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v3.23.1

Fair value measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022
--- | --- | ---
ASSETS |  |
Deposits with clearing organizations | $ 25,211 | $ 24,937
Securities owned: |  |
Securities owned, at fair value | 762,154 | 498,594
Securities owned and sold, fair value | 762,154 | 498,594
Investments | 15,036 | 7,068
Derivative contracts |  |
Derivative contracts, total | 21 |
Total | 802,422 | 532,361
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 110,657 | 52,768
Derivative contracts: |  |
Derivative contracts | 70 | 1,805
Total | 110,727 | 54,573
Corporate equities |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 14,328 | 11,378
Money markets |  |
Securities owned: |  |
Securities owned, at fair value | 1,519 | 0
Auction rate securities |  |
Securities owned: |  |
Securities owned, at fair value | 31,776 | 31,776
TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 21 | 1,762
Derivative contracts: |  |
Derivative contracts | 19 | 1,761
Futures |  |
Derivative contracts: |  |
Derivative contracts | 51 | 44
U.S. Treasury securities |  |
Securities owned: |  |
Securities owned, at fair value | 618,227 | 362,815
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 82,387 | 25,006
U.S. Agency securities |  |
Securities owned: |  |
Securities owned, at fair value | 7,994 | 6,012
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 2 | 3
Corporate debt and other obligations |  |
Securities owned: |  |
Securities owned, at fair value | 4,591 | 9,844
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 208 | 2,905
Mortgage and other asset-backed securities |  |
Securities owned: |  |
Securities owned, at fair value | 2,741 | 1,882
Municipal obligations |  |
Securities owned: |  |
Securities owned, at fair value | 38,183 | 30,126
Convertible bonds |  |
Securities owned: |  |
Securities owned, at fair value | 29,812 | 21,800
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,732 | 4,428
Corporate equities | Corporate equities |  |
Securities owned: |  |
Securities owned, at fair value | 27,311 | 24,837
Sovereign obligations |  |
Securities owned: |  |
Securities owned, at fair value |  | 9,502
Level 1 |  |
ASSETS |  |
Deposits with clearing organizations | 25,211 | 24,937
Securities owned: |  |
Securities owned, at fair value | 645,538 | 387,652
Investments | 5,242 |
Derivative contracts |  |
Derivative contracts, total | 0 |
Total | 675,991 | 412,589
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 96,715 | 36,384
Derivative contracts: |  |
Derivative contracts | 51 | 44
Total | 96,766 | 36,428
Level 1 | Money markets |  |
Securities owned: |  |
Securities owned, at fair value | 0 | 0
Level 1 | Futures |  |
Derivative contracts: |  |
Derivative contracts | 51 | 44
Level 1 | U.S. Treasury securities |  |
Securities owned: |  |
Securities owned, at fair value | 618,227 | 362,815
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 82,387 | 25,006
Level 1 | Corporate equities |  |
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 14,328 | 11,378
Level 1 | Corporate equities | Corporate equities |  |
Securities owned: |  |
Securities owned, at fair value | 27,311 | 24,837
Level 2 |  |
Securities owned: |  |
Securities owned, at fair value | 84,840 | 79,166
Investments | 9,794 | 7,068
Derivative contracts |  |
Derivative contracts, total | 21 |
Total | 94,655 | 87,996
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,942 | 16,384
Derivative contracts: |  |
Derivative contracts | 19 | 1,761
Total | 13,961 | 18,145
Level 2 | Money markets |  |
Securities owned: |  |
Securities owned, at fair value | 1,519 |
Level 2 | TBAs |  |
Derivative contracts |  |
Derivative contracts, total | 21 | 1,762
Derivative contracts: |  |
Derivative contracts | 19 | 1,761
Level 2 | U.S. Agency securities |  |
Securities owned: |  |
Securities owned, at fair value | 7,994 | 6,012
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 2 | 3
Level 2 | Corporate debt and other obligations |  |
Securities owned: |  |
Securities owned, at fair value | 4,591 | 9,844
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 208 | 2,905
Level 2 | Mortgage and other asset-backed securities |  |
Securities owned: |  |
Securities owned, at fair value | 2,741 | 1,882
Level 2 | Municipal obligations |  |
Securities owned: |  |
Securities owned, at fair value | 38,183 | 30,126
Level 2 | Convertible bonds |  |
Securities owned: |  |
Securities owned, at fair value | 29,812 | 21,800
Securities sold, but not yet purchased |  |
Securities sold but not yet purchased, at fair value | 13,732 | 4,428
Level 2 | Sovereign obligations |  |
Securities owned: |  |
Securities owned, at fair value |  | 9,502
Level 3 |  |
Securities owned: |  |
Securities owned, at fair value | 31,776 | 31,776
Derivative contracts |  |
Derivative contracts, total | 0 |
Total | 31,776 | 31,776
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 | Auction rate securities |  |
Securities owned: |  |
Securities owned, at fair value | $ 31,776 | $ 31,776

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