Derivatives (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative contracts

The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):

	As of December 31, 2020						As of December 31, 2019
Derivative contract	Assets		Liabilities		Notional Amounts(1)		Assets		Liabilities		Notional Amounts(1)
Rate lock commitments	$	21,034	$	2,977	$	296,972	$	32,035	$	12,124	$	1,396,827
Nasdaq Forwards	12,822		—		174,000		26,502		—		267,480
Forward sale contracts	7,632		14,971		1,359,482		14,389		13,537		1,606,943
Total	$	41,488	$	17,948	$	1,830,454	$	72,926	$	25,661	$	3,271,250

(1)Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do not represent anticipated losses.

Summary of gain (loss) on change in fair value of derivatives included in condensed consolidated statements of operations

Gains and losses on derivative contracts, which are included on the consolidated statements of operations were as follows (in thousands):

	Location of gain (loss) recognized in income for derivatives	Year Ended December 31,
		2020		2019		2018
Derivatives not designed as hedging instruments:
Nasdaq Forwards	Other income (loss), net	$	(13,680)	$	(51,117)	$	19,002
Rate lock commitments	Gains from mortgage banking activities/originations, net	20,125		21,916		935
Rate lock commitments	Compensation and employee benefits	(2,068)		(2,004)		(1,673)
Forward sale contracts	Gains (loss) from mortgage banking activities/originations, net	(7,339)		851		(1,031)
Total		$	(2,962)	$	(30,354)	$	17,233