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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 12 Months Ended
Sep. 30, 2020
Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract]  
Schedule of Derivative Instruments
Listed below are the fair values of the Company’s derivative assets and liabilities as of September 30, 2020 and September 30, 2019. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 September 30, 2020September 30, 2019
(in millions)
Assets (1)
Liabilities (1)
Assets (1)
Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives$1,637.2 $1,747.3 $1,437.1 $1,463.4 
OTC commodity derivatives553.9 433.2 84.2 106.2 
Exchange-traded foreign exchange derivatives9.3 13.0 36.9 33.5 
OTC foreign exchange derivatives520.8 461.5 403.2 368.8 
Exchange-traded interest rate derivatives271.1 200.7 900.1 882.0 
OTC interest rate derivatives96.0 96.6 42.1 43.6 
Exchange-traded equity index derivatives32.1 39.8 758.1 700.2 
OTC equity and indices derivatives 113.0 55.4 — — 
TBA and forward settling securities31.0 22.0 9.8 6.8 
Gross fair value of derivative contracts3,264.4 32644000003,069.5 3,671.5 3,604.5 
Impact of netting and collateral $(3,319.0)$(3,100.7)$(3,581.9)$(3,540.8)
Total fair value included in 'Deposits with and receivables from broker-dealers, clearing organizations, and counterparties,net' $(173.5)$23.1 
Total fair value included in 'Receivables from clients, net' $1.5$— 
Total fair value included in 'Financial instruments owned, at fair value$117.466.5
Total fair value included in 'Payables to clients' $(222.7)$— 
Total fair value included in 'Payables to broker-dealers, clearing organizations and counterparties$14.7 $5.6 
Total fair value included in 'Financial instruments sold, not yet purchased, at fair value' $176.8 $58.1 
(1)As of September 30, 2020 and September 30, 2019, the Company’s derivative contract volume for open positions was approximately 7.9 million and 10.6 million contracts, respectively.
Schedule of Derivative Instruments Included in Trading Activities
As of September 30, 2020 and September 30, 2019, TBA and forward settling securities recorded within deposits with and receivables from and payables to broker-dealers, clearing organizations, and counterparties are summarized as follows (in millions):
September 30, 2020September 30, 2019
Gain/(Loss)Notional AmountsGain/(Loss)Notional Amounts
Unrealized gain on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties, net and related notional amounts $10.8 $5,389.3 $3.7 $1,778.4 
Unrealized loss on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties, net and related notional amounts $(1.7)$2,647.7 $(0.6)$234.5 
Unrealized gain on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts $2.8 $(2,978.7)$0.9 $(451.6)
Unrealized loss on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts $(13.0)$(6,549.4)$(5.9)$(2,788.0)
Unrealized loss on forward settling securities purchased within payables to broker-dealers, clearing organizations and counterparties and related notional amounts $— $— $(0.3)$1,243.5 
Unrealized gain on forward settling securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties, net and related notional amounts $17.4 $(1,946.0)$5.2 $(581.2)
Unrealized loss on forward settling securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties, net and related notional amounts $(7.3)$2,447.1 $— $— 
The notional amounts of these instruments reflect the extent of the Company’s involvement in TBA and forward settling securities and do not represent counterparty exposure.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table sets forth the Company’s net gains (losses) related to derivative financial instruments for the fiscal years ended September 30, 2020, 2019, and 2018, in accordance with the Derivatives and Hedging Topic of the ASC. The net gains (losses) set forth below are included in ‘principal gains, net’ and ‘cost of sales of physical commodities’ in the consolidated income statements.
Year Ended September 30,
(in millions)202020192018
Commodities$197.3 $100.8 $94.0 
Foreign exchange38.2 8.1 9.2 
Interest rate, equities, and indices20.4 (2.6)1.0 
TBA and forward settling securities
(49.7)(35.3)14.5 
Net gains from derivative contracts$206.2 $71.0 $118.7