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

9 Months Ended

Sep. 30, 2023

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 (see Note 11—“Derivatives”). As of September 30, 2023 and December 31, 2022, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):


	September 30, 2023		December 31, 2022
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers1:
Contract values of fails to deliver	$	999,169	$	404,076
Receivables from clearing organizations	130,411		132,149
Other receivables from broker-dealers and customers	33,903		19,693
Net pending trades	7,427		—
Open derivative contracts	4,343		3,762
Total	$	1,175,253	$	559,680
Payables to broker-dealers, clearing organizations, customers and related broker-dealers1:
Contract values of fails to receive	$	889,926	$	362,682
Payables to clearing organizations	93,400		16,855
Other payables to broker-dealers and customers	14,651		15,871
Net pending trades	—		1,634
Open derivative contracts	4,935		7,633
Total	$	1,002,912	$	404,675

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1Includes receivables and payables with Cantor. See Note 13—“Related Party Transactions” for additional information.

Substantially all open fails to deliver, open fails to receive and pending trade transactions as of September 30, 2023 have subsequently settled at the contracted amounts.