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

12 Months Ended

Dec. 31, 2019

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 December 31, 2019 and December 31, 2018, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):

	December 31, 2019		December 31, 2018
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver	$	400,713	$	660,995
Receivables from clearing organizations		134,163		269,549
Other receivables from broker-dealers and customers		12,769		7,561
Net pending trades		1,932		1,782
Open derivative contracts		1,868		1,979
Total	$	551,445	$	941,866
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive	$	389,458	$	636,705
Payables to clearing organizations		11,005		30,043
Other payables to broker-dealers and customers		11,950		11,956
Open derivative contracts		4,153		91,129
Total	$	416,566	$	769,833

A portion of these receivables and payables are with Cantor. See Note 14—“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, 2019 have subsequently settled at the contracted amounts.