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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables) | 3 Months Ended
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Dec. 31, 2020
Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract] |
Schedule of Derivative Instruments | Listed below are the fair values of the Company’s derivative assets and liabilities as of December 31, 2020 and September 30, 2020. Assets represent net unrealized gains and liabilities represent net unrealized losses.
| December 31, 2020 |  | September 30, 2020
(in millions) | Assets (1) |  | Liabilities (1) |  | Assets (1) |  | Liabilities (1)
Derivative contracts not accounted for as hedges: |  |  |  |  |  |  |
Exchange-traded commodity derivatives | $ | 1,594.0 |  |  | $ | 1,600.9 |  |  | $ | 1,637.2 |  |  | $ | 1,747.3 |
OTC commodity derivatives | 763.2 |  |  | 647.4 |  |  | 553.9 |  |  | 433.2 |
Exchange-traded foreign exchange derivatives | 32.8 |  |  | 44.4 |  |  | 9.3 |  |  | 13.0 |
OTC foreign exchange derivatives | 378.1 |  |  | 303.2 |  |  | 520.8 |  |  | 461.5 |
Exchange-traded interest rate derivatives | 88.6 |  |  | 86.3 |  |  | 271.1 |  |  | 200.7 |
OTC interest rate derivatives | 84.5 |  |  | 84.9 |  |  | 96.0 |  |  | 96.6 |
Exchange-traded equity index derivatives | 51.1 |  |  | 28.2 |  |  | 32.1 |  |  | 39.8 |
OTC equity and indices derivatives | 149.9 |  |  | 90.4 |  |  | 113.0 |  |  | 55.4 |
TBA and forward settling securities | 28.2 |  |  | 30.8 |  |  | 31.0 |  |  | 22.0 |
Gross fair value of derivative contracts | $ | 3,170.4 |  |  | $ | 2,916.5 |  |  | $ | 3,264.4 |  |  | $ | 3,069.5 |
Impact of netting and collateral | (3,053.1) |  |  | (2,767.4) |  |  | (3,319.0) |  |  | (3,100.7) |
Total fair value included in 'Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net' | $ | (11.8) |  |  |  |  | $ | (173.5) |  |  |
Total fair value included in 'Receivables from clients, net' | $ | 2.2 |  |  |  |  | $ | 1.5 |  |  |
Total fair value included in 'Financial instruments owned, at fair value' | $ | 126.9 |  |  |  |  | $ | 117.4 |  |  |
Total fair value included in 'Payables to clients' |  |  | $ | (121.3) |  |  |  |  | $ | (222.7) |
Total fair value included in 'Payables to broker-dealers, clearing organizations and counterparties’ |  |  | $ | 30.6 |  |  |  |  | $ | 14.7 |
Total fair value included in 'Financial instruments sold, not yet purchased, at fair value' |  |  | $ | 239.8 |  |  |  |  | $ | 176.8 |
(1)As of December 31, 2020 and September 30, 2020, the Company’s derivative contract volume for open positions were approximately 7.4 million and 7.9 million contracts, respectively.
Schedule of Derivative Instruments Included in Trading Activities | As of December 31, 2020 and September 30, 2020, these transactions are summarized as follows:
|  | December 31, 2020 |  | September 30, 2020
(in millions) |  | Gain / (Loss) |  | Notional Amounts |  | Gain / (Loss) |  | Notional Amounts
Unrealized gain on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | 25.6 |  |  | $ | 6,190.7 |  |  | $ | 10.8 |  |  | $ | 5,389.3 |
Unrealized loss on TBA securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | — |  |  | $ | 136.9 |  |  | $ | (1.7) |  |  | $ | 2,647.7 |
Unrealized gain on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | — |  |  | (120.4) |  |  | $ | 2.8 |  |  | $ | (2,978.7) |
Unrealized loss on TBA securities sold within payables to broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | (30.8) |  |  | $ | (7,613.1) |  |  | $ | (13.0) |  |  | $ | (6,549.4) |
Unrealized gain on forward settling securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | 1.4 |  |  | 1,392.7 |  |  | $ | — |  |  | $ | — |
Unrealized gain on forward settling securities sold within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | 1.2 |  |  | $ | (1,040.6) |  |  | $ | 17.4 |  |  | $ | (1,946.0) |
Unrealized loss on forward settling securities purchased within deposits with and receivables from broker-dealers, clearing organizations and counterparties and related notional amounts |  | $ | — |  |  | — |  |  | $ | (7.3) |  |  | $ | 2,447.1 |
(1) The notional amounts of these instruments reflect the extent of the Company's involvement in TBA and forward settling securities and do not represent risk of loss due to counterparty non-performance. |  |  |  |  |  |  |  |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table sets forth the Company’s net gains (losses) related to derivative financial instruments for the three months ended December 31, 2020 and 2019 in accordance with the Derivatives and Hedging Topic of the ASC. The net gains (losses) set forth below are included in ‘principal gains, net’ and ‘cost of sales of physical commodities’ in the condensed consolidated income statements.
| Three Months Ended December 31, |  |
(in millions) | 2020 |  | 2019 |  |  |  |
Commodities | $ | 4.2 |  |  | $ | 18.2 |  |  |  |  |
Foreign exchange | 36.0 |  |  | 2.2 |  |  |  |  |
Interest rate, equities, and indices | 12.6 |  |  | (0.4) |  |  |  |  |
TBA and forward settling securities | (8.5) |  |  | (0.9) |  |  |  |  |
Net gains from derivative contracts | $ | 44.3 |  |  | $ | 19.1 |  |  |  |  |

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- Definition Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract] + References No definition available. + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of gains and losses on derivative instruments included in an entity's trading activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4F -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624186-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 55 -Paragraph 184 -URI http://asc.fasb.org/extlink&oid=121582272&loc=SL5634876-113961 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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