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Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers
 9 Months Ended
Sep. 30, 2021
Brokers and Dealers [Abstract]  
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-DealersReceivables 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 (see Note 12
—“Derivatives”). As of September 30, 2021 and December 31, 2020, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):
September 30, 2021December 31, 2020
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to deliver$1,647,912 $158,976 
Receivables from clearing organizations144,845 126,879 
Other receivables from broker-dealers and customers1
17,793 14,237 
Net pending trades4,174 2,999 
Open derivative contracts4,169 931 
Total$1,818,893 $304,022 
Payables to broker-dealers, clearing organizations, customers and related broker-dealers:
Contract values of fails to receive$1,573,344 $154,050 
Payables to clearing organizations66,976 12,373 
Other payables to broker-dealers and customers15,678 11,838 
Open derivative contracts6,465 1,460 
Total$1,662,463 $179,721 
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1.Excludes $316 thousand of Receivables from broker-dealers, clearing organizations, customers and related broker-dealers classified as Assets held for sale as of September 30, 2021.
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 September 30, 2021 have subsequently settled at the contracted amounts.