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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 6 Months Ended
Mar. 31, 2022
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, 2022 and September 30, 2021. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 March 31, 2022September 30, 2021
(in millions)
Assets (1)
Liabilities (1)
Assets (1)
Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives$5,901.8 $5,911.7 $3,904.1 $3,904.7 
OTC commodity derivatives1,276.5 1,205.0 803.4 761.3 
Exchange-traded foreign exchange derivatives109.5 109.5 119.9 119.9 
OTC foreign exchange derivatives645.9 577.4 216.9 185.5 
Exchange-traded interest rate derivatives3,431.1 3,435.1 245.9 249.0 
OTC interest rate derivatives83.5 76.2 56.4 54.9 
Exchange-traded equity index derivatives291.0 291.0 206.5 206.5 
OTC equity and indices derivatives144.7 92.8 148.5 94.1 
TBA and forward settling securities152.2 120.3 59.1 52.2 
Subtotal12,036.2 11,819.0 5,760.7 5,628.1 
Derivative contracts designated as hedging instruments:
Interest rate contracts— 24.3 — — 
Subtotal— 24.3 — — 
Gross fair value of derivative contracts$12,036.2 $11,843.3 $5,760.7 $5,628.1 
Impact of netting and collateral (11,962.5)(11,853.0)(5,353.9)(4,955.4)
Total fair value included in Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$(83.1)$259.9 
Total fair value included in Receivables from clients, net
$(15.5)$2.6 
Total fair value included in Financial instruments owned, at fair value
$172.3 $144.3 
Total fair value included in Payables to clients
$(546.1)$291.5 
Total fair value included in Payables to broker-dealers, clearing organizations and counterparties
$52.0 $12.7 
Total fair value included in Financial instruments sold, not yet purchased, at fair value
$484.4 $368.5 
(1)As of March 31, 2022 and September 30, 2021, the Company’s derivative contract volume for open positions was approximately 12.6 million and 11.1 million contracts, respectively.
Schedule of Fair Value of Derivative Instruments Designated for Hedging The fair values of derivative instruments designated for hedging held as of March 31, 2022 are as follow:
 March 31, 2022
(in millions)Balance Sheet LocationFair Value
Asset Derivatives
Derivatives designated as hedging instruments:
Interest rate contractsNA$— 
Total derivatives designated as hedging instruments$— 
Liability Derivatives
Derivatives designated as hedging instruments:
Interest rate contractsFinancial instruments sold, not yet purchased$24.3 
Total derivatives designated as hedging instruments$24.3 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The Condensed Consolidated Income Statement effects of derivative instruments designated for hedging held for the three and six months ended March 31, 2022 are as follow:
Three Months Ended March 31, 2022Six Months Ended March 31, 2022
(in millions)Interest IncomeInterest Income
Total amounts in income related to hedges
Interest rate contracts$1.6 $1.7 
Total derivatives designated as hedging instruments$1.6 $1.7 
Gain on cash flow hedging relationships:
Amount of gain reclassified from accumulated other comprehensive income into income$1.6 $1.7 
Amount of gain reclassified from accumulated other comprehensive income into income as a result of a forecasted transaction that is no longer probable of occurring$— $— 
The following table sets forth the Company’s net gains/(losses) related to derivative financial instruments for the three and six months ended March 31, 2022 and 2021 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)2022202120222021
Commodities$135.2 $59.0 $182.9 $63.2 
Foreign exchange 56.7 25.5 92.5 61.5 
Interest rate, equities, and indices 27.4 30.6 52.8 43.2 
TBA and forward settling securities94.1 8.6 92.0 0.1 
Net gains from derivative contracts$313.4 $123.7 $420.2 $168.0 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income
The accumulated other comprehensive income effects of derivative instruments designated for hedging held for the three and six months ended March 31, 2022 are as follow:

Three Months Ended March 31, 2022
(in millions)Amount of Loss Recognized in Other Comprehensive Income on Derivatives, net of tax
Location of Gain Reclassified from Accumulated Other Comprehensive Income into IncomeAmount of Gain Reclassified from Accumulated Other Comprehensive Income into Income
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts$18.1 Interest Income$1.6 
Total$18.1 $1.6 

Six Months Ended March 31, 2022
(in millions)Amount of Loss Recognized in Other Comprehensive Income on Derivatives, net of tax    
Location of Gain Reclassified from Accumulated Other Comprehensive Income into IncomeAmount of Gain Reclassified from Accumulated Other Comprehensive Income into Income
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts$18.2 Interest Income$1.7 
Total$18.2 $1.7 
Schedule of Derivative Instruments Included in Trading Activities
As of March 31, 2022 and September 30, 2021, these transactions are summarized as follows:
March 31, 2022September 30, 2021
(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
$12.7 $2,708.7 $1.6 $1,453.4 
Unrealized loss on TBA securities purchased within Payables to broker-dealers, clearing organizations and counterparties and related notional amounts
$(78.8)6,064.3 $(37.6)$7,024.2 
Unrealized gain on TBA securities sold within Deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts
$118.6 $(7,966.4)$43.0 $(8,391.4)
Unrealized loss on TBA securities sold within Payables to broker-dealers, clearing organizations, and counterparties
$(14.1)$(3,165.2)$(2.7)$(2,430.7)
Unrealized gain on forward settling securities purchased within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$1.6 345.1 $0.3 $214.5 
Unrealized loss on forward settling securities purchased within Payables to broker-dealers, clearing organizations, and counterparties
$(26.4)$2,413.4 $(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
$19.3 $(1,541.9)$14.1 $(1,867.4)
Unrealized loss on forward settling securities sold within Payables to broker-dealers, clearing organizations, and counterparties
$(0.9)$(373.3)$(0.4)$(133.1)
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.