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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:      
Net income $ 305.9 $ 260.8 $ 238.5
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:      
Depreciation and amortization 67.5 53.1 51.0
Amortization of operating right of use assets 31.5 21.5 14.0
Provision for bad debts, net of recoveries 3.1 0.6 16.5
Deferred income taxes 7.3 (10.5) (2.4)
Loss on extinguishment of debt 0.0 3.7 0.0
Amortization and extinguishment of debt issuance costs 4.7 5.4 5.8
Actuarial adjustment on pension and postretirement benefits (0.1) 0.1 0.3
Amortization of share-based compensation expense 49.0 37.2 28.0
Loss on disposal of property and equipment 2.3 0.0 0.0
Gain on acquisition 0.0 0.0 (23.5)
Accretion of deferred consideration 1.1 0.0 0.0
Adjustment to fair value of deferred consideration (1.5) 0.0 0.0
Loss on equity method investment 0.3 0.0 0.0
Changes in operating assets and liabilities, net:      
Securities and other assets segregated under federal and other regulations 1,599.0 (46.0) 599.5
Securities purchased under agreements to resell (3,542.7) (2,222.0) (1,307.5)
Securities borrowed (1,080.8) (533.2) 80.7
Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net 182.6 262.5 (595.6)
Receivable from clients, net (285.5) (330.3) (80.5)
Notes receivable, net 0.0 0.2 (0.1)
Income taxes receivable (19.7) 7.2 (13.4)
Financial instruments owned, at fair value (1,801.5) (1,714.4) (857.9)
Physical commodities inventory, net (231.2) (144.1) (1.3)
Other assets (62.3) (119.8) (60.4)
Accounts payable and other accrued liabilities 108.4 (5.3) 82.5
Operating lease liabilities (25.5) (9.8) (8.0)
Payable to clients 2,881.0 369.9 81.4
Payable to broker-dealers, clearing organizations and counterparties 229.2 291.8 (217.8)
Income taxes payable (4.9) (19.6) 29.3
Securities sold under agreements to repurchase 4,969.7 4,054.7 1,331.0
Securities loaned 934.9 498.6 (72.2)
Financial instruments sold, not yet purchased, at fair value 66.5 (205.4) 658.4
Net cash provided by/(used in) operating activities 4,388.3 506.9 (23.7)
Cash flows from investing activities:      
Collection of notes receivable 0.0 5.0 0.0
Cash paid for acquisitions of businesses and assets, net of cash acquired (392.1) (2.3) (6.1)
Equity method investment (8.0) 0.0 0.0
Purchase of exchange memberships and common stock 0.0 (1.2) 0.0
Purchase of property and equipment and internally developed software (65.4) (65.2) (46.9)
Net cash used in investing activities (465.5) (63.7) (53.0)
Cash flows from financing activities:      
Net change in lenders under loans with maturities 90 days or less 317.4 (2.2) (119.3)
Proceeds from lenders under loans with maturities greater than 90 days 0.0 10.0 187.0
Repayments of lenders under loans with maturities greater than 90 days 0.0 (10.0) (222.0)
Proceeds from issuance of senior secured notes 625.0 550.0 0.0
Repayment of senior secured notes 0.0 (347.9) 0.0
Deferred payments on acquisitions (21.2) (9.6) (18.7)
Debt issuance costs (10.5) (7.7) 0.0
Shares withheld to cover taxes on vesting of equity awards (6.6) (2.3) 0.0
Exercise of stock options 10.7 7.7 3.7
Net cash provided by/(used in) financing activities 914.8 188.0 (169.3)
Effect of exchange rates on cash, segregated cash, cash equivalents, and segregated cash equivalents 10.0 (0.3) 2.6
Net increase/(decrease) in cash, segregated cash, cash equivalents, and segregated cash equivalents 4,847.6 630.9 (243.4)
Cash, segregated cash, cash equivalents, and segregated cash equivalents at beginning of period 6,672.6 6,041.7 6,285.1
Cash, segregated cash, cash equivalents, and segregated cash equivalents at end of period 11,520.2 6,672.6 6,041.7
Supplemental disclosure of cash flow information:      
Cash paid for interest 1,461.5 1,230.2 786.5
Income taxes paid, net of cash refunds 118.2 117.8 71.0
Supplemental disclosure of non-cash investing and financing activities:      
Identified intangible assets and goodwill on acquisitions 665.2 5.6 10.6
Additional consideration payable related to acquisitions, net 33.6 3.7 11.1
Acquisition consideration paid in common stock 300.1 0.0 0.0
Acquisition consideration paid in silver bullion 12.6 0.0 0.0
Acquisition of businesses:      
Assets acquired 7,412.0 0.7 141.6
Liabilities acquired 7,001.1 0.6 84.1
Total net assets acquired 410.9 0.1 57.5
Cash and cash equivalents 1,605.8 1,269.0 1,108.3
Cash segregated under federal and other regulations [1] 4,321.1 2,789.4 2,420.5
Securities segregated under federal and other regulations [2] 478.8 0.0 0.0
Cash segregated and deposited with or pledged to exchange-clearing organizations and other futures commission merchants (“FCMs”) [3] 3,948.5 1,688.5 1,256.5
Securities Segregated under Other Regulations [4] 1,166.0 925.7 1,256.4
Total cash, segregated cash, cash equivalents and segregated cash equivalents shown in the consolidated statements of cash flows $ 11,520.2 $ 6,672.6 $ 6,041.7
[1] Represents segregated client cash held at third-party banks included within Cash, securities and other assets segregated under federal and other regulations on the Consolidated Balance Sheets.
[2] Represents segregated client United States (“U.S.”). Treasury obligations and U.S. government agency obligations. Excludes segregated commodity warehouse receipts, segregated U.S. Treasury obligations with acquired maturities of greater than 90 days, and other assets, combined totaling $471.1 million, $51.8 million, and $5.8 million as of September 30, 2025, 2024, and 2023, respectively, included within Cash, securities and other assets segregated under federal and other regulations on the Consolidated Balance Sheets.
[3] Represents segregated client cash on deposit with, or pledged to, exchange clearing organizations and other FCMs. Excludes non-segregated cash and other assets, combined totaling $2,629.5 million, $2,662.0 million, and $2,218.3 million as of September 30, 2025, 2024, and 2023, respectively, included within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net on the Consolidated Balance Sheets.
[4] Represents segregated client U.S. Treasury obligations and U.S. government agency obligations on deposit with, or pledged to, exchange clearing organizations and other FCMs. Excludes segregated securities pledged to exchange-clearing organizations with acquired maturities greater than 90 days and other assets, combined totaling $5,146.7 million, $2,007.0 million, and $2,712.6 million as of September 30, 2025, 2024, and 2023, respectively, included within Deposits with and receivables from broker-dealers, clearing organizations, and counterparties, net on the Consolidated Balance Sheets.