Assets and Liabilities, at Fair Value (Tables)

12 Months Ended

Sep. 30, 2021

Fair Value, Assets Measured on Recurring Basis

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 September 30, 2021 and 2020 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of September 30, 2021 and 2020.


	September 30, 2021
(in millions)	Level 1		Level 2		Level 3		Netting (1)		Total
Assets:
Certificates of deposit	$	7.9	$	—	$	—	$	—	$	7.9
Money market mutual funds	12.9		—		—		—		12.9
Cash and cash equivalents	20.8		—		—		—		20.8
Commodities warehouse receipts	13.9		—		—		—		13.9
U.S. Treasury obligations	0.2		—		—		—		0.2
Securities and other assets segregated under federal and other regulations	14.1		—		—		—		14.1
U.S. Treasury obligations	798.5		—		—		—		798.5
To be announced ("TBA") and forward settling securities	—		59.1		—		(40.1)		19.0
Foreign government obligations	12.2		—		—		—		12.2
Derivatives	4,475.8		167.4		—		(4,402.3)		240.9
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net	5,286.5		226.5		—		(4,442.4)		1,070.6
Receivables from clients, net - Derivatives	—		413.7				(411.1)		2.6
Equity securities	512.4		14.6		—		—		527.0
Corporate and municipal bonds	—		150.8		—		—		150.8
U.S. Treasury obligations	433.1		—		—		—		433.1
U.S. government agency obligations	—		327.6		—		—		327.6

Agency mortgage-backed obligations	—		2,599.8		—		—		2,599.8
Asset-backed obligations	—		110.4		—		—		110.4
Derivatives	0.6		644.1		—		(500.4)		144.3
Commodities leases	—		18.1		—		—		18.1
Commodities warehouse receipts	21.4		—		—		—		21.4
Exchange firm common stock	11.6		—		—		—		11.6
Mutual funds and other	10.5		—		—		—		10.5
Financial instruments owned	989.6		3,865.4		—		(500.4)		4,354.6
Physical commodities inventory	111.2		248.7		—		—		359.9
Total assets at fair value	$	6,422.2	$	4,754.3	$	—	$	(5,353.9)	$	5,822.6
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities	$	—	$	—	$	2.8	$	—	$	2.8
Payables to clients - Derivatives	4,413.8		156.1		—		(4,278.4)		291.5
TBA and forward settling securities	—		52.2		—		(39.5)		12.7
Derivatives	63.1		239.4		—		(302.5)		—
Payable to broker-dealers, clearing organizations and counterparties	63.1		291.6		—		(342.0)		12.7
Equity securities	429.9		6.2		—		—		436.1

Corporate and municipal bonds	—		51.1		—		—		51.1
U.S. Treasury obligations	851.2		—		—		—		851.2

Agency mortgage-backed obligations	—		63.4		—		—		63.4
Derivatives	3.2		700.3		—		(335.0)		368.5
Commodities leases	—		0.9		—		—		0.9
Financial instruments sold, not yet purchased	1,284.3		821.9		—		(335.0)		1,771.2
Total liabilities at fair value	$	5,761.2	$	1,269.6	$	2.8	$	(4,955.4)	$	2,078.2

(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 are included in that level.


	September 30, 2020
(in millions)	Level 1		Level 2		Level 3		Netting (1)		Total
Assets:
Certificates of deposit	$	3.2	$	—	$	—	$	—	$	3.2
Money market mutual funds	12.8		—		—		—		12.8
Cash and cash equivalents	16.0		—		—		—		16.0
Commodities warehouse receipts	2.4		—		—		—		2.4
U.S. Treasury obligations	0.2		—		—		—		0.2
Securities and other assets segregated under federal and other regulations	2.6		—		—		—		2.6
U.S. Treasury obligations	1,941.3		—		—		—		1,941.3
TBA and forward settling securities	—		31.0		—		(11.8)		19.2
Foreign government obligations	8.0		—		—		—		8.0
Derivatives	1,949.0		395.8		—		(2,537.5)		(192.7)
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net	3,898.3		426.8		—		(2,549.3)		1,775.8
Receivables from clients, net - Derivatives	—		235.6		—		(234.1)		1.5
Equity securities	254.9		9.4		—		—		264.3
Corporate and municipal bonds	—		66.9		—		—		66.9
U.S. Treasury obligations	419.9		—		—		—		419.9
U.S. government agency obligations	—		293.4		—		—		293.4
Foreign government obligations	2.5		—		—		—		2.5
Agency mortgage-backed obligations	—		1,384.6		—		—		1,384.6
Asset-backed obligations	—		33.0		—		—		33.0
Derivatives	0.7		652.3		—		(535.6)		117.4
Commodities leases	—		24.9		—		—		24.9
Commodities warehouse receipts	103.2		—		—		—		103.2
Exchange firm common stock	10.1		—		—		—		10.1
Mutual funds and other	7.5		—		—		—		7.5
Financial instruments owned	798.8		2,464.5		—		(535.6)		2,727.7
Physical commodities inventory	26.8		188.9		—		—		215.7
Total assets at fair value	$	4,742.5	$	3,315.8	$	—	$	(3,319.0)	$	4,739.3
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities	$	—	$	—	$	1.5	$	—	$	1.5
Payables to clients - Derivatives	2,000.8		176.4		—		(2,399.9)		(222.7)
TBA and forward settling securities	—		22.0		—		(11.8)		10.2
Derivatives	—		306.7		—		(302.2)		4.5
Payable to broker-dealers, clearing organizations and counterparties	—		328.7		—		(314.0)		14.7
Equity securities	218.0		14.9		—		—		232.9
Corporate and municipal bonds	—		22.5		—		—		22.5
U.S. Treasury obligations	247.5		—		—		—		247.5
U.S. government agency obligations	—		0.1		—		—		0.1
Agency mortgage-backed obligations	—		5.1		—		—		5.1
Derivatives	—		563.6		—		(386.8)		176.8
Commodities leases	—		1.1		—		—		1.1
Financial instruments sold, not yet purchased	465.5		607.3		—		(386.8)		686.0
Total liabilities at fair value	$	2,466.3	$	1,112.4	$	1.5	$	(3,100.7)	$	479.5

(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 are included in that level.