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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net profit (loss) for the year $ (851) $ 12,617 $ 40,780
Non-cash items included in net profit/(loss):      
Depreciation and amortization of office facilities and leasehold improvements 10,466 11,899 12,448
Deferred income taxes (26,642) (745) 31,606
Amortization of notes receivable 19,515 19,699 19,657
Amortization of debt issuance costs 639 986 643
Amortization of intangible assets 3,889 5,390 4,324
Provision for (reversal of) credit losses (292) (168) 338
Share-based compensation 4,191 1,100 4,242
Reduction of excess of fair value of acquired assets over cost (7,020)    
Decrease (increase) in operating assets:      
Cash and securities segregated for regulatory and other purposes (2,914) (165) (1,456)
Deposits with clearing organizations 9,862 (12,588) 2,570
Receivable from brokers and clearing Organizations (191,586) 14,731 88,068
Receivable from customers 20,173 87,163 (98,497)
Income taxes receivable 6,292 371 (2,679)
Securities purchased under agreements to resell 847,688 (500,618) (183,245)
Securities owned 164,799 (557,522) (129,848)
Notes receivable (12,795) (13,957) (18,047)
Other assets 70,214 (42,105) (70,150)
Increase (decrease) in operating liabilities:      
Drafts payable 4,738 (9,207) 12,958
Payable to brokers and clearing Organizations (131,392) (35,765) (64,168)
Payable to customers 212,482 72,980 (81,445)
Securities sold under agreements to repurchase (1,116,102) 1,118,037 234,831
Securities sold, but not yet purchased 104,035 (90,637) 28,313
Accrued compensation 5,566 (31,614) (19,366)
Accounts payable and other liabilities (4,407) 31,655 50,846
Cash provided by (used in) operating activities (9,452) 81,537 (137,277)
Cash flows from investing activities:      
Purchase of office facilities (14,739) (5,192) (12,157)
Cash used in investing activities (14,739) (5,192) (12,157)
Cash flows from financing activities:      
Cash dividends paid on Class A non-voting and Class B voting common stock (5,986) (6,010) (5,871)
Issuance of Class A non-voting common stock   337 2,312
Repurchase of Class A non-voting common stock for cancellation (1,866)    
Tax shortfall from share-based awards (720) (1,629) (71)
Debt issuance costs   (4,565)  
Issuance of senior secured note   200,000  
Buy back of senior secured note   (5,000)  
Repayment of subordinated note   (100,000)  
Repayments of senior secured credit note   (22,503) (10,000)
Acquisition of non-controlling interest (3,000)    
Increase (decrease) in bank call loans, net 100,800 (119,500) 147,000
Cash provided by (used in) financing activities 89,228 (58,870) 133,370
Net increase (decrease) in cash and cash equivalents 65,037 17,475 (16,064)
Cash and cash equivalents, beginning of year 70,329 52,854 68,918
Cash and cash equivalents, end of year 135,366 70,329 52,854
Schedule of non-cash financing activities:      
Employee share plan issuance 1,321 10,488 1,765
Supplemental disclosure of cash flow Information:      
Cash paid during the year for interest 38,692 30,697 15,938
Cash paid (refunded) during the year for income taxes $ 14,254 $ 7,993 $ (3,350)