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Receivables from/Payables to Broker-Dealers and Clearing Organizations (Tables)
 6 Months Ended
Jun. 30, 2024
Due to and from Broker-Dealers and Clearing Organizations [Abstract]  
Summary of receivables from and payables to brokers-dealers and clearing organizations
The following is a summary of receivables from and payables to brokers-dealers and clearing organizations at June 30, 2024 and December 31, 2023:
(in thousands)June 30, 2024December 31, 2023
Assets
Due from prime brokers$308,037 $208,639 
Deposits with clearing organizations197,684 182,008 
Net equity with futures commission merchants149,582 166,808 
Unsettled trades with clearing organizations1,689 1,096 
Securities failed to deliver210,200 148,822 
Commissions and fees35,675 30,351 
Total receivables from broker-dealers and clearing organizations$902,867 $737,724 
Liabilities
Due to prime brokers$596,933 $780,310 
Net equity with futures commission merchants (1)(28,531)(36,059)
Unsettled trades with clearing organizations151,047 313,875 
Securities failed to receive118,544 104,702 
Commissions and fees5,119 4,884 
Total payables to broker-dealers and clearing organizations$843,112 $1,167,712 
(1)   The Company presents its balances, including outstanding principal balances on all broker credit facilities, on a net-by-counterparty basis within receivables from and payables to broker-dealers and clearing organizations when the criteria for offsetting are met.