XML 41 R14.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET | 3 Months Ended
--- | ---
Jun. 30, 2024
Receivables [Abstract] |
MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET | MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET Margin lending, brokerage and other receivables as of June 30, 2024, and March 31, 2024, consisted of:
| June 30, 2024 |  | March 31, 2024
Margin lending receivables | $ | 1,193,193 |  |  | $ | 1,635,377 |
Receivables from payment processing services | 8,900 |  |  | 5,351 |
Bank commissions receivable | 7,966 |  |  | 11,574 |
Bond coupon receivable and dividends accrued | 4,641 |  |  | 5,429 |
Receivables from brokerage clients | 2,889 |  |  | 2,603 |
Other receivables | 13,533 |  |  | 11,931 |
Allowance for receivables | (13,237) |  |  | (11,990) |
Total margin lending, brokerage and other receivables, net | $ | 1,217,885 |  |  | $ | 1,660,275 |
Margin lending receivables are amounts owed to the Group from customers as a result of borrowings by such customers against the value of qualifying securities, primarily for the purpose of purchasing additional securities. Amounts may fluctuate from period to period as overall client balances change as a result of market levels, client positioning and leverage. Credit exposures arising from margin lending activities are generally mitigated by their short-term nature, the value of collateral held and the Group's right to call for margin when collateral values decline. The fair value of collateral received by the Group under margin loans as of June 30, 2024, and March 31, 2024 were $6,687,324 and $7,579,057, respectively. As of June 30, 2024, and March 31, 2024, collateral from single counterparty comprised $2,479,045 and $2,516,108, 37% and 33% of the total collateral value, respectively. At the same time margin lending receivable from single counterparty comprised $862,986 and $399,196, respectively. For both individual and institutional brokerage clients, the Group may enter into arrangements for securities financing transactions in respect of financial instruments held by the Group on behalf of the client or may use such financial instruments for our own account or the account of another client. The Group maintain omnibus brokerage accounts for certain institutional brokerage clients, in which transactions of the underlying clients of such institutional clients are combined in a single account with us. As noted above, the Group may use the assets within the omnibus accounts to finance, lend, provide credit or provide debt financing or otherwise use and direct the order or manner of assets for financing of other clients of ours. As of June 30, 2024, and March 31, 2024, using historical and statistical data, the Group recorded an allowance for brokerage receivables in the amounts of $13,237 and $11,990, respectively.

X
- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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