Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 0	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	838	770	674
Depreciation and amortization	83	82	82
Changes in assets and liabilities:
Cash and investments segregated under federal regulations	(1,134)	(413)	(720)
Securities purchased under agreements to resell	(209)	392	67
Net payable to clients	908	235	487
Net receivable from brokers, dealers and clearing organizations	(55)	35	55
Receivable from mutual funds, insurance companies and other	(13)	(32)	(50)
Securities owned	(7)	13	(57)
Other assets		(33)	4
Accrued compensation and employee benefits	14	137	178
Accounts payable, accrued expenses and other	19	20	(11)
Net cash provided by operating activities	444	1,206	709
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements, net	(94)	(90)	(84)
Net cash used in investing activities	(94)	(90)	(84)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of subordinated liabilities		(50)	(50)
Issuance of partnership interests (net of partnership loans)	352	55	40
Redemption of partnership interests	(161)	(125)	(115)
Distributions from partnership capital (net of partnership loans)	(637)	(563)	(490)
Issuance of partnership loans			(11)
Net cash used in financing activities	(446)	(683)	(626)
Net (decrease) increase in cash and cash equivalents	(96)	433	(1)
CASH AND CASH EQUIVALENTS:
Beginning of year	1,033	600	601
End of year	937	1,033	600
Cash paid for interest	75	55	59
Cash paid for taxes (Note 9)	12	10	7
NON-CASH ACTIVITIES:
Issuance of general partnership interests through partnership loans in current year	119	86	95
Repayment of partnership loans through distributions from partnership capital in current year	$ 99	$ 103	$ 61