Receivable from and Payable to Brokers, Dealers and Clearing Organizations

12 Months Ended

Dec. 31, 2014

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):



	December 31, 2014		December 31, 2013
Receivable:
Clearing organizations and other	$	1,095,025	$	750,440
Assets segregated or held in separate accounts under federal or other regulations ⁽¹⁾	—		304,294
Securities failed to deliver	93,808		202,517
Total Receivable	$	1,188,833	$	1,257,251
Payable:
Clearing organizations and other	$	350,627	$	425,196
Securities failed to receive	325,462		48,912
Total Payable	$	676,089	$	474,108

⁽¹⁾ Segregated assets primarily related to the FCM Business, which was sold in the fourth quarter of 2014, included within Receivable from brokers, dealers and clearing organizations comprise cash and cash equivalents and U.S. government obligations primarily held as deposits with exchange clearing organizations.

Segregated assets at December 31, 2013 primarily comprise assets related to the Company's FCM business that was sold during the fourth quarter of 2014.

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.