| 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 March 31, 2024 and September 30, 2023 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of March 31, 2024 and September 30, 2023. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2024 | | (in millions) | Level 1 | | Level 2 | | Level 3 | | Netting (1) | | Total | | Assets: | | | | | | | | | | | Certificates of deposit | $ | 18.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 18.1 | | | Money market mutual funds | 99.9 | | | — | | | — | | | — | | | 99.9 | | | Cash and cash equivalents | 118.0 | | | — | | | — | | | — | | | 118.0 | | | Commodities warehouse receipts | 4.1 | | | — | | | — | | | — | | | 4.1 | | | | | | | | | | | | | Securities and other assets segregated under federal and other regulations | 4.1 | | | — | | | — | | | — | | | 4.1 | | | U.S. Treasury obligations | 3,405.5 | | | — | | | — | | | — | | | 3,405.5 | | | To be announced and forward settling securities | — | | | 25.3 | | | — | | | (22.4) | | | 2.9 | | | Foreign government obligations | 19.0 | | | — | | | — | | | — | | | 19.0 | | | Derivatives | 4,489.9 | | | 1,592.6 | | | — | | | (5,352.6) | | | 729.9 | | | Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net | 7,914.4 | | | 1,617.9 | | | — | | | (5,375.0) | | | 4,157.3 | | | Receivables from clients, net - Derivatives | 167.0 | | | 533.9 | | | — | | | (704.3) | | | (3.4) | | | Equity securities | 466.7 | | | 14.5 | | | — | | | — | | | 481.2 | | | Corporate and municipal bonds | — | | | 339.9 | | | — | | | — | | | 339.9 | | | U.S. Treasury obligations | 517.7 | | | — | | | — | | | — | | | 517.7 | | | U.S. government agency obligations | — | | | 466.2 | | | — | | | — | | | 466.2 | | | Foreign government obligations | 41.3 | | | — | | | — | | | — | | | 41.3 | | | Agency mortgage-backed obligations | — | | | 3,186.0 | | | — | | | — | | | 3,186.0 | | | Asset-backed obligations | — | | | 136.9 | | | — | | | — | | | 136.9 | | | Derivatives | 0.5 | | | 960.5 | | | — | | | (600.5) | | | 360.5 | | | Commodities leases | — | | | 15.3 | | | — | | | — | | | 15.3 | | | Commodities warehouse receipts | 74.9 | | | — | | | — | | | — | | | 74.9 | | | Exchange firm common stock | 12.9 | | | — | | | — | | | — | | | 12.9 | | | Cash flow hedges | — | | | 7.1 | | | — | | | — | | | 7.1 | | | Mutual funds and other | 23.8 | | | — | | | 2.8 | | | — | | | 26.6 | | | Financial instruments owned | 1,137.8 | | | 5,126.4 | | | 2.8 | | | (600.5) | | | 5,666.5 | | | Physical commodities inventory | 166.8 | | | 188.4 | | | — | | | — | | | 355.2 | | | Total assets at fair value | $ | 9,508.1 | | | $ | 7,466.6 | | | $ | 2.8 | | | $ | (6,679.8) | | | $ | 10,297.7 | | | Liabilities: | | | | | | | | | | | Accounts payable and other accrued liabilities | $ | — | | | $ | — | | | $ | 1.7 | | | $ | — | | | $ | 1.7 | | | Payables to clients - Derivatives | 4,483.9 | | | 225.7 | | | — | | | (4,124.0) | | | 585.6 | | | TBA and forward settling securities | — | | | 22.9 | | | — | | | (21.9) | | | 1.0 | | | Derivatives | 166.8 | | | 1,747.0 | | | — | | | (1,936.1) | | | (22.3) | | | Payable to broker-dealers, clearing organizations and counterparties | 166.8 | | | 1,769.9 | | | — | | | (1,958.0) | | | (21.3) | | | Equity securities | 275.8 | | | 4.8 | | | — | | | — | | | 280.6 | | | Foreign government obligations | 45.0 | | | — | | | — | | | — | | | 45.0 | | | Corporate and municipal bonds | — | | | 174.4 | | | — | | | — | | | 174.4 | | | U.S. Treasury obligations | 2,239.4 | | | — | | | — | | | — | | | 2,239.4 | | | U.S. government agency obligations | — | | | 27.2 | | | — | | | — | | | 27.2 | | | Agency mortgage-backed obligations | — | | | 7.6 | | | — | | | — | | | 7.6 | | | Asset-backed obligations | — | | | 5.3 | | | — | | | — | | | 5.3 | | | Derivatives | 9.3 | | | 974.1 | | | — | | | (546.7) | | | 436.7 | | | Cash flow hedges | — | | | 5.7 | | | — | | | — | | | 5.7 | | | | | | | | | | | | | Other | — | | | — | | | 1.1 | | | — | | | 1.1 | | | Financial instruments sold, not yet purchased | 2,569.5 | | | 1,199.1 | | | 1.1 | | | (546.7) | | | 3,223.0 | | | Total liabilities at fair value | $ | 7,220.2 | | | $ | 3,194.7 | | | $ | 2.8 | | | $ | (6,628.7) | | | $ | 3,789.0 | |
(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 | | | 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 | | | Receivables 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 | |
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