Receivable from and Payable to Brokers, Dealers and Clearing Organizations

6 Months Ended

Jun. 30, 2013

Brokers and Dealers [Abstract]

Receivable from and Payable to Brokers, Dealers and Clearing Organizations

Receivable from and Payable to Brokers, Dealers and Clearing Organizations

Amounts receivable from and payable to brokers, dealers and clearing organizations consist of the following (in thousands):

	June 30, 2013		December 31, 2012
Receivable:
Clearing organizations and other	$	1,047,166	$	738,625
Securities failed to deliver	319,808		130,180
Total Receivable	$	1,366,974	$	868,805
Payable:
Clearing organizations and other	$	519,581	$	324,175
Securities failed to receive	116,333		54,549
Total Payable	$	635,914	$	378,724

Management believes that the carrying value of amounts receivable from and payable to brokers, dealers and clearing organizations approximates fair value since they are short term in nature.