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Condensed Consolidated Income Statements - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Revenues:        
Sales of physical commodities $ 15,864.2 $ 10,804.3 $ 29,783.1 $ 19,687.8
Principal gains, net 323.5 265.2 574.6 468.6
Revenue from contract with customer 970.8 563.1 1,891.5 818.6
Interest income 31.2 23.4 62.2 44.6
Total revenues 16,382.7 11,244.8 30,724.1 20,495.3
Cost of sales of physical commodities 15,838.0 10,773.4 29,728.9 19,643.8
Operating revenues 544.7 471.4 995.2 851.5
Transaction-based clearing expenses 76.5 74.8 147.4 140.2
Introducing broker commissions 43.2 40.8 81.5 79.0
Interest expense 14.1 11.1 29.8 21.0
Interest expense on corporate funding 10.6 10.5 22.4 21.0
Net operating revenues 400.3 334.2 714.1 590.3
Compensation and other expenses:        
Compensation and benefits 207.1 185.0 382.1 338.6
Trading systems and market information 16.9 14.8 33.0 28.5
Professional fees 13.8 9.0 25.7 18.3
Non-trading technology and support 12.8 10.6 25.8 21.5
Occupancy and equipment rental 8.8 7.5 17.5 16.1
Selling and marketing 14.3 6.5 25.3 15.3
Travel and business development 3.0 0.5 5.9 1.5
Communications 2.1 2.4 4.0 4.7
Depreciation and amortization 11.3 8.6 20.4 17.0
Bad debt expense, net 12.3 0.9 12.1 2.4
Other 16.9 12.1 28.8 23.2
Total compensation and other expenses 319.3 257.9 580.6 487.1
Other gain 6.4 0.0 6.4 0.0
Income before tax 87.4 76.3 139.9 103.2
Income tax expense 23.4 21.0 34.2 28.4
Net income $ 64.0 $ 55.3 $ 105.7 $ 74.8
Earnings per share:        
Basic (in dollar per shares) $ 3.18 $ 2.81 $ 5.27 $ 3.81
Diluted (in dollar per shares) $ 3.11 $ 2.73 $ 5.15 $ 3.71
Weighted-average number of common shares outstanding:        
Basic (in shares) 19,573,871 19,112,216 19,477,540 19,025,604
Diluted (in shares) 20,012,709 19,670,539 19,930,047 19,570,028
Commission and clearing fees        
Revenues:        
Revenue from contract with customer $ 138.4 $ 129.8 $ 254.7 $ 249.2
Consulting, management, and account fees        
Revenues:        
Revenue from contract with customer $ 25.4 $ 22.1 $ 49.5 $ 45.1