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Borrowings (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Instrument [Line Items]  
Schedule of short-term debt
The following summarizes the Company's short-term borrowing balances outstanding, net of related debt issuance costs, with each described in further detail below.
March 31, 2024
(in thousands)Borrowing OutstandingDeferred Debt Issuance CostShort-term Borrowings, net
Broker-dealer credit facilities$140,000 $(1,798)$138,202 
$140,000 $(1,798)$138,202 
December 31, 2023
(in thousands)Borrowing OutstandingDeferred Debt Issuance CostShort-term Borrowings, net
Broker-dealer credit facilities$— $— $— 
$— $— $— 
Outstanding borrowings and financing capacity or unused available capacity under the company’s borrowing arrangements
The following summarizes the Company’s broker-dealer credit facilities' carrying values, net of unamortized debt issuance costs, where applicable. These balances are included within Short-term borrowings on the Condensed Consolidated Statements of Financial Condition.

 At March 31, 2024
(in thousands)Interest RateFinancing AvailableBorrowing OutstandingDeferred Debt Issuance CostOutstanding Borrowings, net
Broker-dealer credit facilities:     
Uncommitted facility6.50%$400,000 $80,000 $(1,798)$78,202 
Committed facility (1)6.75%650,000 50,000 — 50,000 
Overdraft facility8.84%10,000 10,000 — 10,000 
 $1,060,000 $140,000 $(1,798)$138,202 
(1) Interest rate for Borrowing Base A Loan and Borrowing Base B Loan under the Committed Facility was 6.75% and 9.00%, respectively. There was no balance outstanding under Borrowing Base B Loan as of March 31, 2024.
 At December 31, 2023
(in thousands)Interest RateFinancing AvailableBorrowing OutstandingDeferred Debt Issuance CostOutstanding Borrowings, net
Broker-dealer credit facilities:     
Uncommitted facility (1)6.50%$400,000 $— $— $— 
Committed facility6.75%650,000 — — — 
Overdraft facility8.88%10,000 — — — 
 $1,060,000 $— $— $— 
(1) $2.3 million of deferred debt issuance costs are included within Other assets on the Consolidated Statement of Financial Condition.
Schedule of interest expense on debt
The following summarizes interest expense for the broker-dealer facilities. Interest expense is included within Interest and dividends expense in the accompanying Condensed Consolidated Statements of Comprehensive Income.

 Three Months Ended March 31,
(in thousands)20242023
Broker-dealer credit facilities:
Uncommitted facility$601 $1,561 
Committed facility877 — 
Overdraft facility113 92 
 $1,591 $1,653 
Schedule of aggregate future required principal payments based on terms of loan
As of March 31, 2024, aggregate future required minimum principal payments based on the terms of the long-term borrowings were as follows:

(in thousands)March 31, 2024
Remainder of 2024$— 
2025$— 
202623,125 
202717,000 
202818,000 
20291,692,000 
Total principal of long-term borrowings$1,750,125 
Short-Term Credit Facilities  
Debt Instrument [Line Items]  
Schedule of reconciliation of the senior secured credit facility The proceeds of these facilities are used to meet margin requirements associated with the products traded by the Company in the ordinary course, and amounts borrowed are collateralized by the Company’s trading accounts with the applicable financial institution.
 At March 31, 2024
(in thousands)Weighted Average
Interest Rate		Financing
Available		Borrowing
Outstanding
Prime Brokerage Credit Facilities:   
Prime brokerage credit facilities (1)7.83%$598,214 $170,713 
 $598,214 $170,713 
 At December 31, 2023
(in thousands)Weighted Average
Interest Rate		Financing
Available		Borrowing
Outstanding
Prime Brokerage Credit Facilities:   
Prime brokerage credit facilities (1)7.96%$599,180 $175,256 
 $599,180 $175,256 
(1)   Outstanding borrowings are included with Receivables from/Payables to broker-dealers and clearing organizations within the Condensed Consolidated Statements of Financial Condition.
Senior Secured Credit Facility  
Debt Instrument [Line Items]  
Schedule of reconciliation of the senior secured credit facility
The following summarizes the Company’s long-term borrowings, net of unamortized discount and debt issuance costs, where applicable:

  At March 31, 2024
(in thousands)Maturity
Date		Interest
Rate		Outstanding PrincipalDiscountDeferred Debt Issuance CostOutstanding Borrowings, net
Long-term borrowings:      
  First Lien Term Loan FacilityJanuary 20298.43%$1,727,000 $(2,953)$(20,515)$1,703,532 
  SBI bondsJanuary 20265.00%23,125 — — 23,125 
 $1,750,125 $(2,953)$(20,515)$1,726,657 
  At December 31, 2023
(in thousands)Maturity
Date		Interest
Rate		Outstanding PrincipalDiscountDeferred Debt Issuance CostOutstanding Borrowings, net
Long-term borrowings:      
  First Lien Term Loan FacilityJanuary 20298.46%$1,727,000 $(3,107)$(21,504)$1,702,389 
  SBI bondsJanuary 20265.00%24,816 — — 24,816 
$1,751,816 $(3,107)$(21,504)$1,727,205