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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 12 Months Ended
Sep. 30, 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 September 30, 2021 and 2020. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 September 30, 2021September 30, 2020
(in millions)
Assets (1)
Liabilities (1)
Assets (1)
Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives$3,904.1 $3,904.7 $1,637.2 $1,747.3 
OTC commodity derivatives803.4 761.3 553.9 433.2 
Exchange-traded foreign exchange derivatives119.9 119.9 9.3 13.0 
OTC foreign exchange derivatives216.9 185.5 520.8 461.5 
Exchange-traded interest rate derivatives245.9 249.0 271.1 200.7 
OTC interest rate derivatives56.4 54.9 96.0 96.6 
Exchange-traded equity index derivatives206.5 206.5 32.1 39.8 
OTC equity and indices derivatives148.5 94.1 113.0 55.4 
TBA and forward settling securities59.1 52.2 31.0 22.0 
Gross fair value of derivative contracts5,760.7 5,628.1 3,264.4 3,069.5 
Impact of netting and collateral $(5,353.9)$(4,955.4)$(3,319.0)$(3,100.7)
Total fair value included in Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$259.9 $(173.5)
Total fair value included in Receivables from clients, net
2.6 1.5 
Total fair value included in Financial instruments owned, at fair value
144.3 117.4 
Total fair value included in Payables to clients
$291.5 $(222.7)
Total fair value included in Payables to broker-dealers, clearing organizations and counterparties
12.7 14.7 
Fair value included in Financial instruments sold, not yet purchased, at fair value
368.5 176.8 
(1)As of September 30, 2021 and 2020, the Company’s derivative contract volume for open positions was approximately 11.1 million and 7.9 million contracts, respectively.
Schedule of Derivative Instruments Included in Trading Activities
As of September 30, 2021 and 2020, 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, 2021September 30, 2020
(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, net
$1.6 $1,453.4 $10.8 $5,389.3 
Unrealized loss on TBA securities purchased within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$— $— $(1.7)$2,647.7 
Unrealized loss on TBA securities purchased within Payables to broker-dealers, clearing organizations, and counterparties
$(37.6)$7,024.2 $— $— 
Unrealized gain on TBA securities sold within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$43.0 $(8,391.4)$— $— 
Unrealized gain on TBA securities sold within Payables to broker-dealers, clearing organizations, and counterparties
$— $— $2.8 $(2,978.7)
Unrealized loss on TBA securities sold within Payables to broker-dealers, clearing organizations, and counterparties
$(2.7)$(2,430.7)$(13.0)$(6,549.4)
Unrealized gain on forward settling securities purchased within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$0.3 $214.5 $— $— 
Unrealized loss on forward settling securities purchased within Payables to broker-dealers, clearing organizations, and counterparties
$(11.5)$2,580.7 $— $— 
Unrealized gain on forward settling securities sold within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$14.1 $(1,867.4)$17.4 $(1,946.0)
Unrealized loss on forward settling securities sold within Payables to broker-dealers, clearing organizations, and counterparties
$(0.4)$(133.1)$— $— 
Unrealized loss on forward settling securities purchased within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$— $— $(7.3)$2,447.10 
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 periods indicated, 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)202120202019
Commodities$207.8 $197.3 $100.8 
Foreign exchange116.3 38.2 8.1 
Interest rate, equities, and indices80.8 20.4 (2.6)
TBA and forward settling securities
(6.3)(49.7)(35.3)
Net gains from derivative contracts$398.6 $206.2 $71.0