Assets and Liabilities, at Fair Value (Tables)

9 Months Ended

Jun. 30, 2022

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 June 30, 2022 and September 30, 2021 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of June 30, 2022 and September 30, 2021.


	June 30, 2022
(in millions)	Level 1		Level 2		Level 3		Netting (1)		Total
Assets:
Certificates of deposit	$	5.2	$	—	$	—	$	—	$	5.2
Money market mutual funds	39.2		—		—		—		39.2
Cash and cash equivalents	44.4		—		—		—		44.4
Commodities warehouse receipts	21.4		—		—		—		21.4
U.S. Treasury obligations	0.1		—		—		—		0.1
Securities and other assets segregated under federal and other regulations	21.5		—		—		—		21.5
U.S. Treasury obligations	2,935.0		—		—		—		2,935.0
To be announced ("TBA") and forward settling securities	—		83.9		—		(63.5)		20.4
Foreign government obligations	14.4		—		—		—		14.4
Derivatives	10,388.3		216.3		—		(10,031.3)		573.3
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net	13,337.7		300.2		—		(10,094.8)		3,543.1
Receivables from clients, net - Derivatives	88.9		574.0				(684.1)		(21.2)
Equity securities	536.3		26.9		—		—		563.2
Corporate and municipal bonds	—		158.1		—		—		158.1
U.S. Treasury obligations	248.8		—		—		—		248.8
U.S. government agency obligations	—		237.9		—		—		237.9

Agency mortgage-backed obligations	—		2,207.6		—		—		2,207.6
Asset-backed obligations	—		70.6		—		—		70.6
Derivatives	0.6		957.7		—		(788.8)		169.5
Commodities leases	—		26.4		—		—		26.4
Commodities warehouse receipts	20.8		—		—		—		20.8
Exchange firm common stock	12.3		—		—		—		12.3

Mutual funds and other	17.0		1.3		—		—		18.3
Financial instruments owned	835.8		3,686.5		—		(788.8)		3,733.5
Physical commodities inventory	165.0		231.0		—		—		396.0
Total assets at fair value	$	14,493.3	$	4,791.7	$	—	$	(11,567.7)	$	7,717.3
Liabilities:

Payables to clients - Derivatives	10,412.2		232.6		—		(10,019.9)		624.9
TBA and forward settling securities	—		75.6		—		(61.8)		13.8
Derivatives	73.8		229.1		—		(310.2)		(7.3)
Payable to broker-dealers, clearing organizations and counterparties	73.8		304.7		—		(372.0)		6.5
Equity securities	409.3		23.6		—		—		432.9

Corporate and municipal bonds	—		57.8		—		—		57.8
U.S. Treasury obligations	1,548.8		—		—		—		1,548.8
U.S. government agency obligations	—		9.5		—		—		9.5
Agency mortgage-backed obligations	—		3.8		—		—		3.8
Derivatives	—		1,198.1		—		(752.5)		445.6
Cash flow hedges	—		33.3		—		—		33.3

Other	—		5.8		—		—		5.8
Financial instruments sold, not yet purchased	1,958.1		1,331.9		—		(752.5)		2,537.5
Total liabilities at fair value	$	12,444.1	$	1,869.2	$	—	$	(11,144.4)	$	3,168.9

(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy.


	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
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 at each level of the fair value hierarchy.