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Regulatory Capital Requirements | 6 Months Ended
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Jun. 30, 2024
Broker-Dealer [Abstract] |
Regulatory Capital Requirements | Regulatory Capital Requirements TWL, DW and TWD are subject to the Uniform Net Capital Rule 15c3-1 under the Exchange Act. TEL and TESL are subject to certain financial resource requirements with the FCA in the UK, TWJ is subject to certain financial resource requirements with the FCA in Japan, TWEU and TESBV are subject to certain finance resource requirements with the AFM in the Netherlands, YB is subject to certain financial resource requirements with ASIC in Australia and TDIFC is subject to certain financial resource requirements with DFSA in the Dubai International Financial Centre. At June 30, 2024 and December 31, 2023, the regulatory capital requirements and regulatory capital for these entities are as follows:
|  | June 30, 2024 |  | December 31, 2023
|  | Regulatory Capital |  | Regulatory Capital Requirement |  | Excess Regulatory Capital |  | Regulatory Capital |  | Regulatory Capital Requirement |  | Excess Regulatory Capital
|  | (dollars in thousands)
TWL |  | $ | 72,913 |  |  | $ | 2,348 |  |  | $ | 70,565 |  |  | $ | 50,243 |  |  | $ | 2,856 |  |  | $ | 47,387 |
DW |  | 181,397 |  |  | 2,814 |  |  | 178,583 |  |  | 156,318 |  |  | 3,579 |  |  | 152,739 |
TWD |  | 54,267 |  |  | 752 |  |  | 53,515 |  |  | 46,976 |  |  | 850 |  |  | 46,126 |
TEL |  | 84,326 |  |  | 39,195 |  |  | 45,131 |  |  | 78,127 |  |  | 37,907 |  |  | 40,220 |
TWJ |  | 5,478 |  |  | 2,440 |  |  | 3,038 |  |  | 6,963 |  |  | 2,029 |  |  | 4,934 |
TWEU |  | 14,731 |  |  | 6,532 |  |  | 8,199 |  |  | 11,912 |  |  | 5,447 |  |  | 6,465 |
TESL |  | 5,792 |  |  | 948 |  |  | 4,844 |  |  | 1,813 |  |  | 955 |  |  | 858 |
TESBV |  | 1,636 |  |  | 818 |  |  | 818 |  |  | 1,683 |  |  | 843 |  |  | 840 |
YB |  | 6,382 |  |  | — |  |  | 6,382 |  |  | 5,261 |  |  | 1,070 |  |  | 4,191 |
TDIFC |  | 182 |  |  | 30 |  |  | 152 |  |  | 250 |  |  | 39 |  |  | 211 |
As SEFs, TW SEF and DW SEF are required to maintain adequate financial resources and liquid financial assets in accordance with CFTC regulations. The required and maintained financial resources and liquid financial assets at June 30, 2024 and December 31, 2023 are as follows:
|  | June 30, 2024 |  | December 31, 2023
|  | Financial Resources |  | Required Financial Resources |  | Excess Financial Resources |  | Financial Resources |  | Required Financial Resources |  | Excess Financial Resources
|  | (dollars in thousands)
TW SEF |  | $ | 67,467 |  |  | $ | 13,500 |  |  | $ | 53,967 |  |  | $ | 43,286 |  |  | $ | 12,500 |  |  | $ | 30,786 |
DW SEF |  | 14,432 |  |  | 8,827 |  |  | 5,605 |  |  | 13,309 |  |  | 8,669 |  |  | 4,640 |
|  | June 30, 2024 |  | December 31, 2023
|  | Liquid Financial Assets |  | Required Liquid Financial Assets |  | Excess Liquid Financial Assets |  | Liquid Financial Assets |  | Required Liquid Financial Assets |  | Excess Liquid Financial Assets
|  | (dollars in thousands)
TW SEF |  | $ | 42,556 |  |  | $ | 3,375 |  |  | $ | 39,181 |  |  | $ | 22,068 |  |  | $ | 3,125 |  |  | $ | 18,943 |
DW SEF |  | 8,213 |  |  | 2,207 |  |  | 6,006 |  |  | 7,935 |  |  | 2,167 |  |  | 5,768 |

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- Definition The entire disclosure of capital requirements and required financial resources under applicable regulations. + References No definition available. + Details
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