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

12 Months Ended

Dec. 31, 2018

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

11.	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 marketable securities (see Note 12—“Derivatives”). As of December 31, 2018 and December 31, 2017, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):

	December 31, 2018		December 31, 2017
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	660,995	$	586,486
Receivables from clearing organizations		269,549		133,682
Other receivables from broker-dealers and customers		7,561		10,941
Net pending trades		1,782		1,597
Open derivative contracts		1,979		5,993
Total	$	941,866	$	738,699
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	636,705	$	567,460
Payables to clearing organizations		30,043		14,023
Other payables to broker-dealers and customers		11,956		18,164
Open derivative contracts		91,129		4,886
Total	$	769,833	$	604,533

A portion of these receivables and payables are with Cantor. See Note 14—“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 December 31, 2018 have subsequently settled at the contracted amounts.