Receivable from and Payable to Brokers, Dealers and Clearing Organizations

9 Months Ended

Sep. 30, 2016

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, 2016		December 31, 2015
Receivable:
Clearing organizations and other	$	458,972	$	505,789
Financial instruments purchased under agreement to resell	59,980		65,433
Securities failed to deliver	177,543		109,989
Total receivable	$	696,495	$	681,211
Payable:
Clearing organizations and other	$	559,621	$	240,985
Securities failed to receive	87,468		32,820
Total payable	$	647,089	$	273,805

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.