Receivables from and payables to brokers, dealers and clearing organizations

6 Months Ended

Jun. 30, 2019

Receivables From and Payables to Brokers, Dealers and Clearing Organizations

Receivable From and Payable to Brokers, Dealers and Clearing Organizations

Receivable 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, at fair value, 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 receivable from and payable to brokers, dealers and clearing organizations balances are held at multiple financial institutions.

As of June 30, 2019 and December 31, 2018, amounts receivable from brokers, dealers and clearing organizations include:




	As of June 30, 2019		As of December 31, 2018
	(dollars in thousands)
Broker-dealers	$	547,293	$	692,581
Securities failed to deliver	33,373		72,918
Clearing organizations	22,683		15,319
Securities borrowed interest receivable	14,019		5,295
	$	617,368	$	786,113

As of June 30, 2019 and December 31, 2018, amounts payable to brokers, dealers and clearing organizations include:




	As of June 30, 2019		As of December 31, 2018
	(dollars in thousands)
Broker-dealers	$	166,728	$	159,443
Securities failed to receive	52,482		28,826
Clearing organizations	9,648		36,338
Securities loaned interest payable	12,154		4,124
	$	241,012	$	228,731