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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018
--- | --- | ---
ASSETS |  |
Cash equivalents |  | $ 10,500
Deposits with clearing organizations | $ 36,461 | 34,599
Securities owned |  |
Securities owned, at fair value | 653,194 | 837,584
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 653,194 | 837,584
Investments | 5,912 |
Derivative contracts |  |
Total | 689,667 | 887,657
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 121,880 | 85,446
Derivative contracts: |  |
Derivative contracts | 1,337 | 6,780
Total | 123,217 | 92,226
Investments |  |
Securities owned |  |
Investments |  | 101
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 31,822 | 28,215
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 17,450 | 14,774
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 363 | 7
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 25,314 | 37,952
U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 462,298 | 657,208
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 74,020 | 53,646
US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 8,740 | 7,306
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 7 | 3
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 2,571 | 214
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 2,503 | 78
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 24,448 | 20,665
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 11,683 | 7,236
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,292 | 2,486
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 1 |
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 66,550 | 52,261
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 28,796 | 31,270
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 16,216 | 9,709
Level 1 |  |
ASSETS |  |
Cash equivalents |  | 10,500
Deposits with clearing organizations | 36,461 | 34,599
Securities owned |  |
Securities owned, at fair value | 496,088 | 686,242
Derivative contracts |  |
Total | 532,549 | 731,341
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 91,470 | 68,420
Derivative contracts: |  |
Derivative contracts | 322 | 811
Total | 91,792 | 69,231
Level 1 | Corporate equities |  |
Securities owned |  |
Securities owned, at fair value | 31,822 | 28,215
Level 1 | Equity Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 17,450 | 14,774
Level 1 | Money markets |  |
Securities owned |  |
Securities owned, at fair value | 363 | 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 | 462,298 | 657,208
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 74,020 | 53,646
Level 1 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 1,605 | 812
Level 2 |  |
Securities owned |  |
Securities owned, at fair value | 157,106 | 129,643
Derivative contracts |  |
Total | 157,118 | 134,516
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 30,410 | 17,026
Derivative contracts: |  |
Derivative contracts | 1,015 | 5,969
Total | 31,425 | 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 | 25,314 | 16,253
Level 2 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7,135 | 6,494
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 7 | 3
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 2,571 | 214
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 2,503 | 78
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 24,448 | 20,665
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 11,683 | 7,236
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,292 | 2,486
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 1 |
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 66,550 | 52,261
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 28,796 | 31,270
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 16,216 | 9,709
Level 3 |  |
Securities owned |  |
Securities owned, at fair value | 0 | 21,699
Derivative contracts |  |
Total | 0 | 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 |  | 101
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 0 | 21,699
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value |  | 0
Auction Rate Securities Purchase Commitment |  |
Derivative contracts: |  |
Derivative contracts | 1,006 | 1,096
Auction Rate Securities Purchase Commitment | Level 2 |  |
Derivative contracts: |  |
Derivative contracts | 1,006 | 1,096
Auction Rate Securities Purchase Commitment | Level 3 |  |
Derivative contracts: |  |
Derivative contracts | 0 | 0
TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 12 | 4,873
Derivative contracts: |  |
Derivative contracts | 9 | 4,873
TBAs | Level 2 |  |
Derivative contracts |  |
Derivative contracts, total | 12 | 4,873
Derivative contracts: |  |
Derivative contracts | 9 | 4,873
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 322 | 807
Future [Member] | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | $ 322 | 807
Foreign exchange forward contracts |  |
Derivative contracts: |  |
Derivative contracts |  | 4
Foreign exchange forward contracts | Level 1 |  |
Derivative contracts: |  |
Derivative contracts |  | 4
Foreign exchange forward contracts | Level 2 |  |
Derivative contracts: |  |
Derivative contracts |  | $ 0

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