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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018
--- | --- | ---
ASSETS |  |
Cash equivalents | $ 10,500 | $ 10,500
Deposits with clearing organizations | 30,340 | 34,599
Securities owned |  |
Securities owned, at fair value | 911,468 | 837,584
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 911,468 | 837,584
Investments | 6,412 |
Derivative contracts |  |
Total | 952,412 | 887,657
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 137,286 | 85,446
Derivative contracts: |  |
Derivative contracts | 2,122 | 6,780
Total | 139,408 | 92,226
Investments |  |
Securities owned |  |
Investments | 104 | 101
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 27,795 | 28,215
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,974 | 14,774
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 3,150 | 7
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 37,953 | 37,952
U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 747,130 | 657,208
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 108,527 | 53,646
US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 11,210 | 7,306
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 3 | 3
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 305 | 214
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 240 | 78
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 7,921 | 20,665
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5,324 | 7,236
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 8,905 | 2,486
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 45,193 | 52,261
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 21,906 | 31,270
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 9,218 | 9,709
Level 1 |  |
ASSETS |  |
Cash equivalents | 10,500 | 10,500
Deposits with clearing organizations | 30,340 | 34,599
Securities owned |  |
Securities owned, at fair value | 779,062 | 686,242
Derivative contracts |  |
Total | 819,902 | 731,341
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 122,501 | 68,420
Derivative contracts: |  |
Derivative contracts | 961 | 811
Total | 123,462 | 69,231
Level 1 | Corporate equities |  |
Securities owned |  |
Securities owned, at fair value | 27,795 | 28,215
Level 1 | Equity Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,974 | 14,774
Level 1 | Money markets |  |
Securities owned |  |
Securities owned, at fair value | 3,150 | 7
Level 1 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 0 |
Level 1 | U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 747,130 | 657,208
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 108,527 | 53,646
Level 1 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 987 | 812
Level 2 |  |
Securities owned |  |
Securities owned, at fair value | 110,706 | 129,643
Derivative contracts |  |
Total | 110,706 | 134,516
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 14,785 | 17,026
Derivative contracts: |  |
Derivative contracts | 1,161 | 5,969
Total | 15,946 | 22,995
Level 2 | Equity Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 0 |
Level 2 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 16,253 | 16,253
Level 2 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 10,223 | 6,494
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 3 | 3
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 305 | 214
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 240 | 78
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 7,921 | 20,665
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 5,324 | 7,236
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 8,905 | 2,486
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 45,193 | 52,261
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 21,906 | 31,270
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 9,218 | 9,709
Level 3 |  |
Securities owned |  |
Securities owned, at fair value | 21,700 | 21,699
Derivative contracts |  |
Total | 21,804 | 21,800
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 0 |
Derivative contracts: |  |
Derivative contracts | 0 | 0
Total | 0 | 0
Level 3 | Investments |  |
Securities owned |  |
Investments | 104 | 101
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 21,700 | 21,699
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value |  | 0
Auction Rate Securities Purchase Commitment |  |
Derivative contracts: |  |
Derivative contracts | 1,114 | 1,096
Auction Rate Securities Purchase Commitment | Level 2 |  |
Derivative contracts: |  |
Derivative contracts | 1,114 | 1,096
Auction Rate Securities Purchase Commitment | Level 3 |  |
Derivative contracts: |  |
Derivative contracts | 0 | 0
TBAs |  |
Derivative contracts |  |
Derivative contracts, total |  | 4,873
Derivative contracts: |  |
Derivative contracts | 47 | 4,873
TBAs | Level 2 |  |
Derivative contracts |  |
Derivative contracts, total |  | 4,873
Derivative contracts: |  |
Derivative contracts | 47 | 4,873
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 959 | 807
Future [Member] | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | 959 | 807
Foreign exchange forward contracts |  |
Derivative contracts: |  |
Derivative contracts | 2 | 4
Foreign exchange forward contracts | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | $ 2 | 4
Foreign exchange forward contracts | Level 2 |  |
Derivative contracts: |  |
Derivative contracts |  | $ 0

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