Receivable from and Payable to Brokers, Dealers and Clearing Organizations

9 Months Ended

Sep. 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):

	September 30, 2013		December 31, 2012
Receivable:
Clearing organizations and other	$	1,096,308	$	140,089
Securities failed to deliver	233,805		2,880
Total Receivable	$	1,330,113	$	142,969
Payable:
Clearing organizations and other	$	564,592	$	15,879
Securities failed to receive	101,586		8,306
Total Payable	$	666,178	$	24,185

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.