XML 59 R38.htm IDEA: XBRL DOCUMENT v3.25.3
Assets and Liabilities, at Fair Value (Tables)
 12 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial and Non-Financial Assets and Liabilities Accounted at Fair Value on a 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 September 30, 2025 and 2024 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of September 30, 2025 and 2024.
 September 30, 2025
(in millions) Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $10.3 $— $— $— $10.3 
Money market mutual funds and other94.8 — — — 94.8 
Cash and cash equivalents105.1 — — — 105.1 
Commodities warehouse receipts145.4 — — — 145.4 
U.S. government agency obligations— 110.7 — — 110.7 
U.S. Treasury obligations693.9 — — — 693.9 
Securities and other assets segregated under federal and other regulations839.3 110.7 — — 950.0 
U.S. Treasury obligations5,210.9 — — — 5,210.9 
U.S. government agency obligations— 1,103.1 — — 1,103.1 
To be announced ("TBA") and forward settling securities — 34.9 — (30.1)4.8 
Foreign government obligations21.2 — — — 21.2 
Derivatives3,208.2 3,508.7 — (6,614.0)102.9 
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net8,440.3 4,646.7 — (6,644.1)6,442.9 
Receivable from clients, net - Derivatives61.2 506.5 (509.6)58.1 
Equity securities 556.0 6.7 — — 562.7 
Corporate and municipal bonds— 485.7 — — 485.7 
U.S. Treasury obligations678.8 — — — 678.8 
U.S. government agency obligations— 701.9 — — 701.9 
Foreign government obligations— 4.1 — — 4.1 
Agency mortgage-backed obligations— 5,378.9 — — 5,378.9 
Asset-backed obligations— 373.4 — — 373.4 
Derivatives— 658.4 — (468.0)190.4 
Commodities warehouse receipts 144.6 — — — 144.6 
Exchange firm common stock 47.0 — — — 47.0 
Cash flow hedges— 9.5 — — 9.5 
Mutual funds and other25.1 — 2.3 — 27.4 
Financial instruments owned1,451.5 7,618.6 2.3 (468.0)8,604.4 
Physical commodities inventory221.8 249.3 — — 471.1 
Total assets at fair value$11,119.2 $13,131.8 $2.3 $(7,621.7)$16,631.6 
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities$— $— $32.3 $— $32.3 
Payables to clients - Derivatives3,113.1 904.1 — (3,486.5)530.7 
To be announced and forward settling securities — 76.0 — (26.1)49.9 
Derivatives197.5 3,481.1 — (3,690.1)(11.5)
Payable to broker-dealers, clearing organizations and counterparties197.5 3,557.1 — (3,716.2)38.4 
Equity securities 367.3 4.4 — — 371.7 
Corporate and municipal bonds— 264.1 — — 264.1 
U.S. Treasury obligations1,983.2 — — — 1,983.2 
U.S. government agency obligations— 1.3 — — 1.3 
Agency mortgage-backed obligations— 1.1 — — 1.1 
Derivatives6.3 682.6 — (391.6)297.3 
Cash flow hedges— 1.0 — — 1.0 
Other— — 0.1 — 0.1 
Financial instruments sold, not yet purchased2,356.8 954.5 0.1 (391.6)2,919.8 
Total liabilities at fair value $5,667.4 $5,415.7 $32.4 $(7,594.3)$3,521.2 
(1)Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level are included in that level.
 September 30, 2024
(in millions) Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $13.9 $— $— $— $13.9 
Money market mutual funds35.3 — — — 35.3 
Cash and cash equivalents49.2 — — — 49.2 
Commodities warehouse receipts51.8 — — — 51.8 
Securities and other assets segregated under federal and other regulations51.8 — — — 51.8 
U.S. Treasury obligations2,933.2 — — — 2,933.2 
To be announced and forward settling securities — 26.1 — (18.3)7.8 
Foreign government obligations18.3 — — — 18.3 
Derivatives3,900.1 2,168.2 — (5,740.1)328.2 
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net6,851.6 2,194.3 — (5,758.4)3,287.5 
Receivable from clients, net - Derivatives22.4 506.2 — (537.0)(8.4)
Equity securities 363.9 15.0 — — 378.9 
Corporate and municipal bonds— 322.1 — — 322.1 
U.S. Treasury obligations1,088.6 — — — 1,088.6 
U.S. government agency obligations— 531.0 — — 531.0 
Foreign government obligations41.4 — — — 41.4 
Agency mortgage-backed obligations— 3,837.2 — — 3,837.2 
Asset-backed obligations— 223.5 — — 223.5 
Derivatives0.1 603.2 — (375.2)228.1 
Commodities warehouse receipts 67.8 — — — 67.8 
Exchange firm common stock 13.2 — — — 13.2 
Cash flow hedges— 9.6 — — 9.6 
Mutual funds and other23.6 — 2.1 — 25.7 
Financial instruments owned1,598.6 5,541.6 2.1 (375.2)6,767.1 
Physical commodities inventory207.6 169.0 — — 376.6 
Total assets at fair value$8,781.2 $8,411.1 $2.1 $(6,670.6)$10,523.8 
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities$— $— $2.3 $— $2.3 
Payables to clients - Derivatives3,577.1 228.9 — (3,540.1)265.9 
TBA and forward settling securities — 24.4 — (22.9)1.5 
Derivatives378.0 2,356.4 — (2,737.3)(2.9)
Payable to broker-dealers, clearing organizations and counterparties378.0 2,380.8 — (2,760.2)(1.4)
Equity securities 219.8 5.0 — — 224.8 
Foreign government obligations41.0 — — — 41.0 
Corporate and municipal bonds— 154.6 — — 154.6 
U.S. Treasury obligations2,139.3 — — — 2,139.3 
U.S. government agency obligations— 0.2 — — 0.2 
Agency mortgage-backed obligations— 23.6 — — 23.6 
Asset-backed obligations— 3.9 — — 3.9 
Derivatives8.1 571.0 — (314.3)264.8 
Cash flow hedges— 0.2 — — 0.2 
Other— — 0.9 — 0.9 
Financial instruments sold, not yet purchased2,408.2 758.5 0.9 (314.3)2,853.3 
Total liabilities at fair value $6,363.3 $3,368.2 $3.2 $(6,614.6)$3,120.1 
(1)Represents cash collateral and the impact of netting across the levels of the fair value hierarchy. Netting among positions classified within the same level are included in that level.