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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of derivative instruments on a gross basis
The fair value of the Company’s derivative instruments on a gross basis consisted of the following at December 31, 2018 and December 31, 2017:
(in thousands)
 
 
 
December 31, 2018
 
December 31, 2017
Derivatives Assets        
 
Financial Statements Location
 
Fair Value
 
Notional
 
Fair Value
 
Notional
Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Equities futures
 
Receivables from broker dealers and clearing organizations
 
$
(15,382
)
 
$
2,891,606

 
$
(505
)
 
$
1,985,770

Commodity futures       
 
Receivables from broker dealers and clearing organizations
 
69,235

 
11,595,215

 
971

 
21,231,001

Currency futures
 
Receivables from broker dealers and clearing organizations
 
(9,432
)
 
3,756,914

 
26,548

 
3,994,412

Fixed income futures
 
Receivables from broker dealers and clearing organizations
 
(28
)
 
18,694

 
73

 
44,395

Options
 
Financial instruments owned
 
11,899

 
659,101

 
7,045

 
682,369

Currency forwards
 
Financial instruments owned
 
2,792,373

 
171,288,432

 
2,045,487

 
124,000,221

 
 
 
 
 
 
 
 
 
 
 
Derivatives Liabilities
 
Financial Statements Location
 
Fair Value
 
Notional
 
Fair Value
 
Notional
Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Equities futures
 
Payables to broker dealers and clearing organizations
 
$
468

 
$
106,487

 
$
(575
)
 
$
142,658

Commodity futures
 
Payables to broker dealers and clearing organizations
 
(375
)
 
54,782

 
(1,602
)
 
130,042

Currency futures
 
Payables to broker dealers and clearing organizations
 
(30,643
)
 
6,239,725

 
(13,947
)
 
7,756,958

Fixed income futures
 
Payables to broker dealers and clearing organizations
 
93

 
8,591

 
(1
)
 
2,584

Options
 
Financial instruments sold, not yet purchased
 
11,051

 
608,756

 
5,839

 
681,147

Currency forwards
 
Financial instruments sold, not yet purchased
 
2,720,749

 
171,252,224

 
2,032,017

 
123,993,234

 
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
Financial instruments sold, not yet purchased
 
(792
)
 
13,501

 
(514
)
 
16,115
Schedule of net gain from derivative instruments not designated as hedging instruments
The following table summarizes the net gain from derivative instruments not designated as hedging instruments under ASC 815, which are recorded in trading income, net, and from those designated as hedging instrument under ASC 815, which are recorded in accumulated other comprehensive income in the accompanying consolidated statements of comprehensive income for the years ended December 31, 2018, 2017, and 2016.
 
 
 
 
Years Ended December 31,
(in thousands)
 
Financial Statements Location
 
2018
 
2017
 
2016
Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
 
Futures
 
Trading income, net
 
$
(309,598
)
 
$
290,609

 
$
559,626

Currency forwards
 
Trading income, net
 
174,310

 
2,603

 
1,915

Options
 
Trading income, net
 
(6,161
)
 
(7,166
)
 
(410
)
Others
 
Trading income, net
 
—

 
—

 
(6
)
 
 
 
 
$
(141,449
)
 
$
286,046

 
$
561,125

 
 
 
 
 
 
 
 
 
Derivative instruments designated as hedging instruments:
 
 
 
 
 
 
 
 
Foreign exchange - forward contract
 
Accumulated other comprehensive income
 
$
63

 
$
(642
)
 
—