Consolidated Statements of Financial Condition - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
ASSETS:
Cash and cash equivalents	$ 1,047	$ 937
Cash and investments segregated under federal regulations	12,680	9,982
Securities purchased under agreements to resell	892	843
Receivable from:
Clients	3,129	3,060
Mutual funds, insurance companies and other	513	450
Brokers, dealers and clearing organizations	219	160
Securities owned, at fair value:
Investment securities	224	201
Inventory securities	43	36
Equipment, property and improvements, at cost, net of accumulated depreciation and amortization	549	559
Other assets	128	128
TOTAL ASSETS	19,424	16,356
Payable to:
Clients	15,414	12,499
Brokers, dealers and clearing organizations	99	71
Accrued compensation and employee benefits	1,116	994
Accounts payable, accrued expenses and other	161	182
Total liabilities before partnership capital	16,790	13,746
Commitments and contingencies (Notes 11 and 12)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	2,417	2,348
Reserve for anticipated withdrawals	217	262
Total partnership capital subject to mandatory redemption	2,634	2,610
TOTAL LIABILITIES	19,424	16,356
Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	902	916
Subordinated Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	421	368
General Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,094	$ 1,064