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Financial Instruments Owned And Financial Instruments Sold, But Not Yet Purchased | 9 Months Ended
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Sep. 30, 2017
Trading Securities Balance Sheet Reported Amounts [Abstract] |
Financial Instruments Owned And Financial Instruments Sold, But Not Yet Purchased | NOTE 5 – Financial Instruments Owned and Financial Instruments Sold, But Not Yet Purchased The components of financial instruments owned and financial instruments sold, but not yet purchased, at September 30, 2017 and December 31, 2016 are as follows (in thousands):
|  | September 30, 2017 |  |  | December 31, 2016 |
Financial instruments owned: |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 48,900 |  |  | $ | 9,951 |
U.S. government agency securities |  |  | 128,014 |  |  |  | 89,833 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Agency |  |  | 258,348 |  |  |  | 305,774 |
Non-agency |  |  | 37,185 |  |  |  | 28,402 |
Corporate securities: |  |  |  |  |  |  |  |
Fixed income securities |  |  | 409,550 |  |  |  | 299,946 |
Equity securities |  |  | 38,280 |  |  |  | 32,044 |
State and municipal securities |  |  | 145,226 |  |  |  | 159,095 |
|  | $ | 1,065,503 |  |  | $ | 925,045 |
Financial instruments sold, but not yet purchased: |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 297,690 |  |  | $ | 362,536 |
U.S. government agency securities |  |  | 22,140 |  |  |  | 20,549 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Agency |  |  | 65,716 |  |  |  | 94,552 |
Non-agency |  |  | — |  |  |  | 1 |
Corporate securities: |  |  |  |  |  |  |  |
Fixed income securities |  |  | 311,516 |  |  |  | 202,968 |
Equity securities |  |  | 52,261 |  |  |  | 18,395 |
State and municipal securities |  |  | — |  |  |  | 31 |
|  | $ | 749,323 |  |  | $ | 699,032 |
At September 30, 2017 and December 31, 2016, financial instruments owned in the amount of $459.4 million and $992.9 million, respectively, were pledged as collateral for our repurchase agreements and short-term borrowings. Financial instruments owned on a settlement-date basis were $1.3 billion at December 31, 2016. Our financial instruments owned are presented on a trade-date basis in the consolidated statements of financial condition. Financial instruments sold, but not yet purchased, represent obligations of our company to deliver the specified security at the contracted price, thereby creating a liability to purchase the security in the market at prevailing prices in future periods. We are obligated to acquire the securities sold short at prevailing market prices in future periods, which may exceed the amount reflected in the consolidated statements of financial condition.

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- Definition Tabular disclosure of investments in trading securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26610-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (c),(e) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26626-111562 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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