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Collateralized Transactions (Tables)

9 Months Ended

Sep. 30, 2025

Collateralized Agreements [Abstract]

Schedule of the Fair Value of Collateralized Transactions

The fair value of the collateralized transactions at September 30, 2025 and December 31, 2024 are summarized as follows:

(in thousands)						September 30, 2025						December 31, 2024
Securities received as collateral:
Securities borrowed						$	3,005,737					$	2,222,054
Securities purchased under agreements to resell						1,265,955						983,753
						$	4,271,692					$	3,205,807

Schedule of Financial Instruments Owned and Pledged, where Counterparty has Right to Repledge

Financial instruments owned and pledged, where the counterparty has the right to repledge, at September 30, 2025 and December 31, 2024 consisted of the following:

(in thousands)						September 30, 2025						December 31, 2024
Equities						$	2,500,017					$	2,269,299
Exchange traded notes						7,267						13,338
						$	2,507,284					$	2,282,637

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- References

No definition available.

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- Definition

Tabular disclosure of customer securities accepted by the entity as collateral and re-pledged to counterparties as collateral or sold, including sources and uses of collateral, fair value of collateral and portion of that collateral that has been sold or re-pledged.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A

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- Definition

Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481444/860-30-45-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A

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