Receivables from and Payables to broker-dealers, clearing organizations, customers and related broker-dealers

6 Months Ended

Jun. 30, 2013

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):


	June 30, 2013		December 31, 2012
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	1,360,542	$	238,790
Cash and cash equivalents held at clearing organizations		55,103		45,563
Other receivables from broker-dealers and customers		10,352		11,587
Net pending trades		3,876		966
Open derivative contracts		2,089		782

Total	$	1,431,962	$	297,688

Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	1,344,755	$	229,037
Payables to clearing organizations		51,187		1,632
Other payables to broker-dealers and customers		28,409		23,282
Open derivative contracts		400		338

Total	$	1,424,751	$	254,289

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 June 30, 2013 have subsequently settled at the contracted amounts.