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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)
 6 Months Ended
Mar. 31, 2024
Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract]  
Schedule of Derivative Instruments
Listed below are the fair values of the Company’s derivative assets and liabilities as of March 31, 2024 and September 30, 2023. Assets represent net unrealized gains and liabilities represent net unrealized losses.
 March 31, 2024September 30, 2023
(in millions)
Assets (1)
Liabilities (1)
Assets (1)
Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives$1,732.5 $1,725.8 $1,907.0 $1,890.3 
OTC commodity derivatives2,319.0 2,269.6 1,523.3 1,456.0 
Exchange-traded foreign exchange derivatives1.4 1.4 4.3 4.3 
OTC foreign exchange derivatives326.1 280.4 497.1 455.3 
Exchange-traded interest rate derivatives782.2 791.5 1,507.6 1,509.8 
OTC interest rate derivatives270.2 270.2 417.6 417.6 
Exchange-traded equity index derivatives2,141.3 2,141.3 2,140.9 2,140.9 
OTC equity and indices derivatives171.7 126.6 127.3 68.5 
TBA and forward settling securities25.3 22.9 73.5 47.5 
Subtotal7,769.7 7,629.7 8,198.6 7,990.2 
Derivative contracts designated as hedging instruments:
Interest rate contracts— 5.7 — 24.6 
Foreign currency forward contracts7.1 — 1.7 2.5 
Subtotal7.1 5.7 1.7 27.1 
Gross fair value of derivative contracts$7,776.8 $7,635.4 $8,200.3 $8,017.3 
Impact of netting and collateral (6,679.8)(6,628.7)(7,731.3)(7,639.0)
Total fair value included in Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net
$732.8 $206.7 
Total fair value included in Receivable from clients, net
$(3.4)$(7.9)
Total fair value included in Financial instruments owned, at fair value
$367.6 $270.2 
Total fair value included in Payables to clients
$585.6 $79.8 
Total fair value included in Payables to broker-dealers, clearing organizations and counterparties
$(21.3)$10.2 
Total fair value included in Financial instruments sold, not yet purchased, at fair value
$442.4 $288.3 
(1)As of March 31, 2024 and September 30, 2023, the Company’s derivative contract volume for open positions was approximately 11.8 million and 13.4 million contracts, respectively.
Schedule of Fair Value of Derivative Instruments Designated for Hedging The fair values of derivative instruments designated for hedging held as of March 31, 2024 and September 30, 2023 are as follow:
 March 31, 2024September 30, 2023
(in millions)Balance Sheet LocationFair ValueFair Value
Asset Derivatives
Derivatives designated as hedging instruments:
Foreign currency forward contractsFinancial instruments owned, net$7.1 $1.7 
Total derivatives designated as hedging instruments$7.1 $1.7 
Derivative assets expected to be released from Other comprehensive income into current earnings:
Foreign currency forward contracts$5.6 $1.4 
Total expected to be released from Other comprehensive income into earnings
$5.6 $1.4 
Liability Derivatives
Derivatives designated as hedging instruments:
Interest rate contractsFinancial instruments sold, not yet purchased$5.7 $24.6 
Foreign currency forward contractsFinancial instruments sold, not yet purchased— 2.5 
Total derivatives designated as hedging instruments$5.7 $27.1 
Derivative liabilities expected to be released from Other comprehensive income into current earnings:
Interest rate contracts$5.7 $20.3 
Foreign currency forward contracts— 1.0 
Total expected to be released from Other comprehensive income into earnings
$5.7 $21.3 
Schedule of Notional Amounts of Outstanding Derivative Positions
The notional values of derivative instruments designated for hedging held as of March 31, 2024 and September 30, 2023 are as follows:
 March 31, 2024September 30, 2023
(in millions)Notional ValueNotional Value
Derivatives designated as hedging instruments:
Interest rate contracts$1,000.0 $2,000.0 
Foreign currency forward contracts:
Foreign currency forward contracts to purchase Polish Zloty:
Local currencyzł156.1 zł156.1 
USD$35.8 $34.0 
Foreign currency forward contracts to purchase British Pound Sterling:
Local currency£120.0 £168.0 
USD$147.6 $206.9 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The Condensed Consolidated Income Statement effects of derivative instruments designated for hedging held for the three and six months ended March 31, 2024 and 2023 are as follows:
(in millions)Income Statement LocationThree Months Ended March 31, 2024Six Months Ended March 31, 2024
Total amounts reclassified from Accumulated Other Comprehensive Income into Income:
Interest rate contractsInterest income$(4.6)$(20.5)
Foreign currency forward contractsCompensation and benefits1.8 3.7 
Total derivatives designated as hedging instruments$(2.8)$(16.8)
Amount of gain reclassified from accumulated other comprehensive income into income as a result of a forecasted transaction that is no longer probable of occurring$— $— 

(in millions)Income Statement LocationThree Months Ended March 31, 2023Six Months Ended March 31, 2023
Total amounts reclassified from Accumulated Other Comprehensive Income into Income:
Interest rate contractsInterest Income$(11.6)$(17.0)
Foreign currency forward contractsCompensation and benefits0.7 0.5 
Total derivatives designated as hedging instruments$(10.9)$(16.5)
Amount of gain reclassified from accumulated other comprehensive income into income as a result of a forecasted transaction that is no longer probable of occurring$— $— 
The following table sets forth the Company’s net gains/(losses) related to derivative financial instruments for the three and six months ended March 31, 2024 and 2023 in accordance with the Derivatives and Hedging Topic of the ASC. The net gains/(losses) set forth below are included in Principal gains, net and Cost of sales of physical commodities in the Condensed Consolidated Income Statements.
Three Months Ended March 31,Six Months Ended March 31,
(in millions)2024202320242023
Commodities$30.4 $147.8 $117.5 $202.0 
Foreign exchange 32.6 (72.8)57.8 (24.0)
Interest rate, equities, and indices 15.5 25.6 42.9 33.9 
TBA and forward settling securities25.5 (14.1)(67.7)(37.1)
Net gains from derivative contracts$104.0 $86.5 $150.5 $174.8 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income
The accumulated other comprehensive income effects of derivative instruments designated for hedging held for three and six months ended March 31, 2024 and 2023 are as follow:

Amount of Gain/(Loss) Recognized in Other Comprehensive Income on Derivatives, net of tax
(in millions)Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts$1.7 $10.6 
Foreign currency forward contracts(2.5)3.7 
Total$(0.8)$14.3 

Amount of Gain Recognized in Other Comprehensive Income on Derivatives, net of tax
(in millions)Six Months Ended March 31, 2024Six Months Ended March 31, 2023
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts$14.3 $9.2 
Foreign currency forward contracts5.6 19.8 
Total$19.9 $29.0