Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments

Schedule of fair value of derivative instruments on a gross basis

(in thousands)		December 31, 2016				December 31, 2015
Derivatives Assets	Balance Sheet Classification	Fair Value		Notional		Fair Value		Notional
Equities futures	Receivables from broker dealers and clearing organizations	$	2,403	$	1,461,286	$	(1,017)	$	617,398
Commodity futures	Receivables from broker dealers and clearing organizations		13,964		3,918,778		(8,431)		18,635,531
Currency futures	Receivables from broker dealers and clearing organizations		1,591		3,264,093		1,358		3,059,575
Fixed income futures	Receivables from broker dealers and clearing organizations		31		5,730		30		232,473
Options	Financial instruments owned		141		6,844		168		24,453
Currency forwards	Financial instruments owned		1,147,261		94,192,414		795,435		69,614,513
Interest rate swaps	Financial instruments owned		—		—		311		82,010

Derivatives Liabilities	Balance Sheet Classification	Fair Value		Notional		Fair Value		Notional
Equities futures	Payables to broker dealers and clearing organizations	$	(43)	$	62,417	$	202	$	75,428
Commodity futures	Payables to broker dealers and clearing organizations		2,842		22,616,170		585		25,932
Currency futures	Payables to broker dealers and clearing organizations		(6,282)		1,137,908		(12,475)		2,570,005
Options	Financial instruments sold, not yet purchased		80		4,486		163		25,336
Currency forwards	Financial instruments sold, not yet purchased		1,009,038		85,874,684		746,014		71,019,047
Interest rate swaps	Financial instruments sold, not yet purchased		—		—		319		82,010

Schedule of net gain from derivative instruments not designated as hedging instruments

	December 31,
(in thousands)	2016		2015		2014
Futures	$	559,626	$	1,180,483	$	(78,234)
Currency forwards		1,915		(16,431)		(32,785)
Options		(410)		(1,784)		(987)
Interest rate swaps		(6)		4		(12)
	$	561,125	$	1,162,272	$	(112,018)