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Collateralized Transactions (Tables)
 6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]  
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of June 30, 2020:
(Expressed in thousands)
 
 
Overnight and Open
Repurchase agreements:
 
U.S. Government and Agency securities
$
382,005

Securities loaned:
 
Equity securities
204,339

Gross amount of recognized liabilities for repurchase agreements and securities loaned
$
586,344
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions
The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of June 30, 2020 and December 31, 2019:
As of June 30, 2020
 (Expressed in thousands)
 
 
 
 
 
 
Gross Amounts Not Offset
on the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset on the
Balance Sheet
 
Net Amounts
of Assets
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
Reverse repurchase agreements
$
227,850

 
$
(227,850
)
 
$
—

 
$
—

 
$
—

 
$
—

Securities borrowed (1)
126,888

 
—

 
126,888

 
(123,282
)
 
—

 
3,606

Total
$
354,738

 
$
(227,850
)
 
$
126,888

 
$
(123,282
)
 
$
—

 
$
3,606

(1)
Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
 
 
 
 
 
 
 
Gross Amounts Not Offset
on the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset on the Balance Sheet
 
Net Amounts
of Liabilities
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
Net Amount
Repurchase agreements
$
382,005

 
$
(227,850
)
 
$
154,155

 
$
(153,701
)
 
$
—

 
$
454

Securities loaned (2)
204,339

 
—

 
204,339

 
(202,253
)
 
—

 
2,086

Total
$
586,344

 
$
(227,850
)
 
$
358,494

 
$
(355,954
)
 
$
—

 
$
2,540

 
(2)
Included in payable to brokers, dealers and clearing organizations on the condensed consolidated
balance sheet.
As of December 31, 2019
(Expressed in thousands) 
 
 
 
 
 
 
Gross Amounts Not Offset
on the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset on the Balance Sheet
 
Net Amounts
of Assets
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
Reverse repurchase agreements
$
55,927

 
$
(55,927
)
 
$
—

 
$
—

 
$
—

 
$
—

Securities borrowed (1)
99,635

 
—

 
99,635

 
(97,702
)
 
—

 
1,933

Total
$
155,562

 
$
(55,927
)
 
$
99,635

 
$
(97,702
)
 
$
—

 
$
1,933

 
(1)
Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
 
 
 
 
 
 
 
Gross Amounts Not Offset
on the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset on the Balance Sheet
 
Net Amounts
of Liabilities
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
Net Amount
Repurchase agreements
$
343,192

 
$
(55,927
)
 
$
287,265

 
$
(285,264
)
 
$
—

 
$
2,001

Securities loaned (2)
234,343

 
—

 
234,343

 
(228,548
)
 
—

 
5,795

Total
$
577,535

 
$
(55,927
)
 
$
521,608

 
$
(513,812
)
 
$
—

 
$
7,796

 
(2)
Included in payable to brokers, dealers and clearing organizations on the condensed consolidated
balance sheet.