Financial Assets And Financial Liabilities (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2016

Dec. 31, 2015



	Financial Assets At Fair Value as of September 30, 2016

	Level 1		Level 2		Level 3		Total

	(in millions)
Securities segregated for regulatory purposes	$	12,063	$	—	$	—	$	12,063
Financial instruments owned
Stocks		1,884		—		—		1,884
Options		1,578		—		—		1,578
Warrants and discount certificates		57		—		—		57
U.S. and foreign government securities		296		—		—		296
Corporate and municipal bonds		—		3		—		3
Currency forward contracts		—		5		—		5
Total financial instruments owned, at fair value		3,815		8		—		3,823
Total financial assets at fair value	$	15,878	$	8	$	—	$	15,886



	Financial Liabilities At Fair Value as of September 30, 2016
	Level 1		Level 2		Level 3		Total

	(in millions)
Financial instruments sold, but not yet purchased, at fair value
Stocks	$	1,398	$	—	$	1	$	1,399
Options		1,058		—		—		1,058
Warrants and discount certificates		1		—		—		1
Currency forward contracts		—		1		—		1
Total financial instruments sold, but not yet purchased, at fair value		2,457		1		1		2,459
Total financial liabilities at fair value	$	2,457	$	1	$	1	$	2,459




	Financial Assets At Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total

	(in millions)
Securities segregated for regulatory purposes	$	15,214	$	—	$	—	$	15,214
Financial instruments owned, at fair value
Stocks		1,650		—		—		1,650
Options		1,156		—		—		1,156
Warrants and discount certificates		81		—		—		81
U.S. and foreign government securities		527		—		—		527
Corporate and municipal bonds		—		3		—		3
Currency forward contracts		—		3		—		3
Total financial instruments owned, at fair value		3,414		6		—		3,420
Total financial assets at fair value	$	18,628	$	6	$	—	$	18,634



	Financial Liabilities At Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total

	(in millions)
Financial instruments sold, but not yet purchased, at fair value
Stocks	$	1,565	$	—	$	—	$	1,565
Options		1,042		—		—		1,042
Warrants and discount certificates		1		—		—		1
Currency forward contracts		—		9		—		9
Total financial instruments sold, but not yet purchased, at fair value		2,608		9		—		2,617
Total financial liabilities at fair value	$	2,608	$	9	$	—	$	2,617



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015

	(in millions)
Equities	$	34	$	83	$	119	$	204
Fixed income		—		—		—		—
Foreign exchange		4		4		5		12
Total trading gains, net	$	38	$	87	$	124	$	216



	September 30, 2016
	Carrying Value		Fair Value		Level 1		Level 2		Level 3

	(in millions)
Financial assets, not measured at fair value
Cash and cash equivalents	$	1,550	$	1,550	$	1,550	$	-	$	-
Cash and securities segregated for regulatory purposes		13,187		13,187		6,224		6,963		-
Securities borrowed		4,785		4,785		-		4,785		-
Securities purchased under agreements to resell		148		148		-		148		-
Receivables from customer		18,223		18,223		-		18,223		-
Receivables from broker, dealers, and clearing organizations		764		764		-		764		-
Interest receivable		66		66		-		66		-
Other assets		29		32		-		32		-
Total financial assets, not measured at fair value	$	38,752	$	38,755	$	7,774	$	30,981	$	—



Financial liabilities, not measured at fair value
Short-term borrowings	$	24	$	24	$	-	$	24	$	-
Securities loaned		3,617		3,617		-		3,617		-
Payables to customer		42,486		42,486		-		42,486		-
Payables to brokers, dealers and clearing organizations		210		210		-		210		-
Interest payable		4		4		-		4		-
Total financial liabilities, not measured at fair value	$	46,341	$	46,341	$	-	$	46,341	$	-



	December 31, 2015
	Carrying Value		Fair Value		Level 1		Level 2		Level 3

	(in millions)
Financial assets, not measured at fair value
Cash and cash equivalents	$	1,601	$	1,601	$	1,601	$	-	$	-
Cash and securities segregated for regulatory purposes		6,095		6,095		5,533		562		-
Securities borrowed		3,924		3,924		-		3,924		-
Securities purchased under agreements to resell		195		195		-		195		-
Receivables from customer		17,050		17,050		-		17,050
Receivables from broker, dealers, and clearing organizations		692		692		-		692		-
Interest receivable		63		63		-		63		-
Other assets		28		31		-		31		-
Total financial assets, not measured at fair value	$	29,648	$	29,651	$	7,134	$	22,517	$	—



	September 30, 2016
	Gross			Amounts			Net Amounts		Amounts Not Offset
	Amounts			Offset in the			Presented in		in the Condensed
	of Financial			Condensed			Condensed		Consolidated Statement
	Assets and			Consolidated			Consolidated		of Financial Condition
	Liabilities			Statement of			Statement of		Cash or Financial
	Recognized			Financial Condition		2	Financial Condition		Instruments		Net Amount

	(in millions)
Offsetting of Financial Assets
Securities segregated for regulatory purposes - purchased under agreements to resell	$	6,963	1	$	—		$	6,963	$	(6,963)	$	—
Securities borrowed		4,785			—			4,785		(4,640)		145
Securities purchased under agreements to resell		148			—			148		(148)		—
Financial Instruments owned, at fair value
Options		1,578			—			1,578		(1,031)		547
Warrants and discount certificates		57			—			57		(1)		56
Currency forward contracts		5			—			5		—		5
Total	$	13,536		$	—		$	13,536	$	(12,783)	$	753



	December 31, 2015
		Gross		Amounts			Net Amounts		Amounts Not Offset
		Amounts		Offset in the			Presented in		in the Condensed
		of Financial		Condensed			Condensed		Consolidated Statement
		Assets and		Consolidated			Consolidated		of Financial Condition
		Liabilities		Statement of			Statement of		Cash or Financial
		Recognized		Financial Condition		2	Financial Condition		Instruments		Net Amount

	(in millions)
Offsetting of Financial Assets
Securities segregated for regulatory purposes - purchased under agreements to resell	$	562	1	$	—		$	562	$	(562)	$	—
Securities borrowed		3,924			—			3,924		(3,816)		108
Securities purchased under agreements to resell		195			—			195		(195)		—
Financial Instruments owned, at fair value
Options		1,156			—			1,156		(1,032)		124
Warrants and discount certificates		81			—			81		(1)		80
Currency forward contracts		3			—			3		—		3
Total	$	5,921		$	—		$	5,921	$	(5,606)	$	315


	(in millions)
Offsetting of Financial Liabilities
Securities loaned	$	3,617	$	—	$	3,617	$	(3,520)	$	97
Financial instruments sold, but not yet purchased, at fair value
Options		1,058		—		1,058		(1,031)		27
Warrants and discount certificates		1		—		1		(1)		—
Currency forward contracts		1		—		1		—		1
Total	$	4,677	$	—	$	4,677	$	(4,552)	$	125


	(in millions)
Offsetting of Financial Liabilities
Securities loaned	$	2,894	$	—	$	2,894	$	(2,773)	$	121
Financial instruments sold, but not yet purchased, at fair value
Options		1,042		—		1,042		(1,032)		10
Warrants and discount certificates		1		—		1		(1)		—
Currency forward contracts		9		—		9		—		9
Total	$	3,946	$	—	$	3,946	$	(3,806)	$	140



	September 30, 2016
	Remaining Contractual Maturity
	Overnight		Less than		30 – 90		Over 90
	and Open		30 days		days		days		Total

	(in millions)
Securities Loaned
Stocks	$	3,590	$	-	$	-	$	-	$	3,590
Corporate bonds		27		-		-		-		27
Total	$	3,617	$	-	$	-	$	-	$	3,617



	December 31, 2015
	Remaining Contractual Maturity
	Overnight		Less than		30 – 90		Over 90
	and Open		30 days		days		days		Total

	(in millions)
Securities Loaned
Stocks	$	2,873	$	-	$	-	$	-	$	2,873
Corporate bonds		21		-		-		-		21
Total	$	2,894	$	-	$	-	$	-	$	2,894