Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 958

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 15
Chunk 958
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 in hedging the interest rate risk associated with the mortgages owned by these clients. 
  (iii)  Finally, the Company  may enter into TBAs and other forward agency MBS contracts on a speculative basis. 

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   The Company carries the TBAs and other forward agency MBS contracts at fair value and includes them as a component of investments-trading or trading securities sold, not yet purchased in the Company’s consolidated balance sheets. At  December 31, 2024, the Company had open TBA and other forward MBS purchase agreements in the notional amount of $852,450 and open TBA and other forward MBS sale agreements in the notional amount of $883,900. At  December 31, 2023, the Company had open TBA and other forward agency MBS purchase agreements in the notional amount of $592,000 and open TBA and other forward agency MBS sale agreements in the notional amount of $618,425. 
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   Other Extended Settlement Trades 
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   When the Company buys or sells a financial instrument that will not settle in the regular time period, the Company will account for that purchase and sale on the settlement date rather than the trade date.  In those cases, the Company accounts for the transaction between trade date and settlement date as either a forward purchase commitment or a forward sale commitment, both considered derivatives.  The Company will record an unrealized gain or unrealized loss on the derivative for the difference between the fair value of the underlying financial instrument as of the reporting date and the agreed upon transaction price.  As of  December 31, 2024, the Company had open forward purchase commitments in the notional amount of $1,593 and open forward sales commitments in the notional amount of $0.  At  December 31, 2023, the Company had no open forward purchase or sale commitments. 
    
   Foreign Currency Forward Contracts 
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   The Company invests in foreign currency denominated investments that expose it to fluctuations in foreign currency rates, and, therefore, the Company  may, from time to time, hedge such exposure by using foreign currency forward contracts.  The Company carries the foreign currency forward contracts at fair value and includes them as a component of other investments, at fair value in the Company’s consolidated balance sheets.  As of  December 31, 2024 and 2023, the Company