Assets and Liabilities, at Fair Value (Tables)

9 Months Ended

Jun. 30, 2020

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, 2020 by level in the fair value hierarchy.

	June 30, 2020
(in millions)	Level 1		Level 2		Level 3		Netting (1)			Total
Assets:
Certificates of deposit	$	2.7	$	—	$	—	$	—		$	2.7
Money market mutual funds	11.4		—		—		—			11.4
Cash and cash equivalents	14.1		—		—		—			14.1
Commodities warehouse receipts	9.6		—		—		—			9.6
U.S. Treasury obligations	0.2		—		—		—			0.2
Securities and other assets segregated under federal and other regulations	9.8		—		—		—			9.8
U.S. Treasury obligations	1,148.4		—		—		—			1,148.4
To be announced ("TBA") and forward settling securities	—		12.2		—		(5.3		)	6.9
Foreign government obligations	8.2		—		—		—			8.2
Derivatives	2,876.9		13.7		—		(2,792.5		)	98.1
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net	4,033.5		25.9		—		(2,797.8		)	1,261.6
Equity securities	248.7		12.0		—		—			260.7
Corporate and municipal bonds	—		75.4		—		—			75.4
U.S. Treasury obligations	372.5		—		—		—			372.5
U.S. government agency obligations	—		347.8		—		—			347.8
Foreign government obligations	12.6		—		—		—			12.6
Agency mortgage-backed obligations	—		1,558.3		—		—			1,558.3
Asset-backed obligations	—		19.4		—		—			19.4
Derivatives	0.5		971.9		—		(880.0		)	92.4
Commodities leases	—		23.2		—		—			23.2
Commodities warehouse receipts	56.4		—		—		—			56.4
Exchange firm common stock	9.8		—		—		—			9.8
Mutual funds and other	3.4		—		—		—			3.4
Financial instruments owned	703.9		3,008.0		—		(880.0		)	2,831.9
Physical commodities inventory	19.8		153.8		—		—			173.6
Total assets at fair value	$	4,781.1	$	3,187.7	$	—	$	(3,677.8	)	$	4,291.0
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities	—		—		1.6		—			1.6
TBA and forward settling securities	—		12.6		—		(5.3		)	7.3
Derivatives	2,773.9		169.3		—		(2,941.7		)	1.5
Payable to broker-dealers, clearing organizations and counterparties	2,773.9		181.9		—		(2,947.0		)	8.8
Equity securities	202.2		15.4		—		—			217.6
Foreign government obligations	2.2		—		—		—			2.2
Corporate and municipal bonds	—		26.1		—		—			26.1
U.S. Treasury obligations	354.1		—		—		—			354.1
U.S. government agency obligations	—		6.1		—		—			6.1
Agency mortgage-backed obligations	—		21.1		—		—			21.1
Derivatives	—		937.0		—		(838.3		)	98.7
Commodities leases	—		2.4		—		—			2.4
Financial instruments sold, not yet purchased	558.5		1,008.1		—		(838.3		)	728.3
Total liabilities at fair value	$	3,332.4	$	1,190.0	$	1.6	$	(3,785.3	)	$	738.7

 

(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, 2019 by level in the fair value hierarchy.

	September 30, 2019
(in millions)	Level 1		Level 2		Level 3		Netting (1)			Total
Assets:
Certificates of deposit	$	4.9	$	—	$	—	$	—		$	4.9
Money market mutual funds	8.9		—		—		—			8.9
Cash and cash equivalents	13.8		—		—		—			13.8
Commodities warehouse receipts	6.2		—		—		—			6.2
U.S. Treasury obligations	299.8		—		—		—			299.8
Securities and other assets segregated under federal and other regulations	306.0		—		—		—			306.0
U.S. Treasury obligations	593.9		—		—		—			593.9
TBA and forward settling securities	—		9.8		—		(1.5		)	8.3
Foreign government obligations	9.9		—		—		—			9.9
Derivatives	3,131.2		43.2		—		(3,159.6		)	14.8
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net	3,735.0		53.0		—		(3,161.1		)	626.9
Equity securities	159.5		9.0		—		—			168.5
Corporate and municipal bonds	—		80.0		—		—			80.0
U.S. Treasury obligations	248.7		—		—		—			248.7
U.S. government agency obligations	—		447.1		—		—			447.1
Foreign government obligations	0.5		—		—		—			0.5
Agency mortgage-backed obligations	—		1,045.0		—		—			1,045.0
Asset-backed obligations	—		29.1		—		—			29.1
Derivatives	1.0		486.3		—		(420.8		)	66.5
Commodities leases	—		28.6		—		—			28.6
Commodities warehouse receipts	48.4		—		—		—			48.4
Exchange firm common stock	12.7		—		—		—			12.7
Mutual funds and other	0.1		—		—		—			0.1
Financial instruments owned	470.9		2,125.1		—		(420.8		)	2,175.2
Physical commodities inventory	7.1		144.8		—		—			151.9
Total assets at fair value	$	4,532.8	$	2,322.9	$	—	$	(3,581.9	)	$	3,273.8
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities	$	—	$	—	$	1.8	$	—		$	1.8
TBA and forward settling securities	—		6.8		—		(1.5		)	5.3
Derivatives	3,079.1		38.3		—		(3,117.1		)	0.3
Payable to broker-dealers, clearing organizations and counterparties	3,079.1		45.1		—		(3,118.6		)	5.6
Equity securities	147.3		10.8		—		—			158.1
Corporate and municipal bonds	—		39.2		—		—			39.2
U.S. Treasury obligations	272.3		—		—		—			272.3
U.S. government agency obligations	—		43.8		—		—			43.8
Agency mortgage-backed obligations	—		29.6		—		—			29.6
Derivatives	—		480.3		—		(422.2		)	58.1
Commodities leases	—		113.7		—		—			113.7
Financial instruments sold, not yet purchased	419.6		717.4		—		(422.2		)	714.8
Total liabilities at fair value	$	3,498.7	$	762.5	$	1.8	$	(3,540.8	)	$	722.2

(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.