CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 581,313	$ 578,768
Cash and cash equivalents segregated under federal and other regulations	3,000	3,361
Financial instruments owned, at fair value, including securities pledged to counterparties that had the right to deliver or repledge of $324,146 at December 31, 2015 and $536,124 at December 31, 2014:
Equities	2,129,208	2,479,910
Listed options	178,360	144,586
Debt securities	136,387	82,815
Other financial instruments	445	60
Total financial instruments owned, at fair value	2,444,400	2,707,371
Collateralized agreements:
Securities borrowed	1,636,284	1,632,062
Receivable from brokers, dealers and clearing organizations	681,211	1,188,833
Fixed assets and leasehold improvements, less accumulated depreciation and amortization	94,858	134,051
Investments	98,943	100,726
Goodwill and Intangible assets, less accumulated amortization	100,471	152,594
Deferred tax asset, net	151,225	154,759
Assets of businesses held for sale	25,999	40,484
Other assets	233,474	137,645
Total assets	6,051,178	6,830,654
Financial instruments sold, not yet purchased, at fair value:
Equities	1,856,171	2,069,342
Listed options	151,893	115,362
Debt securities	105,340	101,003
Total financial instruments sold, not yet purchased, at fair value	2,113,404	2,285,707
Collateralized financings:
Securities loaned	463,377	707,744
Financial instruments sold under agreements to repurchase	954,902	933,576
Total collateralized financings	1,418,279	1,641,320
Payable to brokers, dealers and clearing organizations	273,805	676,089
Payable to customers	17,387	22,110
Accrued compensation expense	154,547	114,559
Accrued expenses and other liabilities	134,026	143,677
Liabilities of businesses held for sale	0	2,356
Debt	495,632	422,259
Total liabilities	$ 4,607,080	$ 5,308,077
Commitments and Contingent Liabilities
Equity
Class A Common Stock, Shares authorized: 1,000,000 at December 31, 2015 and December 31, 2014; Shares issued: 106,025 at December 31, 2015 and 127,508 at December 31, 2014; Shares outstanding: 90,156 at December 31, 2015 and 116,860 at December 31, 2014	$ 1,060	$ 1,275
Additional paid-in capital	1,436,671	1,369,298
Retained earnings	192,120	272,780
Treasury stock, at cost; 15,869 shares at December 31, 2015 and 10,649 shares at December 31, 2014	(186,103)	(122,909)
Accumulated other comprehensive income	350	2,133
Total equity	1,444,098	1,522,577
Total liabilities and equity	$ 6,051,178	$ 6,830,654