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Fair Value of Financial Instruments - Changes in Fair Value Associated with Level III Financial Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financial instruments and other inventory positions sold, but not yet purchased | Derivative contracts    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 991 $ 7,962
Purchases 0 0
Sales 0 0
Settlements (2,475) (6,191)
Transfers in 0 0
Transfers out 0 0
Total realized and unrealized gains/(losses) 8,018 (780)
Ending balance 6,534 991
Unrealized gains/(losses) for assets/(liabilities) held at period end 6,534 991
Financial instruments and other inventory positions owned | Tax-exempt municipal securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance 273 2,869
Purchases 0 0
Sales 0 (1,901)
Settlements 0 0
Transfers in 0 0
Transfers out (276) 0
Total realized and unrealized gains/(losses) 3 (695)
Ending balance 0 273
Unrealized gains/(losses) for assets/(liabilities) held at period end 0 6
Financial instruments and other inventory positions owned | Derivative contracts    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance 1,819 5,834
Purchases 0 0
Sales 0 0
Settlements (2,705) (4,097)
Transfers in 0 0
Transfers out 0 0
Total realized and unrealized gains/(losses) 3,238 82
Ending balance 2,352 1,819
Unrealized gains/(losses) for assets/(liabilities) held at period end 2,352 1,819
Investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance 176,970 224,280
Purchases 35,334 38,378
Sales (248) (41,042)
Settlements 0 0
Transfers in 963 0
Transfers out (8,182) (48,546)
Total realized and unrealized gains/(losses) 13,129 3,900
Ending balance 217,966 176,970
Unrealized gains/(losses) for assets/(liabilities) held at period end $ 19,684 $ (28,420)