Receivable from and payable to brokers, dealers and clearing organizations (Tables)

6 Months Ended

Jun. 30, 2025

Broker-Dealer [Abstract]

Schedule of Receivable from and Payable to Brokers, Dealers and Clearing Organizations

(Expressed in thousands)
	As of
	June 30, 2025		December 31, 2024
Receivable from brokers, dealers and clearing organizations consisting of:
Securities borrowed	$	139,852	$	137,177
Receivable from brokers	53,263		59,487
Securities failed to deliver	39,665		8,459
Clearing organizations and other (1)	57,401		36,355
Total	$	290,181	$	241,478
Payable to brokers, dealers and clearing organizations consisting of:
Securities loaned	$	404,916	$	235,498
Securities failed to receive	20,751		14,757
Payable to brokers	3,099		607
Clearing organizations and other (2)	98,413		2,954
Total	$	527,179	$	253,816

(1) As of December 31, 2024, approximately $15.4 million of this balance represents a receivable for trades executed, but not yet settled.

(2) As of June 30, 2025, approximately $89.4 million of this balance represents a payable for trades executed, but not yet settled.