Statement of Financial Condition
UBS Securities LLC
Notes to the Statement of Financial Condition (continued)
(In Thousands)
6. Fair Value Measurement (continued)
Assets and liabilities measured at fair value on a recurring basis (continued)
Financial liabilities
designated at fair value
Brokerage payables
Equities and warrants ¹,2
(Level 1)
$
$
(Level 2)
$ 6,342,657
402,001
$ 6,744,658
(Level 3)
$
137,941
$ 137,941
Total fair value
1 Represents the Prepaid Variable forward agreements noted in Footnote 13.
2 Further breakdown of level 3 Prepaid Variable forward agreements can be found on the following tables.
$ 6,342,657
539,942
$ 6,882,599
Transfers between Level 1 and Level 2 of the fair value hierarchy
During the twelve months ended December 31, 2021, the Company did not have any material
transfers of securities owned, at fair value and securities sold, not yet purchased at fair value
between Levels 1 and 2 of the valuation hierarchy.
Valuation techniques and inputs used in the fair value measurement of Level 3 assets and
liabilities measured at fair value on a recurring basis
The following table provides information on the valuation techniques, significant unobservable
inputs and the range of values for those inputs for each category of assets and liabilities measured
at fair value on a recurring basis, categorized as Level 3 of the fair value hierarchy at December
31, 2021.
The range of values presented in this table is representative of the highest and lowest level of input
used to value the significant instruments within each category. The disclosure below also includes
qualitative information on the sensitivity of the fair value measurements to changes in the
significant unobservable inputs.
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