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Collateralized Transactions (Tables)
 9 Months Ended
Sep. 30, 2016
Brokers and Dealers [Abstract]  
Schedule of Securities Financing Transactions
The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of September 30, 2016:
(Expressed in thousands)
 
 
Overnight and Open
Repurchase agreements:
 
U.S. Treasury and Agency securities
$
734,572

Securities loaned:
 
Equity securities
133,205

Gross amount of recognized liabilities for repurchase agreements and securities loaned
$
867,777
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions
The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of September 30, 2016 and December 31, 2015:
As of September 30, 2016
(Expressed in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset on
the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset on the
Balance Sheet
 
Net Amounts
of Assets
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
Reverse repurchase agreements
$
206,459

 
$
(206,459
)
 
$
—

 
$
—

 
$
—

 
$
—

Securities borrowed (1)
155,725

 
—

 
155,725

 
(150,362
)
 
—

 
5,363

Total
$
362,184

 
$
(206,459
)
 
$
155,725

 
$
(150,362
)
 
$
—

 
$
5,363

(1)
Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
 
 
 
 
 
 
 
Gross Amounts Not Offset on
the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Balance Sheet
 
Net Amounts
of Liabilities
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
Net Amount
Repurchase agreements
$
734,572

 
$
(206,459
)
 
$
528,113

 
$
(522,446
)
 
$
—

 
$
5,667

Securities loaned (2)
133,205

 
—

 
133,205

 
(130,701
)
 
—

 
2,504

Total
$
867,777

 
$
(206,459
)
 
$
661,318

 
$
(653,147
)
 
$
—

 
$
8,171

 
(2)
Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
As of December 31, 2015
(Expressed in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset on
the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset in the
Balance Sheet
 
Net Amounts
of Assets
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Received
 
Net Amount
Reverse repurchase agreements
$
282,042

 
$
(75,543
)
 
$
206,499

 
$
(203,266
)
 
$
—

 
$
3,233

Securities borrowed (1)
224,672

 
—

 
224,672

 
(219,099
)
 
—

 
5,573

Total
$
506,714

 
$
(75,543
)
 
$
431,171

 
$
(422,365
)
 
$
—

 
$
8,806

 
(1)
Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
 
 
 
 
 
 
 
Gross Amounts Not Offset on
the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Balance Sheet
 
Net Amounts
of Liabilities
Presented on
the Balance
Sheet
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
Net Amount
Repurchase agreements
$
726,988

 
$
(75,543
)
 
$
651,445

 
$
(645,498
)
 
$
—

 
$
5,947

Securities loaned (2)
130,658

 
—

 
130,658

 
(122,650
)
 
—

 
8,008

Total
$
857,646

 
$
(75,543
)
 
$
782,103

 
$
(768,148
)
 
$
—

 
$
13,955

(2)
Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.