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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)

12 Months Ended

Sep. 30, 2024

Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk [Abstract]

Schedule of Derivative Assets and Liabilities

Listed below are the fair values of the Company’s derivative assets and liabilities as of September 30, 2024 and 2023. Assets represent net unrealized gains and liabilities represent net unrealized losses.

			September 30, 2024												September 30, 2023
(in millions)			Assets (1)						Liabilities (1)						Assets (1)						Liabilities (1)
Derivative contracts not accounted for as hedges:
Exchange-traded commodity derivatives			$	1,383.1					$	1,415.7					$	1,907.0					$	1,890.3
OTC commodity derivatives			1,967.9						1,924.3						1,523.3						1,456.0
Exchange-traded foreign exchange derivatives			2.0						2.0						4.3						4.3
OTC foreign exchange derivatives			975.2						938.2						497.1						455.3
Exchange-traded interest rate derivatives			720.1						728.1						1,507.6						1,509.8
OTC interest rate derivatives			207.1						207.1						417.6						417.6
Exchange-traded equity index derivatives			1,817.4						1,817.4						2,140.9						2,140.9
OTC equity and indices derivatives			127.4						86.7						127.3						68.5
TBA and forward settling securities			26.1						24.4						73.5						47.5
Total derivative contracts not accounted for as hedges			7,226.3						7,143.9						8,198.6						7,990.2
Derivative contracts designated as hedging instruments:
Interest rate swaps			—						0.2						—						24.6
Foreign currency forwards			9.6						—						1.7						2.5
Total derivative contracts designated as hedging instruments			9.6						0.2						1.7						27.1
Gross fair value of derivative contracts			$	7,235.9					$	7,144.1					$	8,200.3					$	8,017.3
Impact of netting and collateral			(6,670.6)						(6,614.6)						(7,731.3)						(7,639.0)
Total fair value included in Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net			$	336.0											$	206.7
Total fair value included in Receivable from clients, net			$	(8.4)											$	(7.9)
Total fair value included in Financial instruments owned, at fair value			$	237.7											$	270.2
Total fair value included in Payables to clients									$	265.9											$	79.8
Total fair value included in Payables to broker-dealers, clearing organizations and counterparties									$	(1.4)											$	10.2
Fair value included in Financial instruments sold, not yet purchased, at fair value									$	265.0											$	288.3

(1)As of September 30, 2024 and 2023, the Company’s derivative contract volume for open positions was approximately 12.2 million and 13.4 million contracts, respectively.

Schedule of Fair Value of Derivative Instruments Designated for Hedging

The fair values of derivative instruments designated for hedging held as of September 30, 2024 and 2023 are as follow:

									September 30, 2024						September 30, 2023
(in millions)			Balance Sheet Location						Fair Value						Fair Value
Asset Derivatives
Derivatives designated as hedging instruments:
Foreign currency forward contracts			Financial instruments owned, net						$	9.6					$	1.7
Total derivatives designated as hedging instruments									$	9.6					$	1.7
Derivative assets, net expected to be released from Other comprehensive income into earnings within the next 12 months:
Foreign currency forward contracts									$	9.2					$	1.4
Total expected to be released from Other comprehensive income into earnings									$	9.2					$	1.4
Liability Derivatives
Derivatives designated as hedging instruments:
Interest rate contracts			Financial instruments sold, not yet purchased						$	0.2					$	24.6
Foreign currency forward contracts			Financial instruments sold, not yet purchased						—						2.5
Total derivatives designated as hedging instruments									$	0.2					$	27.1
Derivative liabilities, net expected to be released from Other comprehensive income into earnings within the next 12 months:
Interest rate contracts									$	0.2					$	20.3
Foreign currency forward contracts									—						1.0
Total expected to be released from Other comprehensive income into earnings									$	0.2					$	21.3

Schedule of Notional Values of Derivative Instruments Designated for Hedging Held

The notional values of derivative instruments designated for hedging held as of September 30, 2024 and 2023 are as follows:

						September 30, 2024						September 30, 2023
(in millions)						Notional Value						Notional Value
Derivatives designated as hedging instruments:
Interest rate contracts						$	500.0					$	2,000.0
Foreign currency forward contracts:
Foreign currency forward contracts to purchase Polish Zloty:
Local currency						zł	156.1					zł	156.1
USD						$	37.5					$	34.0
Foreign currency forward contracts to purchase British Pound Sterling:
Local currency						£	72.0					£	168.0
USD						$	88.8					$	206.9

Schedule of Effects of Derivative Instruments Designated for Hedging Held and Net Gains/(Losses) from Derivative Contracts

The Consolidated Income Statement effects of derivative instruments designated for hedging held for the fiscal years ended September 30, 2024 and 2023 are as follows:

(in millions)			Income Statement Location						Year Ended September 30, 2024						Year Ended September 30, 2023
Total amounts in income related to hedges
Interest rate contracts			Interest income						$	(26.7)					$	(47.0)
Foreign currency forward contracts			Compensation and benefits						9.6						2.3
Total derivatives designated as hedging instruments									$	(17.1)					$	(44.7)
Amount of gain reclassified from accumulated other comprehensive income into income as a result of a forecasted transaction that is no longer probable of occurring									$	—					$	—

The following table sets forth the Company’s net gains/(losses) related to derivative financial instruments for the periods indicated, 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 Consolidated Income Statements.

			Year Ended September 30,
(in millions)			2024						2023						2022
Commodities			$	383.8					$	446.5					$	303.7
Foreign exchange			124.6						269.2						174.4
Interest rate, equities, and indices			100.2						109.0						100.4
TBA and forward settling securities			(135.5)						73.0						226.8
Net gains from derivative contracts			$	473.1					$	897.7					$	805.3

Schedule of Accumulated Other Comprehensive Income Effects of Derivative Instruments Designated for Hedging Held

The accumulated other comprehensive income effects of derivative instruments designated for hedging held for the years ended September 30, 2024 and 2023 are as follow:

			Amount of Gain Recognized in Other Comprehensive Income on Derivatives, net of tax
(in millions)			Year Ended September 30, 2024						Year Ended September 30, 2023
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts			$	18.5					$	18.4
Foreign currency forward contracts			7.2						16.7
Total			$	25.7					$	35.1

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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