Receivables and Payables (Tables)

6 Months Ended

Jun. 30, 2012

Receivables and Payables

Summary of receivables from, and payables to, brokers, dealers and clearing organizations

	Receivables from						Payables to
	June 30, 2012			December 31, 2011			June 30, 2012		December 31, 2011
Broker-dealers	$	336,388		$	205,975		$	386,666	$	370,146
Clearing organizations	7,085			2,365			3,353		14,945
Securities borrowed	601,621			663,293			—		—
Securities loaned	—			—			614,887		694,682
Allowance for doubtful accounts	(969		)	(318		)	—		—
Total	$	944,125		$	871,315		$	1,004,906	$	1,079,773

Summary of receivables from, and payables to, customers

	Receivables from						Payables to
	June 30, 2012			December 31, 2011			June 30, 2012		December 31, 2011
Customers	$	590,817		$	473,852		$	440,396	$	207,738
Allowance for doubtful accounts	(1,483		)	(1,343		)	—		—
Total	$	589,334		$	472,509		$	440,396	$	207,738

Schedule of interest earned and interest incurred on securities borrowed and loaned

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Interest earned	$	7,634		$	6,328		$	13,537		$	9,680
Interest incurred	(6,147		)	(5,003		)	(10,652		)	(7,420		)
Net	$	1,487		$	1,325		$	2,885		$	2,260