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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 6 Months Ended
Mar. 31, 2018
Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
Listed below are the fair values of the Company’s derivative assets and liabilities as of March 31, 2018 and September 30, 2017. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 
March 31, 2018
 
September 30, 2017
(in millions)
Assets (1)
 
Liabilities (1)
 
Assets (1)
 
Liabilities (1)
Derivative contracts not accounted for as hedges:
 
 
 
 
 
 
 
Exchange-traded commodity derivatives
$
2,624.2

 
$
2,940.3

 
$
2,094.2

 
$
1,975.0

OTC commodity derivatives
513.9

 
523.9

 
1,084.0

 
1,110.3

Exchange-traded foreign exchange derivatives
107.1

 
59.7

 
66.0

 
52.0

OTC foreign exchange derivatives
254.6

 
266.9

 
618.5

 
609.8

Exchange-traded interest rate derivatives
732.6

 
615.9

 
228.4

 
203.6

OTC interest rate derivatives
31.8

 
31.7

 
—

 
—

Exchange traded equity index derivatives
236.2

 
230.2

 
221.3

 
245.4

TBA and forward settling securities
4.9

 
5.8

 
8.8

 
4.9

Gross fair value of derivative contracts
4,505.3

 
4,674.4

 
4,321.2

 
4,201.0

Impact of netting and collateral
(4,342.2
)
 
(4,492.1
)
 
(4,205.5
)
 
(3,879.2
)
Total fair value included in ‘Deposits with and receivables from broker-dealers, clearing organizations, and counterparties’
$
(5.4
)
 
 
 
$
(46.4
)
 
 
Total fair value included in ‘Financial instruments owned, at fair value’
$
168.5

 
 
 
$
162.1

 
 
Total fair value included in ‘Payables to broker-dealers, clearing organizations and counterparties
 
 
$
5.7

 
 
 
$
4.8

Fair value included in ‘Financial instruments sold, not yet purchased, at fair value’
 
 
$
176.6

 
 
 
$
317.0

(1)
As of March 31, 2018 and September 30, 2017, the Company’s derivative contract volume for open positions were approximately 9.2 million and 6.1 million contracts, respectively.
The Company’s derivative contracts are principally held in its Commercial Hedging and Clearing and Execution Services segments. The Company assists its Commercial Hedging segment customers in protecting the value of their future production by entering into option or forward agreements with them on an OTC basis. The Company also provides its Commercial Hedging segment customers with option products, including combinations of buying and selling puts and calls. The Company mitigates its risk by offsetting the customer’s transaction simultaneously with one of the Company’s trading counterparties or with a similar but not identical exchange-traded position. The risk mitigation of these offsetting trades is not within the documented hedging designation requirements of the Derivatives and Hedging Topic of the ASC. These derivative contracts are traded along with cash transactions because of the integrated nature of the markets for these products. The Company manages the risks associated with derivatives on an aggregate basis along with the risks associated with its proprietary trading and market-making activities in cash instruments as part of its firm-wide risk management policies. In particular, the risks related to derivative positions may be partially offset by inventory, unrealized gains in inventory or cash collateral paid or received.
The Company has derivative instruments, which consist of mortgage-backed TBA securities and forward settling transactions that are used to manage risk exposures in the trading inventory of the Company’s domestic institutional fixed income business. The fair value on these transactions are recorded in deposits with and receivables from or payables to broker-dealers, clearing organizations and counterparties. Realized and unrealized gains and losses on securities and derivative transactions are reflected in ‘trading gains, net’.
As of March 31, 2018 and September 30, 2017, these transactions are summarized as follows:
 
March 31, 2018
 
September 30, 2017
(in millions)
Gain / (Loss)
 
Notional Amounts
 
Gain / (Loss)
 
Notional Amounts
Unrealized gain on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts (1)
$
2.9

 
$
832.5

 
$
—

 
$
51.3

Unrealized loss on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts (1)
$
—

 
$
49.9

 
$
(2.9
)
 
$
1,236.8

Unrealized gain on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts (1)
$
0.1

 
$
(118.7
)
 
$
5.8

 
$
(1,881.9
)
Unrealized loss on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts (1)
$
(5.8
)
 
$
(1,611.1
)
 
$
(0.1
)
 
$
(404.1
)
Unrealized gain (loss) on forward settling securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts
$
0.3

 
$
410.9

 
$
(2.0
)
 
$
882.9

Unrealized gain on forward settling securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts
$
1.8

 
$
(308.1
)
 
$
3.0

 
$
(590.2
)
(1) The notional amounts of these instruments reflect the extent of the Company's involvement in TBA and forward settling securities and do not represent risk of loss due to counterparty non-performance.
 
 
 
 
 
 
 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following table sets forth the Company’s gains (losses) related to derivative financial instruments for the three and six months ended March 31, 2018 and 2017 in accordance with the Derivatives and Hedging Topic of the ASC. The net gains set forth below are included in ‘Cost of sales of physical commodities’ and ‘Trading gains, net’ in the condensed consolidated income statements.
 
Three Months Ended March 31,
 
Six Months Ended March 31,
(in millions)
2018
 
2017
 
2018
 
2017
Commodities
$
12.3

 
$
13.9

 
$
33.8

 
$
18.8

Foreign exchange
2.5

 
0.8

 
4.8

 
2.0

Interest rate
0.2

 
—

 
0.6

 
(1.0
)
TBA and forward settling securities
10.7

 
(4.9
)
 
10.3

 
8.5

Net gains from derivative contracts
$
25.7

 
$
9.8

 
$
49.5

 
$
28.3