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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements
The Company’s financial instruments measured at fair value on the consolidated statements of financial condition as of December 31, 2021 and 2020 have been categorized based upon the fair value hierarchy as follows:

Quoted Prices in
active Markets
for Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
(in thousands)
As of December 31, 2021
Assets
Cash equivalents – Money market funds$654,553 $— $— $654,553 
Receivable from affiliates – Foreign currency forward contracts
— 3,019 — 3,019 
Total assets measured at fair value$654,553 $3,019 $— $657,572 
Liabilities
Payable to affiliates – Foreign currency forward contracts$— $— $— $— 
Total liabilities measured at fair value$— $— $— $— 
As of December 31, 2020
Assets
Cash equivalents – Money market funds$541,790 $— $— $541,790 
Total assets measured at fair value$541,790 $— $— $541,790 
Liabilities
Payable to affiliates – Foreign currency forward contracts$— $3,409 $— $3,409 
Total liabilities measured at fair value$— $3,409 $— $3,409 
Schedule of Derivative Values
The following table summarizes the aggregate U.S. dollar equivalent notional amount of the Company’s foreign currency forward contracts not designated as hedges for accounting purposes:
December 31,
20212020
(in thousands)
Foreign currency forward contracts – Gross notional amount$146,202 $122,458 
The total realized and unrealized gains (losses) on foreign currency forward contracts recorded within general and administrative expenses in the consolidated statements of income are as follows:
Year Ended
December 31,
202120202019
(in thousands)
Foreign currency forward contracts not designated in accounting hedge relationship$9,008 $(6,269)$3,029 
Schedule of Financial Instruments Not Measured at Fair Value
The Company’s financial instruments not measured at fair value on the consolidated statements of financial condition as of December 31, 2021 and 2020 have been categorized based upon the fair value hierarchy as follows:
Carrying ValueQuoted Prices in
active Markets
for Identical
Assets
(Level 1)
 Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)		Total Fair Value
(in thousands)
As of December 31, 2021
Assets
Cash and restricted cash$318,495 $318,495 $— $— $318,495 
Receivable from brokers and dealers and clearing organizations— — — — — 
Deposits with clearing organizations20,523 20,523 — — 20,523 
Accounts receivable129,937 — 129,937 — 129,937 
Other assets – Memberships in clearing organizations
2,392 — — 2,392 2,392 
Total$471,347 $339,018 $129,937 $2,392 $471,347 
Liabilities
Payable to brokers and dealers and clearing organizations$— $— $— $— $— 
Total$— $— $— $— $— 
As of December 31, 2020
Assets
Cash and restricted cash$250,490 $250,490 $— $— $250,490 
Receivable from brokers and dealers and clearing organizations368 — 368 — 368 
Deposits with clearing organizations11,671 11,671 — — 11,671 
Accounts receivable105,286 — 105,286 — 105,286 
Other assets – Memberships in clearing organizations
1,586 — — 1,586 1,586 
Total$369,401 $262,161 $105,654 $1,586 $369,401 
Liabilities
Payable to brokers and dealers and clearing organizations$252 $— $252 $— $252 
Total$252 $— $252 $— $252