Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments

Schedule of fair value of derivative instruments on a gross basis

(in thousands)		June 30, 2017				December 31, 2016
Derivatives Assets	Balance Sheet Classification	Fair Value		Notional		Fair Value		Notional
Equities futures	Receivables from broker dealers and clearing organizations	$	1,269	$	741,005	$	2,403	$	1,461,286
Commodity futures	Receivables from broker dealers and clearing organizations		(25,096)		16,391,955		13,964		3,918,778
Currency futures	Receivables from broker dealers and clearing organizations		(979)		6,247,397		1,591		3,264,093
Fixed income futures	Receivables from broker dealers and clearing organizations		(98)		4,024		31		5,730
Options	Financial instruments owned		101		9,879		141		6,844
Currency forwards	Financial instruments owned		2,513,850		139,565,292		1,147,261		94,192,414

Derivatives Liabilities	Balance Sheet Classification	Fair Value		Notional		Fair Value		Notional
Equities futures	Payables to broker dealers and clearing organizations	$	(21)	$	70,599	$	(43)	$	62,417
Commodity futures	Payables to broker dealers and clearing organizations		(416)		30,239		2,842		22,616,170
Currency futures	Payables to broker dealers and clearing organizations		512		1,935,204		(6,282)		1,137,908
Options	Financial instruments sold, not yet purchased		132		11,418		80		4,486
Currency forwards	Financial instruments sold, not yet purchased		2,508,096		139,562,415		1,009,038		85,874,684

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

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Futures	$	49,188	$	112,115	$	214,777	$	420,595
Currency forwards		45,565		16,145		(5,816)		15,720
Options		(2)		(272)		(1)		(346)
Interest rate swaps		—		2		—		4
	$	94,751	$	127,990	$	208,960	$	435,973