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 December 31, 2018 by level in the fair value hierarchy.



	December 31, 2018
(in millions)	Level 1		Level 2		Level 3		Netting and Collateral (1)			Total
Assets:
Unrestricted cash equivalents - certificate of deposits	$	4.8	$	—	$	—	$	—		$	4.8
Commodities warehouse receipts	13.5		—		—		—			13.5
U.S. Treasury obligations	299.4		—		—		—			299.4
Securities and other assets segregated under federal and other regulations	312.9		—		—		—			312.9
U.S. Treasury obligations	623.1		—		—		—			623.1
"To be announced" (TBA) and forward settling securities	—		6.5		—		—			6.5
Foreign government obligations	10.2		—		—		—			10.2
Derivatives	5,275.0		2.2		—		(5,609.7		)	(332.5		)
Deposits with and receivables from broker-dealers, clearing organization and counterparties	5,908.3		8.7		—		(5,609.7		)	307.3
Equity securities	140.0		5.1		—		—			145.1
Corporate and municipal bonds	—		74.8		—		—			74.8
U.S. Treasury obligations	239.2		—		—		—			239.2
U.S. government agency obligations	—		328.4		—		—			328.4
Foreign government obligations	2.3		—		—		—			2.3
Agency mortgage-backed obligations	—		1,047.1		—		—			1,047.1
Asset-backed obligations	—		39.2		—		—			39.2
Derivatives	1.5		563.6		—		(425.8		)	139.3
Commodities leases	—		34.7		—		(15.2		)	19.5
Commodities warehouse receipts	4.3		—		—		—			4.3
Exchange firm common stock	11.3		—		—		—			11.3
Mutual funds and other	4.0		—		—		—			4.0
Financial instruments owned	402.6		2,092.9		—		(441.0		)	2,054.5
Physical commodities inventory, net	13.3		151.1		—		—			164.4
Total assets at fair value	$	6,641.9	$	2,252.7	$	—	$	(6,050.7	)	$	2,843.9
Liabilities:
TBA and forward settling securities	—		12.7		—		—			12.7
Derivatives	5,612.2		7.7		—		(5,619.9		)	—
Payable to broker-dealers, clearing organizations and counterparties	5,612.2		20.4		—		(5,619.9		)	12.7
Equity securities	153.2		3.6		—		—			156.8
Foreign government obligations	2.0		—		—		—			2.0
Corporate and municipal bonds	—		14.1		—		—			14.1
U.S. Treasury obligations	325.1		—		—		—			325.1
U.S. government agency obligations	—		144.6		—		—			144.6
Agency mortgage-backed obligations	—		1.2		—		—			1.2
Derivatives	—		644.3		—		(501.7		)	142.6
Commodities leases	—		70.8		—		(17.5		)	53.3
Financial instruments sold, not yet purchased	480.3		878.6		—		(519.2		)	839.7
Total liabilities at fair value	$	6,092.5	$	899.0	$	—	$	(6,139.1	)	$	852.4


(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, 2018 by level in the fair value hierarchy.



	September 30, 2018
(in millions)	Level 1		Level 2		Level 3		Netting and Collateral (1)			Total
Assets:
Unrestricted cash equivalents - certificates of deposits	$	3.8	$	—	$	—	$	—		$	3.8
Commodities warehouse receipts	42.9		—		—		—			42.9
U.S. Treasury obligations	600.4		—		—		—			600.4
Securities and other assets segregated under federal and other regulations	643.3		—		—		—			643.3
U.S. Treasury obligations	778.4		—		—		—			778.4
TBA and forward settling securities	—		5.0		—		(2.1		)	2.9
Foreign government obligations	7.7		—		—		—			7.7
Derivatives	7,495.9		19.6		—		(7,787.1		)	(271.6		)
Deposits with and receivables from broker-dealers, clearing organizations, and counterparties	8,282.0		24.6		—		(7,789.2		)	517.4
Equity securities	71.2		3.0		—		—			74.2
Corporate and municipal bonds	—		79.1		—		—			79.1
U.S. Treasury obligations	120.1		—		—		—			120.1
U.S. government agency obligations	—		472.9		—					472.9
Foreign government obligations	6.4		—		—		—			6.4
Agency mortgage-backed obligations	—		1,022.5		—		—			1,022.5
Asset-backed obligations	—		42.9		—		—			42.9
Derivatives	0.8		514.6		—		(329.3		)	186.1
Commodities leases	—		29.5		—		(11.8		)	17.7
Commodities warehouse receipts	16.4		—		—		—			16.4
Exchange firm common stock	10.2		—		—		—			10.2
Mutual funds and other	6.3		—		—		—			6.3
Financial instruments owned	231.4		2,164.5		—		(341.1		)	2,054.8
Physical commodities inventory, net	42.1		114.8		—		—			156.9
Total assets at fair value	$	9,202.6	$	2,303.9	$	—	$	(8,130.3	)	$	3,376.2
Liabilities:
TBA and forward settling securities	—		2.1		—		(2.1		)	—
Derivatives	7,809.3		11.6		—		(7,820.9		)	—
Payable to broker-dealers, clearing organizations and counterparties	7,809.3		13.7		—		(7,823.0		)	—
Equity securities	51.1		0.4		—		—			51.5
Corporate and municipal bonds	—		20.1		—		—			20.1
U.S. Treasury obligations	484.8		—		—		—			484.8
U.S. government agency obligations	—		57.2		—		—			57.2
Agency mortgage-backed obligations	—		0.2		—		—			0.2
Derivatives	—		688.0		—		(494.6		)	193.4
Commodities leases	—		75.5		—		(16.2		)	59.3
Financial instruments sold, not yet purchased	535.9		841.4		—		(510.8		)	866.5
Total liabilities at fair value	$	8,345.2	$	855.1	$	—	$	(8,333.8	)	$	866.5


(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.