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Investments (Tables) | 12 Months Ended
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Dec. 31, 2012
Investments [Abstract] |
Investment holdings by type of instrument |
|  | As of December 31, 2012 |  |  | As of December 31, 2011 |
|  | Cost or Amortized Cost |  |  | Fair Value |  |  | Carrying Value |  |  | Cost or Amortized Cost |  |  | Fair Value |  |  | Carrying Value |
Cash and cash equivalents(1) |  | $ | 347,392 |  |  | $ | 347,392 |  |  | $ | 347,392 |  |  | $ | 229,685 |  |  | $ | 229,685 |  |  | $ | 229,685 |
Restricted cash and cash equivalents |  |  | 33,009 |  |  |  | 33,009 |  |  |  | 33,009 |  |  |  | 78,312 |  |  |  | 78,312 |  |  |  | 78,312 |
Trading portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government obligations and agencies |  |  | 3,192 |  |  |  | 4,009 |  |  |  | 4,009 |  |  |  | 3,179 |  |  |  | 3,801 |  |  |  | 3,801 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Metals and mining |  |  | 26,630 |  |  |  | 26,130 |  |  |  | 26,130 |  |  |  | 50,121 |  |  |  | 38,816 |  |  |  | 38,816 |
Energy |  |  | 10,914 |  |  |  | 10,868 |  |  |  | 10,868 |  |  |  | 6,077 |  |  |  | 4,999 |  |  |  | 4,999 |
Other |  |  | 8,152 |  |  |  | 8,215 |  |  |  | 8,215 |  |  |  | 8,044 |  |  |  | 6,945 |  |  |  | 6,945 |
Exchange-traded and mutual funds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Metals and mining |  |  | 21,748 |  |  |  | 21,989 |  |  |  | 21,989 |  |  |  | 28,311 |  |  |  | 25,997 |  |  |  | 25,997 |
Agriculture |  |  | 10,303 |  |  |  | 10,265 |  |  |  | 10,265 |  |  |  | 17,781 |  |  |  | 16,878 |  |  |  | 16,878 |
Energy |  |  | 4,939 |  |  |  | 5,068 |  |  |  | 5,068 |  |  |  | — |  |  |  | — |  |  |  | — |
Indices |  |  | 2,588 |  |  |  | 2,506 |  |  |  | 2,506 |  |  |  | 2,006 |  |  |  | 1,710 |  |  |  | 1,710 |
Non-hedging derivative asset (liability), net(2) |  |  | 69 |  |  |  | (21 | ) |  |  | (21 | ) |  |  | 357 |  |  |  | 123 |  |  |  | 123 |
Other investments(3) |  |  | 517 |  |  |  | 317 |  |  |  | 317 |  |  |  | 517 |  |  |  | 371 |  |  |  | 371 |
Total trading portfolio investments |  |  | 89,052 |  |  |  | 89,346 |  |  |  | 89,346 |  |  |  | 116,393 |  |  |  | 99,640 |  |  |  | 99,640 |
Total investments |  | $ | 469,453 |  |  | $ | 469,747 |  |  | $ | 469,747 |  |  | $ | 424,390 |  |  | $ | 407,637 |  |  | $ | 407,637 |
(1) | Cash and cash equivalents include short-term debt securities consisting of direct obligations of the U.S. Treasury or money-market accounts that invest in direct obligations of the U.S. Treasury.
(2) | Derivatives are included in Other assets and Other liabilities and accrued expenses in the Consolidated Balance Sheets.
(3) | Other investments represent physical metals held by the Company and are included in Other assets in the Consolidated Balance Sheets.
Investment income (expense) comprised primarily of interest and dividends |
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Cash and cash equivalents(1) |  | $ | 705 |  |  | $ | 568 |  |  | $ | 99 |
Debt securities |  |  | 66 |  |  |  | 494 |  |  |  | 969 |
Equity securities |  |  | 566 |  |  |  | 421 |  |  |  | 558 |
Total investment income |  |  | 1,337 |  |  |  | 1,483 |  |  |  | 1,626 |
Less investment expenses |  |  | (896 | ) |  |  | (695 | ) |  |  | (634 | )
Net investment (expense) income |  | $ | 441 |  |  | $ | 788 |  |  | $ | 992 |
(1) | Includes interest earned on restricted cash and cash equivalents.
Effect of trading activities by type of instrument and by line item in the condensed consolidated statements of income |
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Realized gains (losses) on investments: |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  | $ | — |  |  | $ | (3,206 | ) |  | $ | 3,041 |
Equity securities |  |  | (12,286 | ) |  |  | 5,816 |  |  |  | 18,906 |
Derivatives (non-hedging instruments)(1) |  |  | 343 |  |  |  | (260 | ) |  |  | — |
Total realized gains (losses) on trading portfolio |  |  | (11,943 | ) |  |  | 2,350 |  |  |  | 21,947 |
Change in unrealized gains (losses) on investments: |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | 195 |  |  |  | 8,472 |  |  |  | (7,850 | )
Equity securities |  |  | 9,158 |  |  |  | (26,762 | ) |  |  | 10,519 |
Derivatives (non-hedging instruments)(1) |  |  | 145 |  |  |  | 25 |  |  |  | (259 | )
Other |  |  | (55 | ) |  |  | (145 | ) |  |  | — |
Total change in unrealized gains (losses) on trading portfolio |  |  | 9,443 |  |  |  | (18,410 | ) |  |  | 2,410 |
Net gains (losses) recognized on trading securities |  | $ | (2,500 | ) |  | $ | (16,060 | ) |  | $ | 24,357 |
(1) | This table provides the alternative quantitative disclosures permitted for derivatives that are not used as hedging instruments and are included in the trading portfolio.
Summary of securities available for sale |
|  | Year Ended December 31, 2010 |
Sales proceeds (fair value) |  | $ | 195,329 |
Gross realized gains |  | $ | 9,090 |
Gross realized losses |  | $ | (938 | )
Other than temporary losses |  | $ | (2,408 | )

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