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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020
--- | --- | ---
ASSETS |  |
Deposits with clearing organizations | $ 27,899 | $ 23,991
Securities owned |  |
Securities owned, at fair value | 561,683 | 610,517
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned | 561,683 | 610,517
Investments | 4,771 | 4,181
Investments | 5,570 | 4,836
Derivative contracts |  |
Derivative contracts, total | 526 |
Total | 594,879 | 638,704
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 84,145 | 126,171
Derivative contracts: |  |
Derivative contracts | 531 | 220
Total | 84,676 | 126,391
Auction Rate Securities Purchase Commitment |  |
Derivative contracts: |  |
Derivative contracts |  | 195
Equity Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 48,744 | 36,554
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 16,232 | 17,892
Money Market Funds [Member] |  |
Securities owned |  |
Securities owned, at fair value | 794 | 200
Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 31,804 | 30,701
U.S. Treasury securities |  |
Securities owned |  |
Securities owned, at fair value | 402,698 | 448,312
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 43,972 | 93,261
US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7,849 | 24,616
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 4 | 9
Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 3,657 | 367
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 623
Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 17,983 | 23,977
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 10,286 | 5,283
Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,609 | 3,103
Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 28,393 | 25,190
Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 17,152 | 17,497
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,647 |
Mortgage Backed Securities, Other |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 4 |
Level 1 |  |
ASSETS |  |
Deposits with clearing organizations | 27,899 | 23,991
Securities owned |  |
Securities owned, at fair value | 452,236 | 485,066
Derivative contracts |  |
Derivative contracts, total | 0 |
Total | 480,135 | 509,057
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 60,204 | 111,153
Derivative contracts: |  |
Derivative contracts | 11 | 22
Total | 60,215 | 111,175
Level 1 | Corporate equities |  |
Securities owned |  |
Securities owned, at fair value | 48,744 | 36,554
Level 1 | Money markets |  |
Securities owned |  |
Securities owned, at fair value | 794 | 200
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 | 402,698 | 448,312
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 43,972 | 93,261
Level 1 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 0 | 0
Level 1 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 0 |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 0 |
Level 1 | Equity Securities [Member] |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 16,232 | 17,892
Level 2 |  |
Securities owned |  |
Securities owned, at fair value | 77,643 | 94,750
Investments | 4,771 | 4,181
Derivative contracts |  |
Derivative contracts, total | 526 |
Total | 82,940 | 98,946
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 23,941 | 15,018
Derivative contracts: |  |
Derivative contracts | 520 | 3
Total | 24,461 | 15,021
Level 2 | Auction Rate Securities Purchase Commitment |  |
Derivative contracts: |  |
Derivative contracts |  | 0
Level 2 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 0 | 0
Level 2 | US Government Agencies Debt Securities [Member] |  |
Securities owned |  |
Securities owned, at fair value | 7,849 | 24,616
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 4 | 9
Level 2 | Sovereign obligations |  |
Securities owned |  |
Securities owned, at fair value | 3,657 | 367
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value |  | 623
Level 2 | Corporate debt and other obligations |  |
Securities owned |  |
Securities owned, at fair value | 17,983 | 23,977
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 10,286 | 5,283
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned |  |
Securities owned, at fair value | 2,609 | 3,103
Level 2 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value | 28,393 | 25,190
Level 2 | Convertible bonds |  |
Securities owned |  |
Securities owned, at fair value | 17,152 | 17,497
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,647 |
Level 2 | Mortgage Backed Securities, Other |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 4 |
Level 3 |  |
Securities owned |  |
Securities owned, at fair value | 31,804 | 30,701
Investments | 0 |
Derivative contracts |  |
Total | 31,804 | 30,701
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 0 |
Derivative contracts: |  |
Derivative contracts | 0 | 195
Total | 0 | 195
Level 3 | Auction Rate Securities Purchase Commitment |  |
Derivative contracts: |  |
Derivative contracts |  | 195
Level 3 | Auction rate securities |  |
Securities owned |  |
Securities owned, at fair value | 31,804 | 30,701
Level 3 | Municipal obligations |  |
Securities owned |  |
Securities owned, at fair value |  | 0
TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 526 | 15
Derivative contracts: |  |
Derivative contracts | 520 | 3
TBAs | Level 2 |  |
Derivative contracts |  |
Derivative contracts, total | 526 | 15
Derivative contracts: |  |
Derivative contracts | 520 | 3
Future [Member] |  |
Derivative contracts: |  |
Derivative contracts | 11 | 22
Future [Member] | Level 1 |  |
Derivative contracts: |  |
Derivative contracts | $ 11 | $ 22

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