Revenue from Contracts with Clients (Tables)

9 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

	Three Months Ended June 30,				Nine Months Ended June 30,
(in millions)	2023		2022		2023		2022
Revenues from contracts with clients as a percentage of total revenues	6.5	%	4.5	%	6.4	%	5.5	%

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 June 30,				Nine Months Ended June 30,
(in millions)	2023		2022		2023		2022
Revenues from contracts with clients:
Commission and clearing fees:
Sales-based:
Exchange-traded futures and options	$	57.6	$	53.1	$	161.6	$	155.4
OTC derivative brokerage	2.0		4.0		10.1		13.3
Equities and fixed income	13.6		15.4		44.6		47.1
Mutual funds	0.7		1.0		2.2		3.4
Insurance and annuity products	2.0		2.2		6.5		7.4
Other	2.0		0.6		4.2		2.3
Total sales-based commission	77.9		76.3		229.2		228.9
Trailing:
Mutual funds	3.1		3.4		9.2		10.9
Insurance and annuity products	3.5		3.9		10.5		12.5
Total trailing commission	6.6		7.3		19.7		23.4
Clearing fees	38.6		38.8		114.6		115.8
Trade conversion fees	1.7		3.0		6.1		9.0
Other	2.0		1.5		5.9		4.5
Total commission and clearing fees	126.8		126.9		375.5		381.6
Consulting, management, and account fees:
Underwriting fees	0.2		0.1		0.5		0.4
Asset management fees	11.5		11.5		33.3		33.5
Advisory and consulting fees	8.4		8.2		26.1		23.2
Sweep program fees	12.3		2.5		36.6		3.5
Client account fees	4.0		3.8		11.5		11.8
Other	2.8		1.6		11.7		4.8
Total consulting, management, and account fees	39.2		27.7		119.7		77.2
Sales of physical commodities:
Precious metals sales	814.7		696.0		2,349.7		2,283.3
Total revenues from contracts with clients	$	980.7	$	850.6	$	2,844.9	$	2,742.1
Method of revenue recognition:
Point-in-time	$	941.9	$	821.1	$	2,729.2	$	2,658.5
Time elapsed	38.8		29.5		115.7		83.6
Total revenues from contracts with clients	980.7		850.6		2,844.9		2,742.1
Other sources of revenues
Physical precious metals trading	12,513.4		16,808.1		36,695.5		43,334.7
Physical agricultural and energy product trading	991.1		926.9		3,183.6		2,596.1
Principal gains, net	300.0		295.2		810.8		869.8
Interest income	262.7		50.1		685.7		112.3
Total revenues	$	15,047.9	$	18,930.9	$	44,220.5	$	49,655.0
Total revenues by primary geographic region:
United States	$	1,428.9	$	1,278.3	$	4,463.6	$	3,607.6
Europe	1,014.8		813.1		2,841.8		2,631.3
South America	65.9		21.7		184.6		63.0
Middle East and Asia	12,534.9		16,814.7		36,721.2		43,345.4
Other	3.4		3.1		9.3		7.7
Total revenues	$	15,047.9	$	18,930.9	$	44,220.5	$	49,655.0
Operating revenues by primary geographic region:
United States	$	559.6	$	354.7	$	1,588.0	$	1,023.3
Europe	145.1		125.8		352.1		364.8
South America	34.3		21.7		97.8		63.0
Middle East and Asia	34.4		23.5		88.9		65.3
Other	3.5		3.1		9.3		7.6
Total operating revenues	$	776.9	$	528.8	$	2,136.1	$	1,524.0

Schedule of Income and Expense

The following table indicates the relevant income and expense:

	Three Months Ended June 30,				Nine Months Ended June 30,
(in millions)	2023		2022		2023		2022
Dividend income on long equity positions	$	10.2	$	31.6	$	27.5	$	119.1
Dividend expense on short equity positions	11.6		32.0		28.8		109.9
Dividend (loss)/income, net reported within Principal Gains, net	$	(1.4)	$	(0.4)	$	(1.3)	$	9.2