10.

Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers

Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers primarily represent amounts due for undelivered securities, cash held at clearing organizations and exchanges to facilitate settlement and clearance of matched principal transactions, spreads on matched principal transactions that have not yet been remitted from/to clearing organizations and exchanges and amounts related to open derivative contracts, including derivative contracts into which the Company may enter to minimize the effect of price changes of the Company’s Nasdaq shares and/or ICE shares (see Note 11—“Derivatives”). As of September 30, 2016 and December 31, 2015, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):


	September 30, 2016		December 31, 2015
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	1,603,087	$	692,530
Receivables from clearing organizations		134,079		92,915
Other receivables from broker-dealers and customers		14,554		18,252
Net pending trades		11,048		6,544
Open derivative contracts		1,066		1,999

Total	$	1,763,834	$	812,240

Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	1,551,527	$	660,365
Payables to clearing organizations		40,096		30,037
Other payables to broker-dealers and customers		20,939		23,287
Open derivative contracts		775		1,134

Total	$	1,613,337	$	714,823

A portion of these receivables and payables are with Cantor. See Note 13—“Related Party Transactions,” for additional information related to these receivables and payables.

Substantially all open fails to deliver, open fails to receive and pending trade transactions as of September 30, 2016 have subsequently settled at the contracted amounts.