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Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables) | 12 Months Ended
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Sep. 30, 2025
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, 2025 and 2024. Assets represent net unrealized gains and liabilities represent net unrealized losses.
| September 30, 2025 |  | September 30, 2024
(in millions) | Assets (1) |  | Liabilities (1) |  | Assets (1) |  | Liabilities (1)
Derivative contracts not accounted for as hedges: |  |  |  |  |  |  |
Exchange-traded commodity derivatives | $ | 2,487.3 |  |  | $ | 2,528.6 |  |  | $ | 1,383.1 |  |  | $ | 1,415.7 |
OTC commodity derivatives | 3,580.7 |  |  | 3,517.4 |  |  | 1,967.9 |  |  | 1,924.3 |
Exchange-traded foreign exchange derivatives | 7.5 |  |  | 7.5 |  |  | 2.0 |  |  | 2.0 |
OTC foreign exchange derivatives | 749.5 |  |  | 1,264.0 |  |  | 975.2 |  |  | 938.2 |
Exchange-traded interest rate derivatives | 361.2 |  |  | 367.4 |  |  | 720.1 |  |  | 728.1 |
OTC interest rate derivatives | 148.3 |  |  | 148.3 |  |  | 207.1 |  |  | 207.1 |
Exchange-traded equity index derivatives | 413.4 |  |  | 413.4 |  |  | 1,817.4 |  |  | 1,817.4 |
OTC equity and indices derivatives | 195.1 |  |  | 138.1 |  |  | 127.4 |  |  | 86.7 |
TBA and forward settling securities | 34.9 |  |  | 76.0 |  |  | 26.1 |  |  | 24.4 |
Total derivative contracts not accounted for as hedges | 7,977.9 |  |  | 8,460.7 |  |  | 7,226.3 |  |  | 7,143.9 |
Derivative contracts designated as hedging instruments: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | — |  |  | — |  |  | 0.2 |
Foreign currency forwards | 9.5 |  |  | 1.0 |  |  | 9.6 |  |  | — |
Total derivative contracts designated as hedging instruments | 9.5 |  |  | 1.0 |  |  | 9.6 |  |  | 0.2 |
Gross fair value of derivative contracts | $ | 7,987.4 |  |  | $ | 8,461.7 |  |  | $ | 7,235.9 |  |  | $ | 7,144.1 |
Impact of netting and collateral | (7,621.7) |  |  | (7,594.3) |  |  | (6,670.6) |  |  | (6,614.6) |
Total fair value included in Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net | $ | 107.7 |  |  |  |  | $ | 336.0 |  |  |
Total fair value included in Receivable from clients, net | $ | 58.1 |  |  |  |  | $ | (8.4) |  |  |
Total fair value included in Financial instruments owned, at fair value | $ | 199.9 |  |  |  |  | $ | 237.7 |  |  |
Total fair value included in Payables to clients |  |  | $ | 530.7 |  |  |  |  | $ | 265.9 |
Total fair value included in Payables to broker-dealers, clearing organizations and counterparties |  |  | $ | 38.4 |  |  |  |  | $ | (1.4) |
Fair value included in Financial instruments sold, not yet purchased, at fair value |  |  | $ | 298.3 |  |  |  |  | $ | 265.0 |
(1)As of September 30, 2025 and 2024, the Company’s derivative contract volume for open positions was approximately 19.2 million and 12.2 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, 2025 and 2024 are as follow:
|  |  | September 30, 2025 |  | September 30, 2024
(in millions) | Balance Sheet Location |  | Fair Value |  | Fair Value
Asset Derivatives |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Financial instruments owned, net |  | $ | 9.5 |  |  | $ | 9.6 |
Total derivatives designated as hedging instruments |  |  | $ | 9.5 |  |  | $ | 9.6 |
Derivative assets, net expected to be released from Other comprehensive income into earnings within the next 12 months: |  |  |  |  |
Foreign currency forward contracts |  |  | $ | 8.0 |  |  | $ | 9.2 |
Total expected to be released from Other comprehensive income into earnings |  |  | $ | 8.0 |  |  | $ | 9.2 |
Liability Derivatives |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |
Interest rate contracts | Financial instruments sold, not yet purchased |  | $ | — |  |  | $ | 0.2 |
Foreign currency forward contracts | Financial instruments sold, not yet purchased |  | 1.0 |  |  | — |
Total derivatives designated as hedging instruments |  |  | $ | 1.0 |  |  | $ | 0.2 |
Derivative liabilities, net expected to be released from Other comprehensive income into earnings within the next 12 months: |  |  |  |  |
Interest rate contracts |  |  | $ | — |  |  | $ | 0.2 |
Total expected to be released from Other comprehensive income into earnings |  |  | $ | — |  |  | $ | 0.2 |
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, 2025 and 2024 are as follows:
|  | September 30, 2025 |  | September 30, 2024
(in millions) |  | Notional Value |  | Notional Value
Derivatives designated as hedging instruments: |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 500.0 |
Foreign currency forward contracts: |  |  |  |
Foreign currency forward contracts to purchase Polish Zloty: |  |  |  |
Local currency |  | zł | 180.0 |  |  | zł | 156.1 |
USD |  | $ | 45.0 |  |  | $ | 37.5 |
Foreign currency forward contracts to purchase British Pound Sterling: |  |  |  |
Local currency |  | £ | 93.0 |  |  | £ | 72.0 |
USD |  | $ | 120.4 |  |  | $ | 88.8 |
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, 2025 and 2024 are as follows:
(in millions) | Income Statement Location |  | Fiscal Year Ended September 30, 2025 |  | Fiscal Year Ended September 30, 2024 |  |
Total gain/(loss) reclassified from Accumulated Other Comprehensive Loss, net into Income: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | Interest income |  | $ | (0.2) |  |  | $ | (26.7) |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | Compensation and benefits |  | 14.1 |  |  | 9.6 |  |  |  |  |  |  |  |  |
Total derivatives designated as hedging instruments |  |  | $ | 13.9 |  |  | $ | (17.1) |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss, net 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) | 2025 |  | 2024 |  | 2023
Commodities | $ | 360.5 |  |  | $ | 383.8 |  |  | $ | 446.5 |
Foreign exchange | 119.1 |  |  | 124.6 |  |  | 269.2 |
Interest rate, equities, and indices | 104.3 |  |  | 100.2 |  |  | 109.0 |
TBA and forward settling securities | 0.6 |  |  | (135.5) |  |  | 73.0 |
Net gains from derivative contracts | $ | 584.5 |  |  | $ | 473.1 |  |  | $ | 897.7 |
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, 2025 and 2024 are as follows:
| Amount of Gain/(Loss) Recognized in Other Comprehensive Income on Derivatives, net of tax
(in millions) | Fiscal Year Ended September 30, 2025 |  | Fiscal Year Ended September 30, 2024
Derivatives in Cash Flow Hedging Relationships: |  |  |
Interest rate contracts | $ | 0.1 |  |  | $ | 18.5 |
Foreign currency forward contracts | (0.7) |  |  | 7.2 |
Total | $ | (0.6) |  |  | $ | 25.7 |

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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 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + 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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + 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 No definition available. + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
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