Receivables and Payables (Tables)

3 Months Ended

Mar. 31, 2018

Receivables and Payables

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

The following is a summary of receivables from, and payables to, brokers, dealers and clearing organizations (dollars in thousands):

	Receivables from				Payables to
	March 31,		December 31,		March 31,		December 31,
	2018		2017		2018		2017
Broker-dealers	$	171,944	$	189,817	$	83,599	$	105,022
Clearing organizations		2,537		708		44,198		10,011
Securities borrowed		16,871		4,246		—		—
Securities loaned		—		—		4,346		4,245
Allowance for doubtful accounts		(834)		(864)		—		—
Total	$	190,518	$	193,907	$	132,143	$	119,278

* See Securities Borrowed and Loaned below.

Summary of receivables from and payables to customers

The following is a summary of receivables from, and payables to, customers (dollars in thousands):

	Receivables from				Payables to
	March 31,		December 31,		March 31,		December 31,
	2018		2017		2018		2017
Customers	$	118,762	$	75,062	$	41,196	$	23,568
Allowance for doubtful accounts		(405)		(367)		—		—
Net	$	118,357	$	74,695	$	41,196	$	23,568

Summary of the transactions under certain Master Securities Lending Agreements that may be eligible for offsetting if an event of default occurred and a right of offset was legally enforceable

The following table summarizes the transactions under certain Master Securities Lending Agreements that may be eligible for offsetting if an event of default occurred and a right of offset was legally enforceable (dollars in thousands):

			Gross Amounts		Net Amounts		Collateral
			Offset in the		Presented in the		Received or
	Gross Amounts of		Consolidated		Consolidated		Pledged
	Recognized Assets/		Statement of		Statement of		(including		Net
	(Liabilities)		Financial Condition		Financial Condition		Cash)		Amount
As of March 31, 2018:
Deposits paid for securities borrowed	$	16,871	$	—	$	16,871	$	16,871	$	—
Deposits received for securities loaned		(4,346)		—		(4,346)		(4,321)		(25)
As of December 31, 2017:
Deposits paid for securities borrowed	$	4,246	$	—	$	4,246	$	4,246	$	—
Deposits received for securities loaned		(4,245)		—		(4,245)		(4,229)		(16)