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Financial Assets And Financial Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2021
Financial Assets And Financial Liabilities [Abstract] |
Fair Value Table |
|  | Financial Assets at Fair Value as of September 30, 2021
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in millions)
Securities segregated for regulatory purposes |  | $ | 3,925 |  | $ | — |  | $ | — |  | $ | 3,925
Financial instruments owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  |  | 582 |  |  | — |  |  | — |  |  | 582
Options |  |  | 31 |  |  | — |  |  | — |  |  | 31
U.S. and foreign government securities |  |  | 33 |  |  | — |  |  | — |  |  | 33
Corporate bonds |  |  | — |  |  | — |  |  | 1 |  |  | 1
Precious metals |  |  | — |  |  | 11 |  |  | — |  |  | 11
Currency forward contracts |  |  | — |  |  | 1 |  |  | — |  |  | 1
Total financial instruments owned, at fair value |  |  | 646 |  |  | 12 |  |  | 1 |  |  | 659
Other assets - other investments at fair value |  |  | 106 |  |  | — |  |  | — |  |  | 106
Total financial assets at fair value |  | $ | 4,677 |  | $ | 12 |  | $ | 1 |  | $ | 4,690
|  | Financial Liabilities at Fair Value as of September 30, 2021
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in millions)
Financial instruments sold, but not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  | $ | 149 |  | $ | — |  | $ | — |  | $ | 149
Options |  |  | 32 |  |  | — |  |  | — |  |  | 32
Precious metals |  |  | — |  |  | 5 |  |  | — |  |  | 5
Currency forward contracts |  |  | — |  |  | 47 |  |  | — |  |  | 47
Total financial instruments sold, but not yet purchased, at fair value |  |  | 181 |  |  | 52 |  |  | — |  |  | 233
Total financial liabilities at fair value |  | $ | 181 |  | $ | 52 |  | $ | — |  | $ | 233
|  | Financial Assets at Fair Value as of December 31, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in millions)
Securities segregated for regulatory purposes |  | $ | 4,750 |  | $ | — |  | $ | — |  | $ | 4,750
Financial instruments owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  |  | 558 |  |  | — |  |  | 1 |  |  | 559
Options |  |  | 28 |  |  | — |  |  | — |  |  | 28
U.S. and foreign government securities |  |  | 33 |  |  | — |  |  | — |  |  | 33
Corporate bonds |  |  | — |  |  | — |  |  | 1 |  |  | 1
Currency forward contracts |  |  | — |  |  | 9 |  |  | — |  |  | 9
Total financial instruments owned, at fair value |  |  | 619 |  |  | 9 |  |  | 2 |  |  | 630
Other assets - other investments at fair value |  |  | 80 |  |  | — |  |  | — |  |  | 80
Total financial assets at fair value |  | $ | 5,449 |  | $ | 9 |  | $ | 2 |  | $ | 5,460
|  | Financial Liabilities at Fair Value as of December 31, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in millions)
Financial instruments sold, but not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  | $ | 120 |  | $ | — |  | $ | — |  | $ | 120
Options |  |  | 26 |  |  | — |  |  | — |  |  | 26
Currency forward contracts |  |  | — |  |  | 7 |  |  | — |  |  | 7
Total financial instruments sold, but not yet purchased, at fair value |  |  | 146 |  |  | 7 |  |  | — |  |  | 153
Total financial liabilities at fair value |  | $ | 146 |  | $ | 7 |  | $ | — |  | $ | 153
Financial Assets and Liabilities Not Measured at Fair Value |
|  | September 30, 2021
|  | Carrying ‎Value |  | Fair ‎Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in millions)
Financial assets, not measured at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,838 |  | $ | 2,838 |  | $ | 2,838 |  | $ | — |  | $ | —
Cash - segregated for regulatory purposes |  |  | 23,125 |  |  | 23,125 |  |  | 23,125 |  |  | — |  |  | —
Securities - segregated for regulatory purposes |  |  | 10,475 |  |  | 10,475 |  |  | — |  |  | 10,475 |  |  | —
Securities borrowed |  |  | 3,811 |  |  | 3,811 |  |  | — |  |  | 3,811 |  |  | —
Securities purchased under agreements to resell |  |  | 6,108 |  |  | 6,108 |  |  | — |  |  | 6,108 |  |  | —
Receivables from customers |  |  | 50,503 |  |  | 50,503 |  |  | — |  |  | 50,503 |  |  | —
Receivables from brokers, dealers and clearing organizations |  |  | 4,038 |  |  | 4,038 |  |  | — |  |  | 4,038 |  |  | —
Interest receivable |  |  | 113 |  |  | 113 |  |  | — |  |  | 113 |  |  | —
Other assets |  |  | 19 |  |  | 19 |  |  | — |  |  | 2 |  |  | 17
Total financial assets, not measured at fair value |  | $ | 101,030 |  | $ | 101,030 |  | $ | 25,963 |  | $ | 75,050 |  | $ | 17
Financial liabilities, not measured at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term borrowings |  | $ | 28 |  | $ | 28 |  | $ | — |  | $ | 28 |  | $ | —
Securities loaned |  |  | 10,535 |  |  | 10,535 |  |  | — |  |  | 10,535 |  |  | —
Payables to customers |  |  | 84,087 |  |  | 84,087 |  |  | — |  |  | 84,087 |  |  | —
Payables to brokers, dealers and clearing organizations |  |  | 781 |  |  | 781 |  |  | — |  |  | 781 |  |  | —
Interest payable |  |  | 10 |  |  | 10 |  |  | — |  |  | 10 |  |  | —
Total financial liabilities, not measured at fair value |  | $ | 95,441 |  | $ | 95,441 |  | $ | — |  | $ | 95,441 |  | $ | —
‎
|  | December 31, 2020
|  | Carrying ‎Value |  | Fair ‎Value |  | Level 1 |  | Level 2 |  | Level 3
|  | (in millions)
Financial assets, not measured at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4,292 |  | $ | 4,292 |  | $ | 4,292 |  | $ | — |  | $ | —
Cash - segregated for regulatory purposes |  |  | 15,903 |  |  | 15,903 |  |  | 15,903 |  |  | — |  |  | —
Securities - segregated for regulatory purposes |  |  | 23,071 |  |  | 23,071 |  |  | — |  |  | 23,071 |  |  | —
Securities borrowed |  |  | 4,956 |  |  | 4,956 |  |  | — |  |  | 4,956 |  |  | —
Securities purchased under agreements to resell |  |  | 792 |  |  | 792 |  |  | — |  |  | 792 |  |  | —
Receivables from customers |  |  | 39,333 |  |  | 39,333 |  |  | — |  |  | 39,333 |  |  | —
Receivables from brokers, dealers and clearing organizations |  |  | 1,254 |  |  | 1,254 |  |  | — |  |  | 1,254 |  |  | —
Interest receivable |  |  | 104 |  |  | 104 |  |  | — |  |  | 104 |  |  | —
Other assets |  |  | 13 |  |  | 13 |  |  | — |  |  | 2 |  |  | 11
Total financial assets, not measured at fair value |  | $ | 89,718 |  | $ | 89,718 |  | $ | 20,195 |  | $ | 69,512 |  | $ | 11
Financial liabilities, not measured at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term borrowings |  | $ | 118 |  | $ | 118 |  | $ | — |  | $ | 118 |  | $ | —
Securities loaned |  |  | 9,838 |  |  | 9,838 |  |  | — |  |  | 9,838 |  |  | —
Payables to customers |  |  | 75,882 |  |  | 75,882 |  |  | — |  |  | 75,882 |  |  | —
Payables to brokers, dealers and clearing organizations |  |  | 182 |  |  | 182 |  |  | — |  |  | 182 |  |  | —
Interest payable |  |  | 6 |  |  | 6 |  |  | — |  |  | 6 |  |  | —
Total financial liabilities, not measured at fair value |  | $ | 86,026 |  | $ | 86,026 |  | $ | — |  | $ | 86,026 |  | $ | —
Offsetting Assets And Liabilities |
|  | September 30, 2021
|  | Gross |  | Amounts |  |  | Net Amounts |  | Amounts Not Offset |  |  |
|  | Amounts |  | Offset in the |  |  | Presented in |  | in the Condensed |  |  |
|  | of Financial |  | Condensed |  |  | the Condensed |  | Consolidated Statements |  |  |
|  | Assets and |  | Consolidated |  |  | Consolidated |  | of Financial Condition |  |  |
|  | Liabilities |  | Statements of |  |  | Statements 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 |  | $ | 10,475 | 1 |  | $ | — |  |  | $ | 10,475 |  | $ | (10,475) |  | $ | —
Securities borrowed |  |  | 3,811 |  |  |  | — |  |  |  | 3,811 |  |  | (3,681) |  |  | 130
Securities purchased under agreements to resell |  |  | 6,108 |  |  |  | — |  |  |  | 6,108 |  |  | (6,108) |  |  | —
Financial instruments owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 31 |  |  |  | — |  |  |  | 31 |  |  | (31) |  |  | —
Currency forward contracts |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  | — |  |  | 1
Total |  | $ | 20,426 |  |  | $ | — |  |  | $ | 20,426 |  | $ | (20,295) |  | $ | 131
|  | (in millions)
Offsetting of financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities loaned |  | $ | 10,535 |  |  | $ | — |  |  | $ | 10,535 |  | $ | (9,934) |  | $ | 601
Financial instruments sold, but not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 32 |  |  |  | — |  |  |  | 32 |  |  | (31) |  |  | 1
Currency forward contracts |  |  | 47 |  |  |  | — |  |  |  | 47 |  |  | — |  |  | 47
Total |  | $ | 10,614 |  |  | $ | — |  |  | $ | 10,614 |  | $ | (9,965) |  | $ | 649
‎
|  | December 31, 2020
|  |  | Gross | Amounts |  |  | Net Amounts |  | Amounts Not Offset |  |  |
|  |  | Amounts | Offset in the |  |  | Presented in |  | in the Condensed |  |  |
|  |  | of Financial | Condensed |  |  | the Condensed |  | Consolidated Statements |  |  |
|  |  | Assets and | Consolidated |  |  | Consolidated |  | of Financial Condition |  |  |
|  |  | Liabilities | Statements of |  |  | Statements 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 |  | $ | 23,071 | 1 |  | $ | — |  |  | $ | 23,071 |  | $ | (23,071) |  | $ | —
Securities borrowed |  |  | 4,956 |  |  |  | — |  |  |  | 4,956 |  |  | (4,716) |  |  | 240
Securities purchased under agreements to resell |  |  | 792 |  |  |  | — |  |  |  | 792 |  |  | (792) |  |  | —
Financial instruments owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 28 |  |  |  | — |  |  |  | 28 |  |  | (25) |  |  | 3
Currency forward contracts |  |  | 9 |  |  |  | — |  |  |  | 9 |  |  | — |  |  | 9
Total |  | $ | 28,856 |  |  | $ | — |  |  | $ | 28,856 |  | $ | (28,604) |  | $ | 252
|  | (in millions)
Offsetting of financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities loaned |  | $ | 9,838 |  |  | $ | — |  |  | $ | 9,838 |  | $ | (9,246) |  | $ | 592
Financial instruments sold, but not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 26 |  |  |  | — |  |  |  | 26 |  |  | (25) |  |  | 1
Currency forward contracts |  |  | 7 |  |  |  | — |  |  |  | 7 |  |  | — |  |  | 7
Total |  | $ | 9,871 |  |  | $ | — |  |  | $ | 9,871 |  | $ | (9,271) |  | $ | 600
________________________ (1)As of September 30, 2021 and December 31, 2020, the Company had $10.5 billion and $23.1 billion, respectively, of securities purchased under agreements to resell that were segregated to satisfy regulatory requirements. These securities are included in “Securities - segregated for regulatory purposes” in the condensed consolidated statements of financial condition. ‎ (2)The Company did not have any balances eligible for netting in accordance with ASC Topic 210-20 at September 30, 2021 and December 31, 2020.
Schedule of Securities Financing Transactions |
|  | September 30, 2021
|  | Remaining Contractual Maturity
|  | Overnight |  | Less than |  | 30 – 90 |  | Over 90 |  |  |
|  | and Open |  | 30 days |  | days |  | days |  | Total
|  | (in millions)
Securities loaned |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  | $ | 10,483 |  | $ | — |  | $ | — |  | $ | — |  | $ | 10,483
Corporate bonds |  |  | 52 |  |  | — |  |  | — |  |  | — |  |  | 52
Total securities loaned |  | $ | 10,535 |  | $ | — |  | $ | — |  | $ | — |  | $ | 10,535
|  | December 31, 2020
|  | Remaining Contractual Maturity
|  | Overnight |  | Less than |  | 30 – 90 |  | Over 90 |  |  |
|  | and Open |  | 30 days |  | days |  | days |  | Total
|  | (in millions)
Securities loaned |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stocks |  | $ | 9,811 |  | $ | — |  | $ | — |  | $ | — |  | $ | 9,811
Corporate bonds |  |  | 27 |  |  | — |  |  | — |  |  | — |  |  | 27
Total securities loaned |  | $ | 9,838 |  | $ | — |  | $ | — |  | $ | — |  | $ | 9,838

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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