Receivables from and payables to brokers, dealers and clearing organizations

9 Months Ended

Sep. 30, 2017

Due to and from Broker-Dealers and Clearing Organizations Disclosure [Text Block]

Receivables From and Payables to Brokers, Dealers and Clearing Organizations

Receivables from and payable to brokers, dealers and clearing organizations includes cash held at the clearing brokers, amounts receivable or payable for unsettled transactions, monies borrowed and proceeds from short sales equal to the fair value of securities sold, not yet purchased, which are restricted until the Company purchases the securities sold short. Pursuant to the master netting agreements the Company entered into with its brokers, dealers and clearing organizations, these balances are presented net (assets less liabilities) across balances with the same counterparty. The Company's receivables from and payables to brokers, dealers and clearing organizations balances are held at multiple financial institutions.

As of September 30, 2017 and December 31, 2016, amounts receivable from brokers, dealers and clearing organizations include:



	As of September 30, 2017		As of December 31, 2016
	(dollars in thousands)
Broker-dealers	$	199,747	$	78,898
Securities failed to deliver	33,877		—
Clearing organizations	9,671		—
Stock borrow interest receivable	3,841		—
	$	247,136	$	78,898

As of September 30, 2017 and December 31, 2016, amounts payable to brokers, dealers and clearing organizations include:



	As of September 30, 2017		As of December 31, 2016
	(dollars in thousands)
Broker-dealers	$	118,568	$	210,309
Securities failed to receive	26,315		—
Clearing organizations	9,000		—
Stock loan interest payable	2,220		—
	$	156,103	$	210,309