CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Trading revenues, net	$ 154,307	$ 223,938
Commissions and fees	93,589	106,101
Interest, net	821	117
Investment income and other, net	6,656	15,268
Total revenues	255,373	345,424
Expenses
Employee compensation and benefits	66,003	97,586
Execution and clearance fees	72,795	73,634
Communications and data processing	39,020	35,657
Depreciation and amortization	19,038	21,905
Payments for order flow	17,121	12,655
Collateralized financing interest	11,761	9,163
Debt interest expense	9,330	9,492
Occupancy and equipment rentals	6,760	8,990
Professional fees	4,544	6,057
Business development	1,208	1,119
Other	8,197	9,201
Total expenses	255,777	285,459
(Loss) income before income taxes	(404)	59,965
Income tax (benefit) expense	(3,616)	22,800
Net income	$ 3,212	$ 37,165
Basic earnings per share (in dollars per share)	$ 0.05	$ 0.42
Diluted earnings per share (in dollars per share)	$ 0.05	$ 0.41
Shares used in computation of basic earnings per share	66,306	88,458
Shares used in computation of diluted earnings per share	67,642	89,605