Receivable from and Payable to Brokers and Dealers and Clearing Organizations

9 Months Ended

Sep. 30, 2019

Receivable from and Payable to Brokers and Dealers and Clearing Organizations

Receivable from and Payable to Brokers and Dealers and Clearing Organizations

4.          Receivable from and Payable to Brokers and Dealers and Clearing Organizations

Receivables from and payables to brokers and dealers and clearing organizations consist of proceeds from transactions which failed to settle due to the inability of a transaction party to deliver or receive the transacted security. These securities transactions are generally collateralized by those securities.

On October 1, 2019, approximately $698.8 million and $664.3 million, respectively, of the receivable from and payable to balances outstanding at September 30, 2019 were settled.