Receivable from and Payable to Brokers, Dealers and Clearing Organizations

12 Months Ended

Dec. 31, 2015

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):

	December 31, 2015		December 31, 2014
Receivable:
Clearing organizations and other	$	505,789	$	1,073,480
Financial instruments purchased under agreement to resell	65,433		21,545
Securities failed to deliver	109,989		93,808
Total Receivable	$	681,211	$	1,188,833
Payable:
Clearing organizations and other	$	240,985	$	350,627
Securities failed to receive	32,820		325,462
Total Payable	$	273,805	$	676,089

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.