| Schedule of 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 September 30, 2023 and 2022 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of September 30, 2023 and 2022. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | (in millions) | Level 1 | | Level 2 | | Level 3 | | Netting (1) | | Total | | Assets: | | | | | | | | | | | Certificates of deposit | $ | 8.7 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8.7 | | | Money market mutual funds | 57.8 | | | — | | | — | | | — | | | 57.8 | | | Cash and cash equivalents | 66.5 | | | — | | | — | | | — | | | 66.5 | | | Commodities warehouse receipts | 5.8 | | | — | | | — | | | — | | | 5.8 | | | | | | | | | | | | | Securities and other assets segregated under federal and other regulations | 5.8 | | | — | | | — | | | — | | | 5.8 | | | U.S. Treasury obligations | 4,023.8 | | | — | | | — | | | — | | | 4,023.8 | | | To be announced ("TBA") and forward settling securities | — | | | 73.5 | | | — | | | (31.7) | | | 41.8 | | | Foreign government obligations | 17.8 | | | — | | | — | | | — | | | 17.8 | | | Derivatives | 5,497.5 | | | 1,135.9 | | | — | | | (6,468.5) | | | 164.9 | | | Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net | 9,539.1 | | | 1,209.4 | | | — | | | (6,500.2) | | | 4,248.3 | | | Receivable from clients, net - Derivatives | 61.7 | | | 561.3 | | | | | (630.9) | | | (7.9) | | | Equity securities | 324.0 | | | 10.3 | | | — | | | — | | | 334.3 | | | Corporate and municipal bonds | — | | | 284.2 | | | — | | | — | | | 284.2 | | | U.S. Treasury obligations | 531.7 | | | — | | | — | | | — | | | 531.7 | | | U.S. government agency obligations | — | | | 451.7 | | | — | | | — | | | 451.7 | | | Foreign government obligations | 43.3 | | | — | | | — | | | — | | | 43.3 | | | Agency mortgage-backed obligations | — | | | 2,865.8 | | | — | | | — | | | 2,865.8 | | | Asset-backed obligations | — | | | 138.8 | | | — | | | — | | | 138.8 | | | Derivatives | 0.6 | | | 868.1 | | | — | | | (600.2) | | | 268.5 | | | Commodities leases | — | | | 16.0 | | | — | | | — | | | 16.0 | | | Commodities warehouse receipts | 54.7 | | | — | | | — | | | — | | | 54.7 | | | Exchange firm common stock | 12.0 | | | — | | | — | | | — | | | 12.0 | | | Cash flow hedges | — | | | 1.7 | | | — | | | — | | | 1.7 | | | Mutual funds and other | 39.3 | | | — | | | 2.8 | | | — | | | 42.1 | | | Financial instruments owned | 1,005.6 | | | 4,636.6 | | | 2.8 | | | (600.2) | | | 5,044.8 | | | Physical commodities inventory | 240.3 | | | 146.2 | | | — | | | — | | | 386.5 | | | Total assets at fair value | $ | 10,919.0 | | | $ | 6,553.5 | | | $ | 2.8 | | | $ | (7,731.3) | | | $ | 9,744.0 | | | Liabilities: | | | | | | | | | | | Accounts payable and other accrued liabilities - contingent liabilities | $ | — | | | $ | — | | | $ | 1.5 | | | $ | — | | | $ | 1.5 | | | Payables to clients - Derivatives | 5,430.7 | | | 226.2 | | | — | | | (5,577.1) | | | 79.8 | | | TBA and forward settling securities | — | | | 47.5 | | | — | | | (31.4) | | | 16.1 | | | Derivatives | 112.2 | | | 1,402.0 | | | — | | | (1,520.1) | | | (5.9) | | | Payable to broker-dealers, clearing organizations and counterparties | 112.2 | | | 1,449.5 | | | — | | | (1,551.5) | | | 10.2 | | | Equity securities | 230.6 | | | 5.5 | | | — | | | — | | | 236.1 | | | Foreign government obligations | 21.5 | | | — | | | — | | | — | | | 21.5 | | | Corporate and municipal bonds | — | | | 81.6 | | | — | | | — | | | 81.6 | | | U.S. Treasury obligations | 2,409.3 | | | — | | | — | | | — | | | 2,409.3 | | | U.S. government agency obligations | — | | | 5.1 | | | — | | | — | | | 5.1 | | | Agency mortgage-backed obligations | — | | | 31.7 | | | — | | | — | | | 31.7 | | | Derivatives | 2.4 | | | 769.2 | | | — | | | (510.4) | | | 261.2 | | | Cash flow hedges | — | | | 27.1 | | | — | | | — | | | 27.1 | | | | | | | | | | | | | Other | — | | | 10.9 | | | 1.1 | | | — | | | 12.0 | | | Financial instruments sold, not yet purchased | 2,663.8 | | | 931.1 | | | 1.1 | | | (510.4) | | | 3,085.6 | | | Total liabilities at fair value | $ | 8,206.7 | | | $ | 2,606.8 | | | $ | 2.6 | | | $ | (7,639.0) | | | $ | 3,177.1 | |
(1)Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level are included in that level. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2022 | | (in millions) | Level 1 | | Level 2 | | Level 3 | | Netting (1) | | Total | | Assets: | | | | | | | | | | | Certificates of deposit | $ | 4.0 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4.0 | | | Money market mutual funds | 39.5 | | | — | | | — | | | — | | | 39.5 | | | Cash and cash equivalents | 43.5 | | | — | | | — | | | — | | | 43.5 | | | Commodities warehouse receipts | 19.7 | | | — | | | — | | | — | | | 19.7 | | | U.S. Treasury obligations | 786.0 | | | — | | | — | | | — | | | 786.0 | | | Securities and other assets segregated under federal and other regulations | 805.7 | | | — | | | — | | | — | | | 805.7 | | | U.S. Treasury obligations | 4,258.5 | | | — | | | — | | | — | | | 4,258.5 | | | TBA and forward settling securities | — | | | 207.6 | | | — | | | (91.4) | | | 116.2 | | | Foreign government obligations | 14.4 | | | — | | | — | | | — | | | 14.4 | | | Derivatives | 7,714.4 | | | 461.4 | | | — | | | (9,747.7) | | | (1,571.9) | | | Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net | 11,987.3 | | | 669.0 | | | — | | | (9,839.1) | | | 2,817.2 | | | Receivable from clients, net - Derivatives | 67.2 | | | 511.6 | | | | | (579.3) | | | (0.5) | | | Equity securities | 367.9 | | | 11.8 | | | — | | | — | | | 379.7 | | | Corporate and municipal bonds | — | | | 156.8 | | | — | | | — | | | 156.8 | | | U.S. Treasury obligations | 347.6 | | | — | | | — | | | — | | | 347.6 | | | U.S. government agency obligations | — | | | 343.0 | | | — | | | — | | | 343.0 | | | Foreign government obligations | 4.8 | | | — | | | — | | | — | | | 4.8 | | | Agency mortgage-backed obligations | — | | | 2,588.7 | | | — | | | — | | | 2,588.7 | | | Asset-backed obligations | — | | | 70.7 | | | — | | | — | | | 70.7 | | | Derivatives | 0.7 | | | 694.3 | | | — | | | (502.4) | | | 192.6 | | | Commodities leases | — | | | 26.4 | | | — | | | — | | | 26.4 | | | Commodities warehouse receipts | 24.9 | | | — | | | — | | | — | | | 24.9 | | | Exchange firm common stock | 10.6 | | | — | | | — | | | — | | | 10.6 | | | Mutual funds and other | 17.4 | | | 4.1 | | | — | | | — | | | 21.5 | | | Financial instruments owned | 773.9 | | | 3,895.8 | | | — | | | (502.4) | | | 4,167.3 | | | Physical commodities inventory | 136.3 | | | 223.5 | | | — | | | — | | | 359.8 | | | Total assets at fair value | $ | 13,813.9 | | | $ | 5,299.9 | | | $ | — | | | $ | (10,920.8) | | | $ | 8,193.0 | | | Liabilities: | | | | | | | | | | | | | | | | | | | | | Payables to clients - Derivatives | 7,722.5 | | | 175.4 | | | — | | | (9,290.3) | | | (1,392.4) | | | TBA and forward settling securities | — | | | 154.9 | | | — | | | (96.9) | | | 58.0 | | | Derivatives | 58.7 | | | 590.6 | | | — | | | (651.5) | | | (2.2) | | | Payable to broker-dealers, clearing organizations and counterparties | 58.7 | | | 745.5 | | | — | | | (748.4) | | | 55.8 | | | Equity securities | 299.9 | | | 5.7 | | | — | | | — | | | 305.6 | | | Foreign government obligations | 0.5 | | | — | | | — | | | — | | | 0.5 | | | Corporate and municipal bonds | — | | | 63.2 | | | — | | | — | | | 63.2 | | | U.S. Treasury obligations | 1,686.5 | | | — | | | — | | | — | | | 1,686.5 | | | U.S. government agency obligations | — | | | 24.3 | | | — | | | — | | | 24.3 | | | Agency mortgage-backed obligations | — | | | 5.4 | | | — | | | — | | | 5.4 | | | Derivatives | — | | | 779.7 | | | — | | | (466.3) | | | 313.4 | | | Cash flow hedges | — | | | 70.6 | | | — | | | — | | | 70.6 | | | Commodities leases | — | | | — | | | — | | | — | | | — | | | Financial instruments sold, not yet purchased | 1,986.9 | | | 949.0 | | | — | | | (466.3) | | | 2,469.6 | | | Total liabilities at fair value | $ | 9,768.1 | | | $ | 1,869.9 | | | $ | — | | | $ | (10,505.0) | | | $ | 1,133.0 | |
(1)Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level are included in that level.
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