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Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012
--- | --- | ---
ASSETS |  |
Cash equivalents | $ 48,476 | $ 58,945
Securities segregated for regulatory and other purposes | 11,500 | 11,499
Deposits with clearing organizations | 9,094 | 9,095
Securities owned |  |
Securities owned, at fair value | 1,082,469 | 759,742
Investments | 5,439 |
TBAs | 3,403 | 3,188
Total | 1,216,436 | 902,988
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 243,065 | 173,450
Investments | 408 | 258
Derivative contracts | 3,387 | 3,057
TBAs | 536 | 175
Total | 247,396 | 176,940
Corporate Equities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 50,740 | 43,708
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 40,663 | 29,884
Other [Member] |  |
Securities owned |  |
Securities owned, at fair value | 68,604 | 65,291
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 241 | 425
U.S. Treasury Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 774,540 | 497,546
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 164,770 | 131,899
U.S. Agency Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 29,233 | 27,690
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 5,025 | 31
Sovereign Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 1,813 | 19
Corporate Debt and Other Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 29,622 | 14,428
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 12,115 | 1,858
Mortgage and Other Asset-Backed Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 3,626 | 2,920
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 4 | 18
Municipal Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 77,421 | 59,010
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 629 | 467
Convertible Bonds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 46,870 | 49,130
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 19,618 | 8,868
Other [Member] |  |
Securities owned |  |
Securities owned, at fair value | 68,604 | 65,291
Investments Included in Other Assets [Member] |  |
Securities owned |  |
Investments | 61,494 | 60,519
Level 1 [Member] |  |
ASSETS |  |
Cash equivalents | 48,476 | 58,945
Securities segregated for regulatory and other purposes | 11,500 | 11,499
Deposits with clearing organizations | 9,094 | 9,095
Securities owned |  |
Securities owned, at fair value | 838,394 | 534,291
Total | 918,100 | 624,307
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 210,673 | 153,170
Investments | 408 | 258
Derivative contracts | 771 | 286
Total | 211,852 | 153,714
Level 1 [Member] | Corporate Equities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 50,740 | 31,958
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 40,663 | 20,946
Level 1 [Member] | Other [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 241 | 325
Level 1 [Member] | U.S. Treasury Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 774,540 | 497,546
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 164,770 | 131,899
Level 1 [Member] | U.S. Agency Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 11,675 |
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 4,999 |
Level 1 [Member] | Corporate Debt and Other Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value |  | 2,459
Level 1 [Member] | Other [Member] |  |
Securities owned |  |
Securities owned, at fair value | 1,439 | 2,328
Level 1 [Member] | Investments Included in Other Assets [Member] |  |
Securities owned |  |
Investments | 10,636 | 10,477
Level 2 [Member] |  |
Securities owned |  |
Securities owned, at fair value | 163,408 | 153,054
TBAs | 3,403 | 3,188
Total | 211,543 | 193,330
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 32,392 | 20,180
Derivative contracts | 204 | 124
TBAs | 536 | 175
Total | 33,132 | 20,479
Level 2 [Member] | Corporate Equities [Member] |  |
Securities owned |  |
Securities owned, at fair value |  | 11,750
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value |  | 8,938
Level 2 [Member] | U.S. Agency Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 17,558 | 27,690
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 26 | 31
Level 2 [Member] | Sovereign Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 1,813 | 19
Level 2 [Member] | Corporate Debt and Other Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 29,622 | 11,969
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 12,115 | 1,858
Level 2 [Member] | Mortgage and Other Asset-Backed Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 3,626 | 2,880
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 4 | 18
Level 2 [Member] | Municipal Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 63,919 | 49,616
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 629 | 467
Level 2 [Member] | Convertible Bonds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 46,870 | 49,130
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value | 19,618 | 8,868
Level 2 [Member] | Investments Included in Other Assets [Member] |  |
Securities owned |  |
Investments | 44,732 | 37,088
Level 3 [Member] |  |
Securities owned |  |
Securities owned, at fair value | 80,667 | 72,397
Total | 86,793 | 85,351
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value |  | 100
Derivative contracts | 2,412 | 2,647
Total | 2,412 | 2,747
Level 3 [Member] | Other [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold, but not yet purchased at fair value |  | 100
Level 3 [Member] | Mortgage and Other Asset-Backed Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value |  | 40
Level 3 [Member] | Municipal Obligations [Member] |  |
Securities owned |  |
Securities owned, at fair value | 13,502 | 9,394
Level 3 [Member] | Other [Member] |  |
Securities owned |  |
Securities owned, at fair value | 67,165 | 62,963
Level 3 [Member] | Investments Included in Other Assets [Member] |  |
Securities owned |  |
Investments | $ 6,126 | $ 12,954

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