Receivables From And Payables To Broker-Dealers, Clearing Organizations, Customers And Related Broker-Dealers

12 Months Ended

Dec. 31, 2011

Receivables From And Payables To Broker-Dealers, Clearing Organizations, Customers And Related Broker-Dealers [Abstract]

Receivables From And Payables To Broker-Dealers, Clearing Organizations, Customers And Related Broker-Dealers

8. Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers

Receivables from and Payables to broker-dealers, clearing organizations, customers and related broker-dealers primarily represent amounts due for undelivered securities, cash held at clearing organizations and exchanges to facilitate settlement and clearance of matched principal transactions, spreads on matched principal transactions that have not yet been remitted from/to clearing organizations and exchanges and amounts related to open derivative contracts. The Receivables from and Payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):

	December 31, 2011		December 31, 2010
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	130,675	$	415,520
Receivables from clearing organizations		48,681		48,345
Other receivables from broker-dealers and customers		8,060		6,948
Net pending trades		3,452		1,883
Open derivative contracts		1,185		1,573
Total	$	192,053	$	474,269
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	124,282	$	423,829
Payables to clearing organizations		5,077		1,255
Other payables to broker-dealers and customers		14,990		3,449
Open derivative contracts		334		944
Total	$	144,683	$	429,477

A portion of these receivables and payables are with Cantor. See Note 11—"Related Party Transactions," for additional information related to these receivables and payables.

Substantially all open fails to deliver, open fails to receive and pending trade transactions as of December 31, 2011 have subsequently settled at the contracted amounts.