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

3 Months Ended

Mar. 31, 2025

Broker-Dealer [Abstract]

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

As of March 31, 2025 and December 31, 2024, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):

	March 31, 2025		December 31, 2024
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers1:
Contract values of fails to deliver	$	1,106,458	$	213,409
Receivables from clearing organizations	141,932		118,473
Other receivables from broker-dealers and customers	23,893		26,859
Net pending trades	5,849		1,365
Open derivative contracts	1,293		5,384
Total	$	1,279,425	$	365,490
Payables to broker-dealers, clearing organizations, customers and related broker-dealers1:
Contract values of fails to receive	$	1,063,128	$	201,301
Payables to clearing organizations	33,079		5,643
Other payables to broker-dealers and customers	16,957		14,003
Open derivative contracts	657		4,430
Total	$	1,113,821	$	225,377

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