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

6 Months Ended

Jun. 30, 2018

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 June 30, 2018 and December 31, 2017, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):


	June 30, 2018		December 31, 2017
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	1,459,054	$	586,486
Receivables from clearing organizations		207,215		133,682
Other receivables from broker-dealers and customers		8,557		10,968
Net pending trades		4,905		1,597
Open derivative contracts		51,557		12,669
Total	$	1,731,288	$	745,402
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	1,416,572	$	567,460
Payables to clearing organizations		34,863		14,023
Other payables to broker-dealers and customers		13,351		18,164
Open derivative contracts		52,148		7,933
Total	$	1,516,934	$	607,580

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 June 30, 2018 have subsequently settled at the contracted amounts.