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

9 Months Ended

Sep. 30, 2017

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

11.	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, including derivative contracts into which the Company may enter to minimize the effect of price changes of the Company’s marketable securities (see Note 12—“Derivatives”). As of September 30, 2017 and December 31, 2016, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):

	September 30, 2017		December 31, 2016
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	2,136,066	$	344,962
Receivables from clearing organizations		147,058		135,175
Other receivables from broker-dealers and customers		3,562		13,993
Net pending trades		7,859		—
Open derivative contracts		15,568		23,351
Total	$	2,310,113	$	517,481
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	2,005,492	$	301,873
Payables to clearing organizations		96,800		22,170
Other payables to broker-dealers and customers		13,847		19,581
Net pending trades		—		29,962
Open derivative contracts		3,952		11,236
Total	$	2,120,091	$	384,822

A portion of these receivables and payables are with Cantor. See Note 17—“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 September 30, 2017 have subsequently settled at the contracted amounts.