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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017
--- | --- | ---
ASSETS |  |
Cash equivalents | $ 10,500 | $ 10,490
Deposits with clearing organizations | 34,599 | 34,293
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 926,597
Securities owned |  |
Securities owned, at fair value | 837,584 | 926,597
Investments | 6,504 |
Derivative contracts |  |
Total | 887,657 | 972,265
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 85,446 | 94,486
Derivative contracts: |  |
Derivative contracts | 6,780 | 1,388
Total | 92,226 | 95,874
Investments |  |
Securities owned |  |
Investments | 101 | 169
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 28,215 | 34,067
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 14,774 |
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7 | 383
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 37,952 | 111,853
Corporate Equities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 25,393
U.S. Treasury securities |  |
ASSETS |  |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 640,337
Securities owned |  |
Securities owned, at fair value | 657,208 |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 53,646 | 53,425
US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7,306 | 9,905
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 13
US Government Agencies Debt Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 3 |
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 214 | 608
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 78 | 1,179
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 20,665 | 12,538
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 7,236 | 4,357
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,486 | 4,037
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 10
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 52,261 | 89,653
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 31,270 | 23,216
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 9,709 | 10,109
Level 1 |  |
ASSETS |  |
Cash equivalents | 10,500 | 10,490
Deposits with clearing organizations | 34,599 | 34,293
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 677,798
Securities owned |  |
Securities owned, at fair value | 686,242 |
Derivative contracts |  |
Total | 731,341 | 722,581
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 68,420 | 78,818
Derivative contracts: |  |
Derivative contracts | 811 | 766
Total | 69,231 | 79,584
Level 1 | Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 28,215 | 34,067
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 14,774 |
Level 1 | Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7 | 383
Level 1 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 0 |
Level 1 | Corporate Equities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 25,393
Level 1 | U.S. Treasury securities |  |
ASSETS |  |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 640,337
Securities owned |  |
Securities owned, at fair value | 657,208 |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 53,646 | 53,425
Level 1 | US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 812 | 3,011
Level 2 |  |
ASSETS |  |
Cash equivalents | 0 |
Deposits with clearing organizations | 0 |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 161,366
Securities owned |  |
Securities owned, at fair value | 129,643 |
Derivative contracts |  |
Total | 134,516 | 162,082
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 17,026 | 15,668
Derivative contracts: |  |
Derivative contracts | 5,969 | 614
Total | 22,995 | 16,282
Level 2 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 16,253 | 24,455
Level 2 | US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 6,494 | 6,894
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 3 | 13
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 214 | 608
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 78 | 1,179
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 20,665 | 12,538
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 7,236 | 4,357
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,486 | 4,037
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 10
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 52,261 | 89,618
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 31,270 | 23,216
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 9,709 | 10,109
Level 3 |  |
ASSETS |  |
Cash equivalents | 0 |
Deposits with clearing organizations | 0 |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned |  | 87,433
Securities owned |  |
Securities owned, at fair value | 21,699 |
Derivative contracts |  |
Total | 21,800 | 87,602
Derivative contracts: |  |
Derivative contracts | 0 | 8
Total | 0 | 8
Level 3 | Investments |  |
Securities owned |  |
Investments | 101 | 169
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 21,699 | 87,398
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 0 | 35
TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 4,873 | 716
Derivative contracts: |  |
Derivative contracts | 4,873 | 614
TBAs | Level 2 |  |
Derivative contracts |  |
Derivative contracts, total | 4,873 | 716
Derivative contracts: |  |
Derivative contracts | 4,873 | 614
ARS purchase commitments |  |
Derivative contracts: |  |
Derivative contracts | 1,096 | 8
ARS purchase commitments | Level 2 |  |
Derivative contracts: |  |
Derivative contracts | 1,096 |
ARS purchase commitments | Level 3 |  |
Derivative contracts: |  |
Derivative contracts | 0 | 8
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 807 | 766
Future [Member] | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | 807 | $ 766
Foreign exchange forward contracts |  |
Derivative contracts: |  |
Derivative contracts | 4 |
Foreign exchange forward contracts | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | $ 4 |

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