XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Financial Instruments Owned And Financial Instruments Sold, But Not Yet Purchased | 9 Months Ended
--- | ---
Sep. 30, 2021
Investments Debt And Equity Securities [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, 2021 and December 31, 2020 are as follows (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Financial instruments owned: |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 16,829 |  |  | $ | 46,900 |
U.S. government agency securities |  |  | 182,636 |  |  |  | 56,450 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Agency |  |  | 303,684 |  |  |  | 216,434 |
Non-agency |  |  | 19,697 |  |  |  | 107 |
Asset-backed securities |  |  | 74,783 |  |  |  | 3,394 |
Corporate securities: |  |  |  |  |  |  |  |
Fixed income securities |  |  | 318,288 |  |  |  | 194,575 |
Equity securities |  |  | 91,874 |  |  |  | 67,593 |
Sovereign debt |  |  | 9,920 |  |  |  | 1,150 |
State and municipal securities |  |  | 162,821 |  |  |  | 96,150 |
Loans |  |  | 18,854 |  |  |  | 11,275 |
|  | $ | 1,199,386 |  |  | $ | 694,028 |
Financial instruments sold, but not yet purchased: |  |  |  |  |  |  |  |
U.S. government securities |  | $ | 366,014 |  |  | $ | 91,974 |
U.S. government agency securities |  |  | 44,638 |  |  |  | — |
Agency mortgage-backed securities |  |  | 109,887 |  |  |  | 141,227 |
Corporate securities: |  |  |  |  |  |  |  |
Fixed income securities |  |  | 161,529 |  |  |  | 162,626 |
Equity securities |  |  | 30,813 |  |  |  | 30,848 |
Other (1) |  |  | 8,147 |  |  |  | 11,303 |
|  | $ | 721,028 |  |  | $ | 437,978 |
(1) | Includes sovereign debt and state and municipal securities.
At September 30, 2021 and December 31, 2020, financial instruments owned in the amount of $206.0 million and $194.0 million, respectively, were pledged as collateral for our repurchase agreements and short-term borrowings. 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.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References No definition available. + Details
Name: | us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration