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Financial Assets and Liabilities - Not Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Assets |  |
Cash restricted or segregated under regulations and other | $ 29,821 | $ 35,024
Receivables from broker-dealers and clearing organizations | 1,270,404 | 737,724
Receivables from customers | 118,680 | 106,245
Other assets | 408,586 | 303,720
Liabilities |  |
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 472,895 | 1,167,712
Payables to customers | 33,485 | 23,229
Quoted Prices in Active Markets for Identical Assets (Level 1) |  |
Assets |  |
Cash and cash equivalents | 399,585 | 820,436
Cash restricted or segregated under regulations and other | 29,821 | 35,024
Securities borrowed | 0 | 0
Securities purchased under agreements to resell | 0 | 0
Receivables from broker-dealers and clearing organizations | 0 | 0
Receivables from customers | 0 | 0
Other assets | 9,604 | 10,444
Total Assets | 439,010 | 865,904
Liabilities |  |
Short-term borrowings | 0 | 0
Long-term borrowings | 0 | 0
Securities loaned | 0 | 0
Securities sold under agreements to repurchase | 0 | 0
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 0 | 0
Payables to customers | 0 | 0
Other liabilities | 0 | 0
Total Liabilities | 0 | 0
Significant Other Observable Inputs (Level 2) |  |
Assets |  |
Cash and cash equivalents | 0 | 0
Cash restricted or segregated under regulations and other | 0 | 0
Securities borrowed | 1,782,982 | 1,722,440
Securities purchased under agreements to resell | 502,470 | 1,512,114
Receivables from broker-dealers and clearing organizations | 1,247,603 | 737,724
Receivables from customers | 118,680 | 106,245
Other assets | 19,826 | 20,578
Total Assets | 3,671,561 | 4,099,101
Liabilities |  |
Short-term borrowings | 140,000 | 0
Long-term borrowings | 1,749,054 | 1,758,292
Securities loaned | 1,640,521 | 1,329,446
Securities sold under agreements to repurchase | 836,433 | 1,795,994
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 382,624 | 1,160,051
Payables to customers | 33,485 | 23,229
Other liabilities | 29,229 | 19,300
Total Liabilities | 4,811,346 | 6,086,312
Significant Unobservable Inputs (Level 3) |  |
Assets |  |
Cash and cash equivalents | 0 | 0
Cash restricted or segregated under regulations and other | 0 | 0
Securities borrowed | 0 | 0
Securities purchased under agreements to resell | 0 | 0
Receivables from broker-dealers and clearing organizations | 0 | 0
Receivables from customers | 0 | 0
Other assets | 0 | 0
Total Assets | 0 | 0
Liabilities |  |
Short-term borrowings | 0 | 0
Long-term borrowings | 0 | 0
Securities loaned | 0 | 0
Securities sold under agreements to repurchase | 0 | 0
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 0 | 0
Payables to customers | 0 | 0
Other liabilities | 0 | 0
Total Liabilities | 0 | 0
Carrying Value |  |
Assets |  |
Cash and cash equivalents | 399,585 | 820,436
Cash restricted or segregated under regulations and other | 29,821 | 35,024
Securities borrowed | 1,782,982 | 1,722,440
Securities purchased under agreements to resell | 502,470 | 1,512,114
Receivables from broker-dealers and clearing organizations | 1,247,603 | 737,724
Receivables from customers | 118,680 | 106,245
Other assets | 29,430 | 31,022
Total Assets | 4,110,571 | 4,965,005
Liabilities |  |
Short-term borrowings | 138,202 | 0
Long-term borrowings | 1,726,657 | 1,727,205
Securities loaned | 1,640,521 | 1,329,446
Securities sold under agreements to repurchase | 836,433 | 1,795,994
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 382,624 | 1,160,051
Payables to customers | 33,485 | 23,229
Other liabilities | 29,229 | 19,300
Total Liabilities | 4,787,151 | 6,055,225
Fair Value |  |
Assets |  |
Cash and cash equivalents | 399,585 | 820,436
Cash restricted or segregated under regulations and other | 29,821 | 35,024
Securities borrowed | 1,782,982 | 1,722,440
Securities purchased under agreements to resell | 502,470 | 1,512,114
Receivables from broker-dealers and clearing organizations | 1,247,603 | 737,724
Receivables from customers | 118,680 | 106,245
Other assets | 29,430 | 31,022
Total Assets | 4,110,571 | 4,965,005
Liabilities |  |
Short-term borrowings | 140,000 | 0
Long-term borrowings | 1,749,054 | 1,758,292
Securities loaned | 1,640,521 | 1,329,446
Securities sold under agreements to repurchase | 836,433 | 1,795,994
Payables to broker-dealers and clearing organizations ($90,271 and $7,661, at fair value, as of March 31, 2024 and December 31, 2023, respectively) | 382,624 | 1,160,051
Payables to customers | 33,485 | 23,229
Other liabilities | 29,229 | 19,300
Total Liabilities | $ 4,811,346 | $ 6,086,312

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