As of September 30, 2019, and March 31, 2019 the Company’s securities sold, not yet purchased – at fair value was $3,631 and $0, respectively.

During the six months ended September 30, 2019, the Company sold shares received as a pledge under reverse repurchase agreements and recognized financial liabilities at fair value in the amount of $3,083 and partially closed short positions in the amount of $3,047 by purchasing securities from third parties, reducing its financial liability. During the six months ended September 30, 2019, the Company recognized a loss on the change in fair value of financial liabilities at fair value in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income/(Loss) in the amount of $20 with no foreign exchange translation gain/(loss).

During the six months ended September 30, 2019, the Company opened a short position and recognized financial liabilities at fair value in the amount of $3,200. During the six months ended September 30, 2019, the Company recognized a loss on the change in fair value of financial liabilities at fair value in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income/(Loss) in the amount of $415 with no foreign exchange translation gain/(loss).

A short sale involves the sale of a security that is not owned by the seller in the expectation of the seller purchasing the same security (or a security exchangeable) at a later date at a lower price. A short sale involves the risk of a theoretically unlimited increase in the market price of the security that would result in a theoretically unlimited loss.