Collateralized Transactions (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017:



(Expressed in thousands)
	Overnight and Open
Repurchase agreements:
U.S. Treasury and Agency securities	$	586,507
Securities loaned:
Equity securities	141,654
Gross amount of recognized liabilities for repurchase agreements and securities loaned	$	728,161

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 June 30, 2017 and December 31, 2016:



As of June 30, 2017
(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	$	133,550	$	(128,698	)	$	4,852	$	(3,617	)	$	—	$	1,235
Securities borrowed ⁽¹⁾	158,454		—			158,454		(154,775		)	—		3,679
Total	$	292,004	$	(128,698	)	$	163,306	$	(158,392	)	$	—	$	4,914


(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 on the Balance Sheet			Net Amounts of Liabilities Presented on the Balance Sheet		Financial Instruments			Cash Collateral Pledged		Net Amount
Repurchase agreements	$	586,507	$	(128,698	)	$	457,809	$	(453,168	)	$	—	$	4,641
Securities loaned ⁽²⁾	141,654		—			141,654		(134,419		)	—		7,235
Total	$	728,161	$	(128,698	)	$	599,463	$	(587,587	)	$	—	$	11,876


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



As of December 31, 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	$	24,006	$	—	$	24,006	$	(23,972	)	$	—	$	34
Securities borrowed ⁽¹⁾	154,090		—		154,090		(150,510		)	—		3,580
Total	$	178,096	$	—	$	178,096	$	(174,482	)	$	—	$	3,614


(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 on the Balance Sheet		Net Amounts of Liabilities Presented on the Balance Sheet		Financial Instruments			Cash Collateral Pledged		Net Amount
Repurchase agreements	$	378,084	$	—	$	378,084	$	(376,273	)	$	—	$	1,811
Securities loaned ⁽²⁾	179,875		—		179,875		(171,991		)	—		7,884
Total	$	557,959	$	—	$	557,959	$	(548,264	)	$	—	$	9,695


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