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Geographic Information and Business Segments - Segments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 3,632,118 $ 2,876,949 $ 2,293,373
Operating Expenses:      
Brokerage, exchange, clearance fees and payments for order flow, net 769,774 674,426 508,358
Interest and dividends expense 647,448 529,177 500,467
Other segment items 1,120,567 1,028,376 959,417
Total operating expenses 2,537,789 2,231,979 1,968,242
Income before income taxes and noncontrolling interest 1,094,329 644,970 325,131
Operating segments | Market Making      
Revenues:      
Total revenues 2,949,221 2,374,096 1,843,523
Operating Expenses:      
Brokerage, exchange, clearance fees and payments for order flow, net 650,150 573,382 420,608
Interest and dividends expense 641,584 524,158 497,895
Other segment items 766,893 685,504 609,418
Total operating expenses 2,058,627 1,783,044 1,527,921
Income before income taxes and noncontrolling interest 890,594 591,052 315,602
Operating segments | Execution Services      
Revenues:      
Total revenues 668,192 507,230 446,542
Operating Expenses:      
Brokerage, exchange, clearance fees and payments for order flow, net 119,624 101,044 87,750
Interest and dividends expense 5,864 5,019 2,572
Other segment items 352,142 339,407 345,780
Total operating expenses 477,630 445,470 436,102
Income before income taxes and noncontrolling interest 190,562 61,760 10,440
Corporate      
Revenues:      
Total revenues 14,705 (4,377) 3,308
Operating Expenses:      
Brokerage, exchange, clearance fees and payments for order flow, net 0 0 0
Interest and dividends expense 0 0 0
Other segment items 1,532 3,465 4,219
Total operating expenses 1,532 3,465 4,219
Income before income taxes and noncontrolling interest $ 13,173 $ (7,842) $ (911)