We expect G&A to increase 5 to 7% from the 55 million recorded in 2023. Part of the projected increase stems from the previously mentioned third quarter adjustment to reduce the estimated accrual for the costs associated with the implementation of our trade order management system. Excluding that adjustment, we would expect G&A to increase 3 to 5%. The majority of the increase is due to costs associated with the relocation of our London and Tokyo offices, as well as higher technology costs and client-related travel and entertainment expenses.

Jan 25, 2024 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2024-01-25 | transcript 1d473ad5-5103-4d8a-9b2d-39e42120bece | chars 6955-7503 | segment 7

The decrease in G&A was primarily due to lower than projected costs associated with the now completed implementation of our new trading and order management system, as well as lower recruitment costs, partially offset by increases in business-related travel and entertainment and hosted conferences.

Oct 19, 2023 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2023-10-19 | transcript 72311f68-dfc7-4278-9257-0c0e06e331e5 | chars 4423-4722 | segment 4

The decrease in G&A was primarily due to lower non-client related travel and entertainment and a decrease in recruitment fees.

Jul 20, 2023 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2023-07-20 | transcript 96dfe0ca-c616-4a7d-a487-4683735b8820 | chars 3997-4123 | segment 4

And we expect that sponsored conferences and travel and entertainment costs will increase in 2023 as business travel resumes to more normal levels.

Jan 26, 2023 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2023-01-26 | transcript 2e3e42e1-9710-42e5-8e45-31f789629c62 | chars 7530-7677 | segment 7

And the increase in G&A was primarily due to higher hosted conferences and an increase in travel and entertainment expenses.

Oct 20, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-10-20 | transcript 7a489ed0-8e41-4f5c-9013-228e9535b63c | chars 4067-4191 | segment 4

In addition, although our T&E has increased from last year, it is still below pre-pandemic levels.

Oct 20, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-10-20 | transcript 7a489ed0-8e41-4f5c-9013-228e9535b63c | chars 7483-7581 | segment 7

And the increase in G&A was primarily due to higher travel and entertainment and an increase in recruitment fees.

Jul 21, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-07-21 | transcript 84caaf20-03ae-407e-8f3e-ff9a5f6828f1 | chars 4363-4476 | segment 4

We also expect that both travel and entertainment and sponsored conference costs will increase.

Jul 21, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-07-21 | transcript 84caaf20-03ae-407e-8f3e-ff9a5f6828f1 | chars 7135-7230 | segment 7

We also expect that both travel and entertainment and sponsored conference costs will increase as global conditions continue to return to pre-pandemic levels.

Apr 21, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-04-21 | transcript 5366ce3b-ed7e-43b8-a858-069050b1f99e | chars 7870-8028 | segment 8

The increase in G&A was primarily due to higher travel and entertainment, increased hosted and sponsored conferences, and higher recruitment fees.

Jan 27, 2022 / CFO / receipt, needs a key / Matt Stadler, CFO | earnings call 2022-01-27 | transcript 318e3b4f-43c5-4b5a-8789-c03a04631598 | chars 4221-4367 | segment 4