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v3.20.4

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2019 | Dec. 31, 2020
ASSETS |  |
Deposits with clearing organizations | $ 25,118 | $ 23,991
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 799,719 |
Securities owned |  |
Securities owned, at fair value | 799,719 | 610,517
Investments | 5,816 | 4,836
Derivative contracts |  |
Total | 824,837 | 638,704
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 100,571 | 126,171
Investments |  | 0
Derivative contracts: |  |
Derivative contracts | 1,414 | 220
Total | 101,985 | 126,391
Investments |  |
Derivative contracts: |  |
Transfers In (Out) | (106) |
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 32,215 | 36,554
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 17,892
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 781 | 200
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 25,314 | 30,701
Corporate equities |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 21,978 |
U.S. Treasury securities |  |
ASSETS |  |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 613,030 |
Securities owned |  |
Securities owned, at fair value |  | 448,312
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 52,882 | 93,261
US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 35,891 | 24,616
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 18 |
US Government Agencies Debt Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 9
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 11,405 | 367
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 6,405 | 623
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 8,310 | 23,977
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 664 | 5,283
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,697 | 3,103
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 40,260 | 25,190
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 29,816 | 17,497
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 18,624 | 9,103
Other Investments |  |
Securities owned |  |
Securities owned, at fair value |  | 4,181
Level 1 |  |
ASSETS |  |
Deposits with clearing organizations | 25,118 | 23,991
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 665,943 |
Securities owned |  |
Securities owned, at fair value |  | 485,066
Derivative contracts |  |
Total | 691,061 | 509,057
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 74,860 | 111,153
Investments |  | 0
Derivative contracts: |  |
Derivative contracts | 267 | 22
Total | 75,127 | 111,175
Level 1 | Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 32,215 | 36,554
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 17,892
Level 1 | Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 781 | 200
Level 1 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value |  | 0
Level 1 | Corporate equities |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 21,978 |
Level 1 | U.S. Treasury securities |  |
ASSETS |  |
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 613,030 |
Securities owned |  |
Securities owned, at fair value |  | 448,312
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 52,882 | 93,261
Level 1 | US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 19,917 | 0
Level 2 |  |
ASSETS |  |
Deposits with clearing organizations |  | 0
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 133,776 |
Securities owned |  |
Securities owned, at fair value |  | 94,750
Derivative contracts |  |
Total | 133,776 | 98,946
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 25,711 | 15,018
Derivative contracts: |  |
Derivative contracts | 1,147 | 3
Total | 26,858 | 15,021
Level 2 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 25,314 | 0
Level 2 | US Government Corporations and Agencies Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 15,974 | 24,616
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 18 | 9
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 11,405 | 367
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 6,405 | 623
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 8,310 | 23,977
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 664 | 5,283
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,697 | 3,103
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 40,260 | 25,190
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 29,816 | 17,497
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 18,624 | 9,103
Level 2 | Other Investments |  |
Securities owned |  |
Securities owned, at fair value |  | 4,181
Level 3 |  |
ASSETS |  |
Deposits with clearing organizations |  | 0
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 0 |
Securities owned |  |
Securities owned, at fair value |  | 30,701
Derivative contracts |  |
Total | 0 | 30,701
Derivative contracts: |  |
Derivative contracts | 0 | 195
Total | 0 | 195
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 0 | 30,701
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 0 | 0
TBAs |  |
Derivative contracts |  |
Derivative contracts, total |  | 15
Derivative contracts: |  |
Derivative contracts | 124 | 3
TBAs | Level 2 |  |
Derivative contracts |  |
Derivative contracts, total |  | 15
Derivative contracts: |  |
Derivative contracts | 124 | 3
ARS purchase commitments |  |
Derivative contracts: |  |
Derivative contracts | 1,023 | 195
ARS purchase commitments | Level 2 |  |
Derivative contracts: |  |
Derivative contracts | 1,023 | 0
ARS purchase commitments | Level 3 |  |
Derivative contracts: |  |
Derivative contracts | 0 | 195
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 267 | 22
Future [Member] | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | $ 267 | $ 22

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