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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net profit for the period $ 2,516 $ 8,658
Non-cash items included in net profit:    
Depreciation and amortization 8,019 9,299
Deferred income tax (8,317) 2,453
Amortization of notes receivable 14,679 15,103
Amortization of debt issuance costs 479 734
Amortization of intangibles 3,244 3,244
Provision for credit losses (308) (317)
Share-based compensation 3,030 118
Decrease (increase) in operating assets:    
Cash and securities segregated for regulatory and other purposes 944 (1,840)
Deposits with clearing organizations (33,103) 654
Receivable from brokers and clearing organizations (73,476) (30,255)
Receivable from customers 52,954 31,563
Income taxes receivable 646 9
Securities purchased under agreement to resell 837,513 (242,595)
Securities owned (117,049) (429,846)
Notes receivable (9,967) (11,282)
Other 51,965 29,625
Increase (decrease) in operating liabilities:    
Drafts payable (14,667) (15,006)
Payable to brokers and clearing organizations (83,915) 55,215
Payable to customers 70,690 170,065
Securities sold under agreement to repurchase (730,066) 469,904
Securities sold, but not yet purchased 33,120 50,928
Accrued compensation (19,675) (46,796)
Accounts payable and other liabilities (14,719) (15,135)
Cash (used in) provided by operating activities (25,463) 54,500
Cash flows from investing activities:    
Purchase of office facilities (12,390) (3,865)
Cash used in investing activities (12,390) (3,865)
Cash flows from financing activities:    
Cash dividends paid on Class A non-voting and Class B voting common stock (4,489) (4,506)
Issuance of Class A non-voting common stock 0 337
Repurchase of Class A non-voting common stock for cancellation (1,766) 0
Tax benefit (shortfall) from share-based compensation (137) (1,621)
Senior secured note issuance 0 200,000
Senior secured credit note repayments 0 (22,503)
Subordinated note repayment 0 (100,000)
Increase (decrease) in bank call loans, net 67,100 (87,700)
Cash flow provided by (used in) financing activities 60,708 (15,993)
Net increase in cash and cash equivalents 22,855 34,642
Cash and cash equivalents, beginning of period 70,329 52,854
Cash and cash equivalents, end of period 93,184 87,496
Schedule of non-cash investing and financing activities:    
Employee share plan issuance 1,322 10,446
Acquisition of shares of Oppenheimer Multifamily Housing and Healthcare Finance, Inc. (3,000) 0
Supplemental disclosure of cash flow information:    
Cash paid during the periods for interest 24,237 15,309
Cash paid during the periods for income taxes $ 10,492 $ 7,680