Receivables from and payables to brokers, dealers and clearing organizations

3 Months Ended

Mar. 31, 2022

Brokers and Dealers [Abstract]

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 March 31, 2022 and December 31, 2021, amounts receivable from brokers, dealers and clearing organizations include:

	As of March 31, 2022		As of December 31, 2021
	(dollars in thousands)
Broker-dealers	$	1,342,242	$	1,533,713
Securities failed to deliver	91,561		17,851
Clearing organizations	44,450		56,075
Securities borrowed/loaned interest receivable	9,658		6,708
	$	1,487,911	$	1,614,347

As of March 31, 2022 and December 31, 2021, amounts payable to brokers, dealers and clearing organizations include:

	As of March 31, 2022		As of December 31, 2021
	(dollars in thousands)
Broker-dealers	$	419,423	$	483,112
Securities failed to receive	95,201		57,894
Clearing organizations	62,804		37,925
Securities borrowed/loaned interest payable	10,112		7,622
	$	587,540	$	586,553