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Investments (Tables)
 12 Months Ended
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 )