Receivables from and payables to brokers, dealers and clearing organizations

9 Months Ended

Sep. 30, 2020

Brokers and Dealers [Abstract]

Receivables From and Payables to Brokers, Dealers and Clearing Organizations

Receivable From and Payable To Brokers, Dealers and Clearing OrganizationsReceivable 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 September 30, 2020 and December 31, 2019, amounts receivable from brokers, dealers and clearing organizations include:

	As of September 30, 2020		As of December 31, 2019
	(dollars in thousands)
Broker-dealers	$	1,263,635	$	623,523
Securities failed to deliver	71,280		45,673
Clearing organizations	49,978		3,180
Securities borrowed interest receivable	5,928		9,319
	$	1,390,821	$	681,695

As of September 30, 2020 and December 31, 2019, amounts payable to brokers, dealers and clearing organizations include:

	As of September 30, 2020		As of December 31, 2019
	(dollars in thousands)
Broker-dealers	$	228,628	$	185,838
Securities failed to receive	39,496		57,580
Clearing organizations	39,077		18,063
Securities loaned interest payable	5,649		9,537
	$	312,850	$	271,018