Receivables from and payables to brokers, dealers and clearing organizations

12 Months Ended

Dec. 31, 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 December 31, 2020 and 2019, amounts receivable from brokers, dealers and clearing organizations include:

	As of December 31,
	2020		2019
	(dollars in thousands)
Broker-dealers	$	1,608,273	$	623,523
Securities failed to deliver	55,655		45,673
Clearing organizations	41,795		3,180
Securities borrowed/loaned interest receivable	24,021		9,319
	$	1,729,744	$	681,695

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

	As of December 31,
	2020		2019
	(dollars in thousands)
Broker-dealers	$	286,011	$	185,838
Securities failed to receive	68,036		57,580
Clearing organizations	33,732		18,063
Securities borrowed/loaned interest payable	27,364		9,537
	$	415,143	$	271,018