	'
Investments	'	'	'	'	'
Fair value of investments	14,918,000	'	14,918,000	'	17,110,000
Total investment gains/(losses)	1,043,000	137,000	1,126,000	167,000	'
Open commitments to fund portfolio	0	'	0	'	'
Total partnership capital	64,800,000	'	64,800,000	'	70,900,000
Share in management fee income	200,000	200,000	500,000	500,000	'
Employee Investment Funds, net of Company's ownership interest	'	'	'	'	'
Investments	'	'	'	'	'
Fair value of investments	1,366,000	'	1,366,000	'	1,218,000
Total investment gains/(losses)	20,000	26,000	33,000	-11,000	'
Payable to former employees	1,000,000	'	1,000,000	'	900,000
Other investments	'	'	'	'	'
Investments	'	'	'	'	'
Fair value of investments	1,600,000	'	1,600,000	'	2,150,000
Total investment gains/(losses)	($971,000)	'	($1,497,000)	'	'

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Changes in the carrying amount of goodwill	'	'
Goodwill at the beginning of the period	'	$1,212
Goodwill at the end of the period	'	1,212
RangeMark	'	'
Changes in the carrying amount of goodwill	'	'
Goodwill at the beginning of the period	'	1,212
Impairment	-1,212	'
Goodwill at the end of the period	'	$1,212

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)

Dec. 31, 2012

Jun. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Mar. 31, 2013

Sep. 30, 2013

Dec. 31, 2012

In Thousands, unless otherwise specified

Intellectual property

Intellectual property

Intellectual property

Trade name

Trade name

Trade name

MBS & Rates segment

MBS & Rates segment

MBS & Rates segment

Credit Products segment

Credit Products segment

Investment Banking segment

Investment Banking segment

Investment Banking segment

ClearPoint segment

ClearPoint segment

ClearPoint segment

RangeMark

RangeMark

RangeMark

RangeMark

RangeMark

RangeMark

Customer relationships

Customer relationships

Customer relationships

Customer relationships

Customer relationships

Trade name

Trade name

Trade name

Customer relationships

Customer relationships

Customer relationships

Intangible assets (amortizable):

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gross carrying amount

'

'

$1,050

$1,050

'

$480

$480

'

$641

$641

$795

$795

'

$4,066

$4,066

'

$803

$803

Accumulated amortization

'

'

-87

-35

'

-20

-8

'

-476

-463

-795

-768

'

-1,134

-1,057

'

-216

-201

Impairment of intangible asset

'

-963

'

'

-460

'

'

-165

'

'

'

'

-2,932

'

'

-587

'

'

Net carrying amount

$5,303

'

'

$1,015

'

'

$472

'

'

$178

'

$27

'

'

$3,009

'

'

$602

Office_Equipment_and_Leasehold2

Office Equipment and Leasehold Improvements (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012
Office equipment and leasehold improvements	'	'	'
Total	$396,000	'	$11,135,000
Less: accumulated depreciation and amortization	-210,000	'	-5,824,000
Total office equipment and leasehold improvements, net	186,000	'	5,311,000
Non-cash impairment charge related to office equipment and leasehold improvements of Investment Banking and Fixed Income businesses	500,000	3,500,000	'
Communications and data processing equipment	'	'	'
Office equipment and leasehold improvements	'	'	'
Total	280,000	'	5,149,000
Furniture and fixtures	'	'	'
Office equipment and leasehold improvements	'	'	'
Total	55,000	'	3,334,000
Leasehold improvements	'	'	'
Office equipment and leasehold improvements	'	'	'
Total	'	'	1,802,000
Software	'	'	'
Office equipment and leasehold improvements	'	'	'
Total	$61,000	'	$850,000

Other_Assets_Details

Other Assets (Details) (USD $)	Sep. 30, 2013	Sep. 27, 2013	Dec. 31, 2012
Other Assets	'	'	'
Prepaid expenses	$2,909,000	'	$2,761,000
Collateral deposits	1,086,000	'	5,165,000
Other	466,000	'	1,104,000
Total other assets	4,461,000	'	9,030,000
Deposit retained by landlord related to lease terminated	'	$3,900,000	'

Secured_Borrowings_Details

Secured Borrowings (Details) (ClearPoint, USD $)	Jun. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified		Credit facility
Secured Borrowings	'	'
Outstanding borrowings	'	$64.90
Amount of remaining exposure under the credit facilities	$0	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Feb. 14, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Oct. 17, 2013

Aug. 31, 2012

Sep. 30, 2012

Aug. 31, 2012

Sep. 17, 2013

Sep. 30, 2013

24-May-13

Sep. 30, 2013

ClearPoint

ClearPoint

ClearPoint

ClearPoint

ClearPoint

ClearPoint

Other employees

Other employees

Employment Agreements - Company's General Counsel and Secretary and its Controller

Settlement

Settlement

Senior Management Compensation and Retention Plan

Senior Management Compensation and Retention Plan

Senior Management Compensation and Retention Plan

Arbitration - Thomas Hughes and John Griff

Arbitration - Thomas Hughes and John Griff

Arbitration - Thomas Hughes and John Griff

Arbitration - Thomas Hughes and John Griff

item

Homeward

Homeward

General Counsel and Controller

Former employee

item

Former Chief Executive Officer and Former Chief Operating Officer

Change in control

Senior Management Compensation and Retention Plan

Senior Management Compensation and Retention Plan

Senior Management Compensation and Retention Plan

Senior Management Compensation and Retention Plan

item

Indemnification guaranties

Gleacher Securities

Chief Executive Officer and Chief Operating Officer

Chief Executive Officer and Chief Operating Officer

Change in control

Change in control

Chief Executive Officer and Chief Operating Officer

Chief Executive Officer and Chief Operating Officer

Commitments and contingencies

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of executive officers participating in agreement

'

'

'

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

'

'

Cash payment to be made to executive officers on termination of employment, in connection with a Change in Control (as defined)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$7,000,000

$0

Period before change in control within which the cash payment is made following an involuntary termination of employment under certain circumstances

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'6 months

'

'

'6 months

'

Period after change in control within which the cash payment is made following an involuntary termination of employment under certain circumstances

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

Money damages sought

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7,900,000

'

'

'

Severance payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

750,000

'

'

'

'

'

Restricted stock held by Mr. Griff which may vest under Restricted Stock Award Agreement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,833

'

'

'

'

'

Employee-related Liabilities

3,003,000

34,199,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

'

Amount agreed to be paid

'

'

'

'

'

'

'

'

'

'

'

'

2,900,000

'

'

'

'

'

'

'

Legal costs reimbursable

'

'

'

'

'

'

'

'

'

'

'

'

600,000

'

'

'

'

'

'

'

Settlement charge

'

'

'

'

'

'

'

'

'

'

'

3,200,000

'

'

'

'

'

'

'

'

Settlement liability

'

'

'

'

'

'

'

'

'

'

'

3,500,000

'

'

'

'

'

'

'

'

Bonus guarantees to certain officers

'

'

'

'

'

'

'

'

'

'

3,550,000

'

'

'

'

'

'

'

'

'

Bonus guarantees to other employees

'

'

'

'

'

'

'

'

'

800,000

'

'

'

'

'

'

'

'

'

'

Compensation charge

400,000

'

'

'

'

'

'

'

'

'

1,400,000

'

'

'

'

'

'

'

'

'

Escrow Deposit

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Period following the closing date for escrow account

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

Maximum amount of guarantee provided

'

'

'

'

'

'

'

7,500,000

'

'

'

'

'

'

'

'

'

'

'

'

Amount payable by Parent under the guaranty only in limited circumstances

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans requested to be repurchased

'

'

3

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans requested to be repurchased

'

'

800,000

800,000

800,000

'

600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Reserve for loan repurchases and indemnification claims

'

'

300,000

300,000

300,000

400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans requested to be repurchased during the period

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Losses on loans requested to be repurchased

'

'

'

100,000

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other Compensation Matters

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Compensation charge

'

'

'

'

'

'

'

'

$300,000

$500,000

'

'

'

'

'

'

'

'

'

'

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 27, 2013	Sep. 30, 2013	Dec. 31, 2012	Jun. 30, 2013
						Letter of Credit	Letter of Credit	Letter of Credit Expired and Retained by Landlord
Leases	'	'	'	'	'	'	'	'
Remaining contractual obligation for base rent related to lease terminated	'	'	'	'	$61,000,000	'	'	'
Termination obligation under the Surrender Agreement	'	'	'	'	19,500,000	'	'	'
Termination obligation payable in cash under the Surrender Agreement	'	'	'	'	15,600,000	'	'	'
Deposit retained by landlord related to lease terminated	'	'	'	'	3,900,000	'	'	'
Lease restructuring charge	3,200,000	'	'	'	'	'	'	'
Lease restructuring charge related to the First Premises	1,400,000	'	'	'	'	'	'	'
Lease restructuring charge related to the Second Premises surrendered	1,800,000	'	'	'	'	'	'	'
Reserve for lease commitments for Second Premises	0	'	0	'	'	'	'	'
Future Minimum Lease Payments	'	'	'	'	'	'	'	'
2013 (Remaining)	565,000	'	565,000	'	'	'	'	'
2014	1,505,000	'	1,505,000	'	'	'	'	'
2015	730,000	'	730,000	'	'	'	'	'
Total	2,800,000	'	2,800,000	'	'	'	'	'
Sublease Rental Income	'	'	'	'	'	'	'	'
2013 (Remaining)	349,000	'	349,000	'	'	'	'	'
2014	974,000	'	974,000	'	'	'	'	'
2015	530,000	'	530,000	'	'	'	'	'
Total	1,853,000	'	1,853,000	'	'	'	'	'
Net Lease Payments	'	'	'	'	'	'	'	'
2013 (Remaining)	216,000	'	216,000	'	'	'	'	'
2014	531,000	'	531,000	'	'	'	'	'
2015	200,000	'	200,000	'	'	'	'	'
Total	947,000	'	947,000	'	'	'	'	'
Rental expense, net of sublease rental income	100,000	200,000	400,000	600,000	'	'	'	'
Letters of Credit	'	'	'	'	'	'	'	'
Letters of Credit	'	'	'	'	'	1,000,000	4,900,000	'
Letters of Credit	'	'	'	'	'	'	'	$3,900,000

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	0 Months Ended	1 Months Ended	8 Months Ended
In Millions, except Share data, unless otherwise specified	30-May-13	Feb. 28, 2013	Sep. 30, 2013
Stockholders' Equity	'	'	'
Reverse stock split ratio	0.05	'	'
Shares authorized under share repurchase program	'	$10	'
Number of common stock shares repurchased	'	'	0

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended			9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Taxes	'	'	'	'	'
Pre-tax federal NOL	$135	'	'	$135	'
Income tax expense (benefit) from continuing operations	$0.10	($2.20)	'	$0.20	$22.70
Cumulative loss position period	'	'	'3 years	'	'

StockBased_Compensation_Plans_1

Stock-Based Compensation Plans (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock-based compensation expense	'	'	'	'
Continuing operations	$74	$803	$1,392	$2,356
Discontinued operations	-8	-760	4,491	2,182
Total	66	43	5,883	4,538
Exit of Investment Banking and Fixed Income Businesses	'	'	'	'
Stock-based compensation expense	'	'	'	'
Discontinued operations	$100	'	$4,100	'
Shares vested	3,000	'	267,000	'

Net_Capital_Requirements_Detai

Net Capital Requirements (Details) (USD $)	Sep. 30, 2013
In Millions, unless otherwise specified
Gleacher Securities	'
Net Capital Requirements	'
Required minimum net capital	$36.10
Excess net capital	35.9
Minimum net capital under the alternative method	0.25
Gleacher Partners, LLC	'
Net Capital Requirements	'
Required minimum net capital	0.8
Excess net capital	0.5
Minimum net capital under the alternative method	$0.25

Restructuring_Details

Restructuring (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013
		item
Restructuring	'	'	'
Number of employees impacted	'	150	'
Restructuring charges	'	'	'
Cash charges	$4,156	'	$38,339
Non-cash charges	588	'	12,491
Restructuring expenses - Total:	4,744	'	50,830
Investment Banking	'	'	'
Restructuring charges	'	'	'
Cash charges	70	'	1,749
Non-cash charges	'	'	3,186
Investment Banking | Severance compensation	'	'	'
Restructuring charges	'	'	'
Cash charges	'	'	1,417
Investment Banking | Third party vendor contracts and other costs	'	'	'
Restructuring charges	'	'	'
Cash charges	70	'	332
Investment Banking | Intangible asset impairment	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	2,932
Investment Banking | Stock-based compensation vesting	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	254
Fixed Income businesses	'	'	'
Restructuring charges	'	'	'
Cash charges	753	'	14,457
Non-cash charges	'	'	4,069
Fixed Income businesses | Severance compensation	'	'	'
Restructuring charges	'	'	'
Cash charges	262	'	8,323
Fixed Income businesses | Third party vendor contracts and other costs	'	'	'
Restructuring charges	'	'	'
Cash charges	491	'	6,134
Fixed Income businesses | Stock-based compensation vesting	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	3,681
Fixed Income businesses | Goodwill & intangible asset impairment	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	388
ClearPoint	'	'	'
Restructuring charges	'	'	'
Cash charges	88	'	1,464
Non-cash charges	'	'	1,035
ClearPoint | Severance compensation	'	'	'
Restructuring charges	'	'	'
Cash charges	'	'	1,263
ClearPoint | Third party vendor contracts and other costs	'	'	'
Restructuring charges	'	'	'
Cash charges	88	'	201
ClearPoint | Intangible asset impairment	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	587
ClearPoint | Deferred compensation and other charges	'	'	'
Restructuring charges	'	'	'
Non-cash charges	'	'	448
Other	'	'	'
Restructuring charges	'	'	'
Cash charges	3,245	'	20,669
Non-cash charges	588	'	4,201
Other | Severance compensation	'	'	'
Restructuring charges	'	'	'
Cash charges	43	'	712
Other | Reserve for lease commitments	'	'	'
Restructuring charges	'	'	'
Cash charges	3,202	'	19,957
Other | Stock-based compensation vesting	'	'	'
Restructuring charges	'	'	'
Non-cash charges	57	'	195
Other | Impairment of fixed assets and leasehold improvements	'	'	'
Restructuring charges	'	'	'
Non-cash charges	$531	'	$4,006

Restructuring_Details_2

Restructuring (Details 2) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 27, 2013
Changes in the company's liability related to restructuring	'	'	'
Restructuring expense	$4,744,000	$50,830,000	'
Plus: Deferred rent obligation, prior to restructuring	2,160,000	2,160,000	'
Less: Non-cash charges	-588,000	-12,491,000	'
Payments for restructuring	'	-35,500,000	'
Balance at the end of the period	4,953,000	4,953,000	'
Termination obligation under the Surrender Agreement	'	'	19,500,000
Termination obligation payable in cash under the Surrender Agreement	'	'	15,600,000
Deposit retained by landlord related to lease terminated	'	'	3,900,000
Settlement period of majority of remaining liability associated with restructuring	'	'12 months	'
Lease termination - Company headquarters	'	'	'
Changes in the company's liability related to restructuring	'	'	'
Payments for restructuring	'	-19,500,000	'
Severance and other compensation	'	'	'
Changes in the company's liability related to restructuring	'	'	'
Payments for restructuring	'	-11,715,000	'
Third party vendor contracts and other costs	'	'	'
Changes in the company's liability related to restructuring	'	'	'
Payments for restructuring	'	-3,000,000	'
Lease commitments, net of sublease income	'	'	'
Changes in the company's liability related to restructuring	'	'	'
Payments for restructuring	'	($1,331,000)	'

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Discontinued Operations	'	'	'	'	'
Total net revenue	$419,000	'	$42,955,000	$28,674,000	$151,906,000
Total expenses (excluding restructuring expense)	1,403,000	'	40,278,000	49,888,000	171,691,000
Subtotal	-984,000	'	2,677,000	-21,214,000	-19,785,000
Restructuring expense	-4,744,000	'	'	-50,830,000	'
(Loss)/income from discontinued operations before income taxes	-5,728,000	'	2,677,000	-72,044,000	-19,785,000
Income tax expense	'	'	'	'	1,802,000
(Loss)/income from discontinued operations, net of taxes	-5,728,000	'	2,677,000	-72,044,000	-21,587,000
Other items reclassified from continuing operations	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Total net revenue	2,000	'	799,000	572,000	4,381,000
Total expenses (excluding restructuring expense)	490,000	'	3,127,000	5,103,000	31,076,000
Expenses, net of revenues	-488,000	'	-2,328,000	-4,531,000	-26,695,000
Investment Banking	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Total net revenue	'	'	1,499,000	15,034,000	14,762,000
Total expenses (excluding restructuring expense)	257,000	'	1,756,000	12,863,000	12,245,000
Expenses, net of revenues	-257,000	'	-257,000	2,171,000	2,517,000
MBS & Rates	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Total net revenue	-68,000	'	8,943,000	-4,412,000	34,556,000
Total expenses (excluding restructuring expense)	321,000	'	7,129,000	10,823,000	29,000,000
Expenses, net of revenues	-389,000	'	1,814,000	-15,235,000	5,556,000
Credit Products	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Total net revenue	485,000	'	18,804,000	13,049,000	58,393,000
Total expenses (excluding restructuring expense)	204,000	'	14,865,000	14,413,000	53,857,000
Expenses, net of revenues	281,000	'	3,939,000	-1,364,000	4,536,000
ClearPoint	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Loss recognized from discontinued operations	'	1,100,000	'	'	'
Total net revenue	'	'	12,899,000	4,355,000	39,760,000
Total expenses (excluding restructuring expense)	63,000	'	13,423,000	6,499,000	45,638,000
Expenses, net of revenues	-63,000	'	-524,000	-2,144,000	-5,878,000
Equities division	'	'	'	'	'
Discontinued Operations	'	'	'	'	'
Total net revenue	'	'	11,000	76,000	54,000
Total expenses (excluding restructuring expense)	68,000	'	-22,000	187,000	-125,000
Expenses, net of revenues	($68,000)	'	$33,000	($111,000)	$179,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Nov. 07, 2012	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
			RangeMark	Former stockholders of Gleacher Partners, Inc.	Former stockholders of Gleacher Partners, Inc.	Former stockholders of Gleacher Partners, Inc.	Former stockholders of Gleacher Partners, Inc.	Former owners of RangeMark	MatlinPatterson or its affiliated persons or entities	Capstone	Capstone
			item						item
Related Party Transactions	'	'	'	'	'	'	'	'	'	'	'
Expenses incurred in related party transaction	'	'	'	'	'	'	'	'	'	$900,000	$1,600,000
Aggregate purchase consideration	'	'	2,500,000	'	'	'	'	'	'	'	'
Number of installments in which purchase consideration is payable	'	'	4	'	'	'	'	'	'	'	'
Amount agreed to be paid to selling parties	'	'	'	10,000,000	'	'	'	'	'	'	'
Period over which purchase consideration will be paid to selling parties	'	'	'	'5 years	'	'	'	'	'	'	'
Payment of purchase consideration obligation	'	'	'	'	4,400,000	0	4,900,000	'	'	'	'
Amounts receivable from or payable to related parties	'	'	'	'	'	'	'	'	'	'	'
Receivables from related parties	1,546,000	1,474,000	'	1,546,000	1,474,000	'	'	'	'	'	'
Payables to related parties	1,025,000	2,944,000	'	594,000	594,000	'	'	2,350,000	'	431,000	431,000
Expense reimbursement of MatlinPatterson	'	'	'	'	'	'	'	'	$1,100,000	'	'
Number of members in Audit Committee not standing for re-election	'	'	'	'	'	'	'	'	4	'	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Oct. 14, 2013
					Subsequent event
					Capstone
Subsequent Events	'	'	'	'	'
Monthly base rental payments for sublease	$100,000	$200,000	$400,000	$600,000	$12,000
Minimum notice period required for adjusting space needs under sublease arrangments	'	'	'	'	'30 days