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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 6 Months Ended
Mar. 31, 2021
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 March 31, 2021 and September 30, 2020. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 March 31, 2021September 30, 2020
(in millions)
Assets (1)
Liabilities (1)
Assets (1)
Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives$2,393.9 $2,325.0 $1,637.2 $1,747.3 
OTC commodity derivatives855.9 858.2 553.9 433.2 
Exchange-traded foreign exchange derivatives411.4 475.6 9.3 13.0 
OTC foreign exchange derivatives279.4 227.4 520.8 461.5 
Exchange-traded interest rate derivatives351.4 479.9 271.1 200.7 
OTC interest rate derivatives59.0 58.0 96.0 96.6 
Exchange-traded equity index derivatives82.5 51.6 32.1 39.8 
OTC equity and indices derivatives133.6 83.3 113.0 55.4 
TBA and forward settling securities54.9 47.5 31.0 22.0 
Gross fair value of derivative contracts$4,622.0 $4,606.5 $3,264.4 $3,069.5 
Impact of netting and collateral (4,527.6)(4,351.1)(3,319.0)(3,100.7)
Total fair value included in 'Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net' $(107.4)$(173.5)
Total fair value included in 'Receivables from clients, net'$1.0 $1.5 
Total fair value included in 'Financial instruments owned, at fair value'$200.8 $117.4 
Total fair value included in 'Payables to clients'$(178.2)$(222.7)
Total fair value included in 'Payables to broker-dealers, clearing organizations and counterparties’$43.7 $14.7 
Total fair value included in 'Financial instruments sold, not yet purchased, at fair value'$389.9 $176.8 
(1)As of March 31, 2021 and September 30, 2020, the Company’s derivative contract volume for open positions were approximately 10.7 million and 7.9 million contracts, respectively.
Schedule of Derivative Instruments Included in Trading Activities
As of March 31, 2021 and September 30, 2020, these transactions are summarized as follows:
March 31, 2021September 30, 2020
(in millions)Gain / (Loss)Notional AmountsGain / (Loss)Notional Amounts
(in millions)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 and related notional amounts $— $— $10.8 $5,389.3 
Unrealized loss on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts $— $— $(1.7)$2,647.7 
Unrealized gain on TBA securities purchased within payables to broker-dealers, clearing organizations and counterparties and related notional amounts$1.3 1,336.0 $— $— 
Unrealized loss on TBA securities purchased within payables to broker-dealers, clearing organizations and counterparties and related notional amounts$(45.0)$7,005.0 $— $— 
Unrealized gain on TBA securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts$52.2 $(8,409.0)$— $— 
Unrealized loss on TBA securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts$(1.5)$(1,688.0)$— $— 
Unrealized gain on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts $— $— $2.8 $(2,978.7)
Unrealized loss on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts $— $— $(13.0)$(6,549.4)
Unrealized gain on forward settling securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts $1.4 $(2,032.0)$17.4 $(1,946.0)
Unrealized loss on forward settling securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts $(1.0)$2,866.0 $(7.3)$2,447.1 
(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
The following table sets forth the Company’s net gains (losses) related to derivative financial instruments for the three months ended March 31, 2021 and 2020 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 condensed consolidated income statements.
Three Months Ended March 31,Six Months Ended March 31,
(in millions)2021202020212020
Commodities$59.0 $61.6 $63.2 $79.8 
Foreign exchange 25.5 5.1 61.5 7.3 
Interest rate, equities, and indices 30.6 — 43.2 (0.4)
TBA and forward settling securities8.6 (34.4)0.1 (35.3)
Net gains from derivative contracts$123.7 $32.3 $168.0 $51.4