Revenue from Contracts with Clients (Tables)

6 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

	Three Months Ended March 31,				Six Months Ended March 31,
(in millions)	2023		2022		2023		2022
Revenues from contracts with clients as a percentage of total revenues	5.7	%	5.9	%	6.4	%	6.2	%

The following table represents a disaggregation of the Company’s total revenues separated between revenues from contracts with clients and other sources of revenue for the periods indicated.

	Three Months Ended March 31,				Six Months Ended March 31,
(in millions)	2023		2022		2023		2022
Revenues from contracts with clients:
Commission and clearing fees:
Sales-based:
Exchange-traded futures and options	$	55.3	$	57.7	$	104.0	$	102.3
OTC derivative brokerage	4.5		4.9		8.1		9.3
Equities and fixed income	15.6		17.1		31.0		31.7
Mutual funds	0.9		1.2		1.5		2.4
Insurance and annuity products	2.7		2.4		4.5		5.2
Other	1.1		0.9		2.2		1.7
Total sales-based commission	80.1		84.2		151.3		152.6
Trailing:
Mutual funds	3.1		3.6		6.1		7.5
Insurance and annuity products	3.5		4.2		7.0		8.6
Total trailing commission	6.6		7.8		13.1		16.1
Clearing fees	40.0		40.6		76.0		77.0
Trade conversion fees	2.0		4.0		4.4		6.0
Other	2.0		1.8		3.9		3.0
Total commission and clearing fees	130.7		138.4		248.7		254.7
Consulting, management, and account fees:
Underwriting fees	0.1		0.1		0.3		0.3
Asset management fees	11.1		11.4		21.8		22.0
Advisory and consulting fees	9.0		7.5		17.7		15.0
Sweep program fees	12.9		0.5		24.3		1.0
Client account fees	3.7		4.3		7.5		8.0
Other	3.9		1.6		8.9		3.2
Total consulting, management, and account fees	40.7		25.4		80.5		49.5
Sales of physical commodities:
Precious metals sales	746.4		807.0		1,535.0		1,587.3
Total revenues from contracts with clients	$	917.8	$	970.8	$	1,864.2	$	1,891.5
Method of revenue recognition:
Point-in-time	$	878.2	$	943.6	$	1,787.3	$	1,837.4
Time elapsed	39.6		27.2		76.9		54.1
Total revenues from contracts with clients	917.8		970.8		1,864.2		1,891.5
Other sources of revenues
Physical precious metals trading	13,703.1		14,211.3		24,182.1		26,526.6
Physical agricultural and energy product trading	1,056.7		845.9		2,192.5		1,669.2
Principal gains, net	256.6		323.5		510.8		574.6
Interest income	226.8		31.2		423.0		62.2
Total revenues	$	16,161.0	$	16,382.7	$	29,172.6	$	30,724.1
Total revenues by primary geographic region:
United States	$	1,471.1	$	1,204.6	$	3,034.7	$	2,329.3
Europe	912.0		933.6		1,827.0		1,818.2
South America	56.5		23.6		118.7		41.3
Middle East and Asia	13,720.0		14,218.5		24,186.3		26,530.7
Other	1.4		2.4		5.9		4.6
Total revenues	$	16,161.0	$	16,382.7	$	29,172.6	$	30,724.1
Operating revenues by primary geographic region:
United States	$	538.5	$	364.5	$	1,028.4	$	668.6
Europe	105.5		131.3		207.0		239.0
South America	32.0		23.6		63.5		41.3
Middle East and Asia	27.1		23.0		54.5		41.8
Other	1.3		2.3		5.8		4.5
Total operating revenues	$	704.4	$	544.7	$	1,359.2	$	995.2

Schedule of Income and Expense

The following table indicates the relevant income and expense:

	Three Months Ended March 31,				Six Months Ended March 31,
(in millions)	2023		2022		2023		2022
Dividend income on long equity positions	$	3.2	$	26.3	$	17.4	$	87.5
Dividend expense on short equity positions	4.1		25.5		17.3		77.9
Dividend (loss)/income, net reported within Principal Gains, net	$	(0.9)	$	0.8	$	0.1	$	9.6