XML 42 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
Assets and Liabilities, at Fair Value (Tables)
 9 Months Ended
Jun. 30, 2016
Assets and Liabilities, at Fair Value [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth the Company’s financial and nonfinancial assets and liabilities accounted for at fair value, on a recurring basis, as of June 30, 2016 by level in the fair value hierarchy. There were no assets or liabilities that were measured at fair value on a nonrecurring basis as of June 30, 2016.
 
June 30, 2016
(in millions)
Level 1
 
Level 2
 
Level 3
 
Netting and
Collateral
(1)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Unrestricted cash equivalents - certificate of deposits
$
4.1

 
$
—

 
$
—

 
$
—

 
$
4.1

Commodities warehouse receipts
33.9

 
—

 
—

 
—

 
33.9

U.S. government obligations
—

 
597.4

 
—

 
—

 
597.4

Securities and other assets segregated under federal and other regulations
33.9

 
597.4

 
—

 
—

 
631.3

Money market funds
713.9

 
—

 
—

 
—

 
713.9

U.S. government obligations
—

 
320.1

 
—

 
—

 
320.1

Derivatives
2,691.9

 
—

 
—

 
(2,643.9
)
 
48.0

Deposits with and receivables from exchange-clearing organizations
3,405.8

 
320.1

 
—

 
(2,643.9
)
 
1,082.0

"To be announced" (TBA) and forward settling securities
—

 
3.4

 
—

 
(1.9
)
 
1.5

Derivatives
—

 
345.8

 
—

 
(362.1
)
 
(16.3
)
Deposits with and receivables from broker-dealers, clearing organizations and counterparties
—

 
349.2

 
—

 
(364.0
)
 
(14.8
)
Common and preferred stock and American Depositary Receipts (“ADRs”)
29.4

 
2.4

 
0.3

 
—

 
32.1

Exchangeable foreign ordinary equities and ADRs
17.5

 
1.9

 
—

 
—

 
19.4

Corporate and municipal bonds
30.7

 
0.9

 
3.0

 
—

 
34.6

U.S. government obligations
—

 
689.9

 
—

 
—

 
689.9

Foreign government obligations
—

 
12.4

 
—

 
—

 
12.4

Mortgage-backed securities
—

 
907.4

 
—

 
—

 
907.4

Derivatives
364.1

 
3,179.5

 
—

 
(3,307.4
)
 
236.2

Commodities leases
—

 
197.1

 
—

 
(166.7
)
 
30.4

Exchange firm common stock
5.9

 
—

 
—

 
—

 
5.9

Mutual funds and other
8.9

 
—

 
—

 
—

 
8.9

Financial instruments owned
456.5

 
4,991.5

 
3.3

 
(3,474.1
)
 
1,977.2

Physical commodities inventory
40.6

 
—

 
—

 
—

 
40.6

Total assets at fair value
$
3,940.9

 
$
6,258.2

 
$
3.3

 
$
(6,482.0
)
 
$
3,720.4

Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other accrued liabilities - contingent liabilities
$
—

 
$
—

 
$
0.8

 
$
—

 
$
0.8

TBA and forward settling securities
—

 
5.4

 
—

 
(1.9
)
 
3.5

Derivatives
2,572.5

 
379.5

 
—

 
(2,952.0
)
 
—

Payable to broker-dealers, clearing organizations and counterparties
2,572.5

 
384.9

 
—

 
(2,953.9
)
 
3.5

Common and preferred stock and ADRs
21.2

 
0.2

 
—

 
—

 
21.4

Exchangeable foreign ordinary equities and ADRs
18.2

 
1.4

 
—

 
—

 
19.6

Corporate and municipal bonds


 
0.1

 
—

 
—

 
0.1

U.S. government obligations
—

 
544.9

 
—

 
—

 
544.9

Derivatives
348.8

 
3,007.0

 
—

 
(3,130.3
)
 
225.5

Commodities leases
—

 
160.8

 
—

 
(100.7
)
 
60.1

Financial instruments sold, not yet purchased
388.2

 
3,714.4

 
—

 
(3,231.0
)
 
871.6

Total liabilities at fair value
$
2,960.7

 
$
4,099.3

 
$
0.8

 
$
(6,184.9
)
 
$
875.9

 
(1)
Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level is included in that level.


The following table sets forth the Company’s financial and nonfinancial assets and liabilities accounted for at fair value, on a recurring basis, as of September 30, 2015 by level in the fair value hierarchy.
 
September 30, 2015
(in millions)
Level 1
 
Level 2
 
Level 3
 
Netting and
Collateral
(1)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Unrestricted cash equivalents - certificates of deposits
$
1.3

 
$
—

 
$
—

 
$
—

 
$
1.3

Commodities warehouse receipts
22.1

 
—

 
—

 
—

 
22.1

U.S. government obligations
—

 
493.4

 
—

 
—

 
493.4

Securities and other assets segregated under federal and other regulations
22.1

 
493.4

 
—

 
—

 
515.5

Money market funds
431.8

 
—

 
—

 
—

 
431.8

U.S. government obligations
—

 
501.4

 
—

 
—

 
501.4

Derivatives
3,615.9

 
—

 
—

 
(3,539.7
)
 
76.2

Deposits with and receivables from exchange-clearing organizations
4,047.7

 
501.4

 
—

 
(3,539.7
)
 
1,009.4

TBA and forward settling securities
—

 
1.2

 
—

 
(1.0
)
 
0.2

Derivatives
0.1

 
537.9

 
—

 
(591.1
)
 
(53.1
)
Deposits with and receivables from broker-dealers, clearing organizations and counterparties
0.1

 
539.1

 
—

 
(592.1
)
 
(52.9
)
Common and preferred stock and ADRs
23.7

 
1.9

 
0.5

 
—

 
26.1

Exchangeable foreign ordinary equities and ADRs
82.9

 
6.6

 
—

 
—

 
89.5

Corporate and municipal bonds
26.1

 
2.0

 
3.2

 
—

 
31.3

U.S. government obligations
—

 
513.4

 
—

 
—

 
513.4

Foreign government obligations
—

 
12.1

 
—

 
—

 
12.1

Mortgage-backed securities
—

 
699.5

 
—

 
—

 
699.5

Derivatives
278.5

 
1,702.0

 
—

 
(1,949.9
)
 
30.6

Commodities leases
—

 
64.6

 
—

 
(57.0
)
 
7.6

Commodities warehouse receipts
2.8

 
—

 
—

 
—

 
2.8

Exchange firm common stock
5.6

 
—

 
—

 
—

 
5.6

Mutual funds and other
3.4

 
—

 
—

 
—

 
3.4

Financial instruments owned
423.0

 
3,002.1

 
3.7

 
(2,006.9
)
 
1,421.9

Physical commodities inventory, net - precious metals
15.2

 
—

 
—

 
—

 
15.2

Total assets at fair value
$
4,509.4

 
$
4,536.0

 
$
3.7

 
$
(6,138.7
)
 
$
2,910.4

Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other accrued liabilities - contingent liabilities
$
—

 
$
—

 
$
3.3

 
$
—

 
$
3.3

TBA and forward settling securities
—

 
2.6

 
—

 
(1.0
)
 
1.6

Derivatives
3,491.3

 
528.7

 
—

 
(4,020.0
)
 
—

Payable to broker-dealers, clearing organizations and counterparties
3,491.3

 
531.3

 
—

 
(4,021.0
)
 
1.6

Common and preferred stock and ADRs
18.0

 
0.6

 
—

 
—

 
18.6

Exchangeable foreign ordinary equities and ADRs
89.0

 
1.0

 
—

 
—

 
90.0

U.S. government obligations
—

 
341.0

 
—

 
—

 
341.0

Foreign government obligations
—

 
6.4

 
—

 
—

 
6.4

Mortgage-backed securities
—

 
2.8

 
—

 
—

 
2.8

Derivatives
264.0

 
1,723.5

 
—

 
(1,933.4
)
 
54.1

Commodities leases
—

 
99.1

 
—

 
(43.7
)
 
55.4

Financial instruments sold, not yet purchased
371.0

 
2,174.4

 
—

 
(1,977.1
)
 
568.3

Total liabilities at fair value
$
3,862.3

 
$
2,705.7

 
$
3.3

 
$
(5,998.1
)
 
$
573.2

(1)
Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level is included in that level.
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Information on Level 3 Financial Assets and Liabilities
The Company’s financial assets at fair value classified in level 3 of the fair value hierarchy as of June 30, 2016 and September 30, 2015 are summarized below:
(in millions)
June 30, 2016
 
September 30, 2015
Total level 3 assets
$
3.3

 
$
3.7

Level 3 assets for which the Company bears economic exposure
$
3.3

 
$
3.7

Total assets
$
6,065.9

 
$
5,070.0

Total assets at fair value
$
3,720.4

 
$
2,910.4

Total level 3 assets as a percentage of total assets
0.1
%
 
0.1
%
Level 3 assets for which the Company bears economic exposure as a percentage of total assets
0.1
%
 
0.1
%
Total level 3 assets as a percentage of total financial assets at fair value
0.1
%
 
0.1
%
The following tables set forth a summary of changes in the fair value of the Company’s level 3 financial assets and liabilities during the three and nine months ended June 30, 2016 and 2015, including a summary of unrealized gains (losses) during the respective periods on the Company’s level 3 financial assets and liabilities still held as of June 30, 2016.
 
Level 3 Financial Assets and Financial Liabilities For the Three Months Ended June 30, 2016
(in millions)
Balances at
beginning of
period
 
Realized gains
(losses) during
period
 
Unrealized
gains (losses)
during period
 
Purchases/issuances
 
Settlements
 
Transfers in
or (out) of
Level 3
 
Balances at
end of period
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Common stock and ADRs
$
0.3

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
0.3

Corporate and municipal bonds
3.3

 
—

 
(0.3
)
 
—

 
—

 
—

 
3.0

 
$
3.6

 
$
—

 
$
(0.3
)
 
$
—

 
$
—

 
$
—

 
$
3.3

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent liabilities
$
1.5

 
$
—

 
$
—

 
$
—

 
$
(0.7
)
 
$
—

 
$
0.8


 
Level 3 Financial Assets and Financial Liabilities For the Nine Months Ended June 30, 2016
(in millions)
Balances at
beginning of
period
 
Realized gains
(losses) during
period
 
Unrealized
gains (losses)
during period
 
Purchases/issuances
 
Settlements
 
Transfers in
or (out) of
Level 3
 
Balances at
end of period
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Common stock and ADRs
$
0.5

 
$
—

 
$
(0.2
)
 
$
—

 
$
—

 
$
—

 
$
0.3

Corporate and municipal bonds
3.2

 
—

 
(0.2
)
 
—

 
—

 
—

 
3.0

 
$
3.7

 
$
—

 
$
(0.4
)
 
$
—

 
$
—

 
$
—

 
$
3.3

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent liabilities
$
3.3

 
$
—

 
$
0.3

 
$
—

 
$
(2.8
)
 
$
—

 
$
0.8

 
Level 3 Financial Assets and Financial Liabilities For the Three Months Ended June 30, 2015
(in millions)
Balances at
beginning of
period
 
Realized gains
(losses) during
period
 
Unrealized
gains (losses)
during period
 
Purchases/issuances
 
Settlements
 
Transfers in
or (out) of
Level 3
 
Balances at
end of period
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Common stock and ADRs
$
0.5

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
0.5

Corporate and municipal bonds
3.6

 
—

 
(0.1
)
 
—

 
—

 
—

 
3.5

 
$
4.1

 
$
—

 
$
(0.1
)
 
$
—

 
$
—

 
$
—

 
$
4.0

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent liabilities
$
3.1

 
$
—

 
$
0.2

 
$
—

 
$
—

 
$
—

 
$
3.3

 
Level 3 Financial Assets and Financial Liabilities For the Nine Months Ended June 30, 2015
(in millions)
Balances at
beginning of
period
 
Realized gains
(losses) during
period
 
Unrealized
gains (losses)
during period
 
Purchases/issuances
 
Settlements
 
Transfers in
or (out) of
Level 3
 
Balances at
end of period
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Common stock and ADRs
$
0.7

 
$
—

 
$
(0.2
)
 
$
—

 
$
—

 
$
—

 
$
0.5

Corporate and municipal bonds
3.6

 
—

 
(0.1
)
 
—

 
—

 
—

 
3.5

 
$
4.3

 
$
—

 
$
(0.3
)
 
$
—

 
$
—

 
$
—

 
$
4.0

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent liabilities
$
5.5

 
$
—

 
$
0.4

 
$
1.5

 
$
(4.1
)
 
$
—

 
$
3.3