Collateralized Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Brokers and Dealers [Abstract]

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

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 December 31, 2021:

(Expressed in thousands)
	Overnight and Open
Repurchase agreements:
U.S. Government and Agency securities	$	306,793
Securities loaned:
Equity securities	244,223
Gross amount of recognized liabilities for repurchase agreements and securities loaned	$	551,016

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 December 31, 2021 and 2020:

As of December 31, 2021
(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	$	30,406	$	(29,471)	$	935	$	—	$	—	$	935
Securities borrowed (1)	99,752		—		99,752		(96,929)		—		2,823
Total	$	130,158	$	(29,471)	$	100,687	$	(96,929)	$	—	$	3,758

(1) Included in receivable from brokers, dealers and clearing organizations on the 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	$	306,793	$	(29,471)	$	277,322	$	(276,992)	$	—	$	330
Securities loaned (2)	244,223		—		244,223		(236,597)		—		7,626
Total	$	551,016	$	(29,471)	$	521,545	$	(513,589)	$	—	$	7,956

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

As of December 31, 2020
(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	$	88,349	$	(88,349)	$	—	$	—	$	—	$	—
Securities borrowed (1)	110,932		—		110,932		(109,922)		—		1,010
Total	$	199,281	$	(88,349)	$	110,932	$	(109,922)	$	—	$	1,010

 

(1) Included in receivable from brokers, dealers and clearing organizations on the 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	$	430,787	$	(88,349)	$	342,438	$	(340,632)	$	—	$	1,806
Securities loaned (2)	249,499		—		249,499		(242,318)		—		7,181
Total	$	680,286	$	(88,349)	$	591,937	$	(582,950)	$	—	$	8,987

 

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