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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017
--- | --- | ---
ASSETS |  |
Cash equivalents | $ 10,490 | $ 10,490
Deposits with clearing organizations | 41,387 | 34,293
Securities owned |  |
Securities owned, at fair value | 999,627 | 926,597
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 999,627 | 926,597
Investments | 7,536 |
Derivative contracts |  |
Total | 1,055,424 | 972,265
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 147,886 | 94,486
Derivative contracts: |  |
Derivative contracts | 5,068 | 1,388
Total | 152,954 | 95,874
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 1,218 | 766
TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 3,752 | 716
Derivative contracts: |  |
Derivative contracts | 3,667 | 614
ARS purchase commitments |  |
Derivative contracts: |  |
Derivative contracts | 183 | 8
Investments |  |
Securities owned |  |
Investments | 168 | 169
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 31,974 | 34,067
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 24,433 | 25,393
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 573 | 383
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 87,350 | 111,853
U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 708,250 | 640,337
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 108,819 | 53,425
US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 24,296 | 9,905
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5 | 13
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 557 | 608
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 1,336 | 1,179
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 21,659 | 12,538
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5,048 | 4,357
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 1,980 | 4,037
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 8 | 10
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 91,523 | 89,653
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 31,465 | 23,216
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 8,237 | 10,109
Level 1 |  |
ASSETS |  |
Cash equivalents | 10,490 | 10,490
Deposits with clearing organizations | 41,387 | 34,293
Securities owned |  |
Securities owned, at fair value | 754,353 | 677,798
Derivative contracts |  |
Total | 806,230 | 722,581
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 108,819 | 78,818
Derivative contracts: |  |
Derivative contracts | 1,218 | 766
Total | 110,037 | 79,584
Level 1 | Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 1,218 | 766
Level 1 | Corporate equities |  |
Securities owned |  |
Securities owned, at fair value | 31,974 | 34,067
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 25,393
Level 1 | Money markets |  |
Securities owned |  |
Securities owned, at fair value | 573 | 383
Level 1 | U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 708,250 | 640,337
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 108,819 | 53,425
Level 1 | U.S. Agency securities |  |
Securities owned |  |
Securities owned, at fair value | 13,556 | 3,011
Level 2 |  |
Securities owned |  |
Securities owned, at fair value | 157,924 | 161,366
Derivative contracts |  |
Total | 161,676 | 162,082
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 39,067 | 15,668
Derivative contracts: |  |
Derivative contracts | 3,667 | 614
Total | 42,734 | 16,282
Level 2 | TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 3,752 | 716
Derivative contracts: |  |
Derivative contracts | 3,667 | 614
Level 2 | Corporate equities |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 24,433 |
Level 2 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value |  | 24,455
Level 2 | U.S. Agency securities |  |
Securities owned |  |
Securities owned, at fair value | 10,740 | 6,894
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5 | 13
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 557 | 608
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 1,336 | 1,179
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 21,659 | 12,538
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5,048 | 4,357
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 1,980 | 4,037
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 8 | 10
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 91,523 | 89,618
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 31,465 | 23,216
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 8,237 | 10,109
Level 3 |  |
Securities owned |  |
Securities owned, at fair value | 87,350 | 87,433
Derivative contracts |  |
Total | 87,518 | 87,602
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 0 |
Derivative contracts: |  |
Derivative contracts | 183 | 8
Total | 183 | 8
Level 3 | ARS purchase commitments |  |
Derivative contracts: |  |
Derivative contracts | 183 | 8
Level 3 | Investments |  |
Securities owned |  |
Investments | 168 | 169
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 87,350 | 87,398
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | $ 0 | $ 35

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