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Assets and Liabilities, at Fair Value (Tables)

9 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables set forth the Company’s financial and nonfinancial assets and liabilities accounted for at fair value, on a recurring basis, as of June 30, 2024 and September 30, 2023 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of June 30, 2024 and September 30, 2023.

			June 30, 2024
(in millions)			Level 1						Level 2						Level 3						Netting (1)						Total
Assets:
Certificates of deposit			$	12.4					$	—					$	—					$	—					$	12.4
Money market mutual funds			35.6						—						—						—						35.6
Cash and cash equivalents			48.0						—						—						—						48.0
Commodities warehouse receipts			48.4						—						—						—						48.4
Securities and other assets segregated under federal and other regulations			48.4						—						—						—						48.4
U.S. Treasury obligations			3,227.7						—						—						—						3,227.7
To be announced and forward settling securities			—						25.4						—						(21.4)						4.0
Foreign government obligations			17.3						—						—						—						17.3
Derivatives			4,710.5						1,748.8						—						(5,967.9)						491.4
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net			7,955.5						1,774.2						—						(5,989.3)						3,740.4
Receivables from clients, net - Derivatives			76.7						614.8						—						(692.0)						(0.5)
Equity securities			440.3						16.4						—						—						456.7
Corporate and municipal bonds			—						361.1						—						—						361.1
U.S. Treasury obligations			721.8						—						—						—						721.8
U.S. government agency obligations			—						373.9						—						—						373.9
Foreign government obligations			150.5						—						—						—						150.5
Agency mortgage-backed obligations			—						3,469.7						—						—						3,469.7
Asset-backed obligations			—						219.4						—						—						219.4
Derivatives			0.1						732.8						—						(416.2)						316.7
Commodities warehouse receipts			43.0						—						—						—						43.0
Exchange firm common stock			11.8						—						—						—						11.8
Cash flow hedges			—						5.5						—						—						5.5
Mutual funds and other			22.5						—						2.8						—						25.3
Financial instruments owned			1,390.0						5,178.8						2.8						(416.2)						6,155.4
Physical commodities inventory			193.8						150.7						—						—						344.5
Total assets at fair value			$	9,712.4					$	7,718.5					$	2.8					$	(7,097.5)					$	10,336.2
Liabilities:
Accounts payable and other accrued liabilities			$	—					$	—					$	1.7					$	—					$	1.7
Payables to clients - Derivatives			4,418.5						292.5						—						(4,323.7)						387.3
TBA and forward settling securities			—						26.2						—						(20.2)						6.0
Derivatives			371.6						1,963.8						—						(2,337.8)						(2.4)
Payable to broker-dealers, clearing organizations and counterparties			371.6						1,990.0						—						(2,358.0)						3.6
Equity securities			272.0						5.1						—						—						277.1
Foreign government obligations			130.6						—						—						—						130.6
Corporate and municipal bonds			—						141.3						—						—						141.3
U.S. Treasury obligations			2,662.3						—						—						—						2,662.3
U.S. government agency obligations			—						13.7						—						—						13.7
Agency mortgage-backed obligations			—						12.1						—						—						12.1
Asset-backed obligations			—						4.0						—						—						4.0
Derivatives			5.8						659.8						—						(340.1)						325.5
Cash flow hedges			—						2.1						—						—						2.1
Other			—						—						1.1						—						1.1
Financial instruments sold, not yet purchased			3,070.7						838.1						1.1						(340.1)						3,569.8
Total liabilities at fair value			$	7,860.8					$	3,120.6					$	2.8					$	(7,021.8)					$	3,962.4

(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy.

			September 30, 2023
(in millions)			Level 1						Level 2						Level 3						Netting (1)						Total
Assets:
Certificates of deposit			$	8.7					$	—					$	—					$	—					$	8.7
Money market mutual funds			57.8						—						—						—						57.8
Cash and cash equivalents			66.5						—						—						—						66.5
Commodities warehouse receipts			5.8						—						—						—						5.8
Securities and other assets segregated under federal and other regulations			5.8						—						—						—						5.8
U.S. Treasury obligations			4,023.8						—						—						—						4,023.8
TBA and forward settling securities			—						73.5						—						(31.7)						41.8
Foreign government obligations			17.8						—						—						—						17.8
Derivatives			5,497.5						1,135.9						—						(6,468.5)						164.9
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net			9,539.1						1,209.4						—						(6,500.2)						4,248.3
Receivables from clients, net - Derivatives			61.7						561.3												(630.9)						(7.9)
Equity securities			324.0						10.3						—						—						334.3
Corporate and municipal bonds			—						284.2						—						—						284.2
U.S. Treasury obligations			531.7						—						—						—						531.7
U.S. government agency obligations			—						451.7						—						—						451.7
Foreign government obligations			43.3						—						—						—						43.3
Agency mortgage-backed obligations			—						2,865.8						—						—						2,865.8
Asset-backed obligations			—						138.8						—						—						138.8
Derivatives			0.6						868.1						—						(600.2)						268.5
Commodities leases			—						16.0						—						—						16.0
Commodities warehouse receipts			54.7						—						—						—						54.7
Exchange firm common stock			12.0						—						—						—						12.0
Cash flow hedges			—						1.7						—						—						1.7
Mutual funds and other			39.3						—						2.8						—						42.1
Financial instruments owned			1,005.6						4,636.6						2.8						(600.2)						5,044.8
Physical commodities inventory			240.3						146.2						—						—						386.5
Total assets at fair value			$	10,919.0					$	6,553.5					$	2.8					$	(7,731.3)					$	9,744.0
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities			$	—					$	—					$	1.5					$	—					$	1.5
Payables to clients - Derivatives			5,430.7						226.2												(5,577.1)						79.8
TBA and forward settling securities			—						47.5						—						(31.4)						16.1
Derivatives			112.2						1,402.0						—						(1,520.1)						(5.9)
Payable to broker-dealers, clearing organizations and counterparties			112.2						1,449.5						—						(1,551.5)						10.2
Equity securities			230.6						5.5						—						—						236.1
Foreign government obligations			21.5						—						—						—						21.5
Corporate and municipal bonds			—						81.6						—						—						81.6
U.S. Treasury obligations			2,409.3						—						—						—						2,409.3
U.S. government agency obligations			—						5.1						—						—						5.1
Agency mortgage-backed obligations			—						31.7						—						—						31.7
Derivatives			2.4						769.2						—						(510.4)						261.2
Cash flow hedges			—						27.1						—						—						27.1
Other			—						10.9						1.1						—						12.0
Financial instruments sold, not yet purchased			2,663.8						931.1						1.1						(510.4)						3,085.6
Total liabilities at fair value			$	8,206.7					$	2,606.8					$	2.6					$	(7,639.0)					$	3,177.1

(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy.

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

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