Receivables and Payables (Tables)

12 Months Ended

Dec. 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 at December 31 (dollars in thousands):

	Receivables from				Payables to
	December 31,		December 31,		December 31,		December 31,
	2018		2017		2018		2017
Broker-dealers	$	247,214	$	189,817	$	200,579	$	105,022
Clearing organizations		940		708		33,367		10,011
Securities borrowed		27,713		4,246		—		—
Securities loaned		—		—		94,248		4,245
Allowance for doubtful accounts		(1,121)		(864)		—		—
Total	$	274,746	$	193,907	$	328,194	$	119,278

Summary of receivables from and payables to customers

The following is a summary of receivables from, and payables to, customers at December 31 (dollars in thousands):

	Receivables from				Payables to
	December 31,		December 31,		December 31,		December 31,
	2018		2017		2018		2017
Customers	$	227,334	$	75,062	$	36,825	$	23,568
Allowance for doubtful accounts		(476)		(367)		—		—
Net	$	226,858	$	74,695	$	36,825	$	23,568

Schedule of interest earned on cash provided to counterparties as collateral for securities borrowed, and interest incurred on cash received from counterparties as collateral for securities loaned

The gross amounts of interest earned on cash provided to counterparties as collateral for securities borrowed, and interest incurred on cash received from counterparties as collateral for securities loaned within the U.S. matched-book operations prior to the wind-down of all balances, and the resulting net amount included in other revenue on the Consolidated Statements of Operations for 2016 were as follows (dollars in thousands):

	2016
Interest earned	$	1,961
Interest incurred		(1,132)
Net	$	829

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 December 31, 2018:
Deposits paid for securities borrowed	$	27,713	$	—	$	27,713	$	27,713	$	—
Deposits received for securities loaned		94,248		—		94,248		95,223		(975)
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)