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Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers
 12 Months Ended
Dec. 31, 2023
Broker-Dealer [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-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 December 31, 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):
December 31, 2023December 31, 2022
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers1
Contract values of fails to deliver$182,094 $404,076 
Receivables from clearing organizations135,789 132,149 
Other receivables from broker-dealers and customers28,546 19,693 
Open derivative contracts3,607 3,762 
Total$350,036 $559,680 
Payables to broker-dealers, clearing organizations, customers and related broker-dealers1
Contract values of fails to receive$172,231 $362,682 
Payables to clearing organizations10,846 16,855 
Other payables to broker-dealers and customers13,357 15,871 
Net pending trades76 1,634 
Open derivative contracts5,756 7,633 
Total$202,266 $404,675 
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1.Includes receivables and payables with Cantor. See Note 13—“Related Party Transactions” for additional information.
Excluding unsettled trades impacted by Russia’s Invasion of Ukraine, substantially all open fails to deliver, open fails to receive and pending trade transactions as of December 31, 2023 have subsequently settled at the contracted amounts. See Note 19—“Commitments, Contingencies and Guarantees” for additional information related to the potential loss associated with Russia’s Invasion of Ukraine.