Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments

Schedule of fair value of derivative instruments on a gross basis

(in thousands)		December 31, 2017				December 31, 2016
Derivatives Assets	Financial Statements Location	Fair Value		Notional		Fair Value		Notional
Derivative instruments not designated as hedging instruments:
Equities futures	Receivables from broker dealers and clearing organizations	$	(505)	$	1,985,770	$	2,403	$	1,461,286
Commodity futures	Receivables from broker dealers and clearing organizations		971		21,231,001		13,964		3,918,778
Currency futures	Receivables from broker dealers and clearing organizations		26,548		3,994,412		1,591		3,264,093
Fixed income futures	Receivables from broker dealers and clearing organizations		73		44,395		31		5,730
Options	Financial instruments owned		7,045		682,369		141		6,844
Currency forwards	Financial instruments owned		2,045,487		124,000,221		1,147,261		94,192,414

Derivatives Liabilities	Financial Statements Location	Fair Value		Notional		Fair Value		Notional
Derivative instruments not designated as hedging instruments:
Equities futures	Payables to broker dealers and clearing organizations	$	(575)	$	142,658	$	(43)	$	62,417
Commodity futures	Payables to broker dealers and clearing organizations		(1,602)		130,042		2,842		22,616,170
Currency futures	Payables to broker dealers and clearing organizations		(13,947)		7,756,958		(6,282)		1,137,908
Fixed income futures	Payables to broker dealers and clearing organizations		(1)		2,584		—		—
Options	Financial instruments sold, not yet purchased		5,839		681,147		80		4,486
Currency forwards	Financial instruments sold, not yet purchased		2,032,017		123,993,234		1,009,038		85,874,684
Derivative instruments designated as hedging instruments:
Currency forwards	Financial instruments sold, not yet purchased		(514)		16,115		—		—

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

		December 31,
(in thousands)	Financial Statements Location	2017		2016		2015
Derivative instruments not designated as hedging instruments:
Futures	Trading income, net	$	290,609	$	559,626	$	1,180,483
Currency forwards	Trading income, net		2,603		1,915		(16,431)
Options	Trading income, net		(7,166)		(410)		(1,784)
Others	Trading income, net		—		(6)		4
		$	286,046	$	561,125	$	1,162,272
Derivative instruments designated as hedging instruments:
Foreign exchange - forward contract	Accumulated other comprehensive income	$	(642)	$	—	$	—