Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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	746	838	770
Depreciation and amortization	82	83	82
Changes in assets and liabilities:
Cash and investments segregated under federal regulations	(2,698)	(1,134)	(413)
Securities purchased under agreements to resell	(49)	(209)	392
Net payable to clients	2,846	908	235
Net receivable from brokers, dealers and clearing organizations	(31)	(55)	35
Receivable from mutual funds, insurance companies and other	(63)	(13)	(32)
Securities owned	(30)	(7)	13
Other assets	0		(33)
Accrued compensation and employee benefits	122	14	137
Accounts payable, accrued expenses and other	(20)	19	20
Net cash provided by operating activities	905	444	1,206
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements, net	(73)	(94)	(90)
Net cash used in investing activities	(73)	(94)	(90)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of subordinated liabilities			(50)
Issuance of partnership interests	72	352	55
Redemption of partnership interests	(178)	(161)	(125)
Distributions from partnership capital	(616)	(637)	(563)
Net cash used in financing activities	(722)	(446)	(683)
Net increase (decrease) in cash and cash equivalents	110	(96)	433
CASH AND CASH EQUIVALENTS:
Beginning of year	937	1,033	600
End of year	1,047	937	1,033
Cash paid for interest	75	75	55
Cash paid for taxes (Note 9)	12	12	10
NON-CASH ACTIVITIES:
Issuance of general partnership interests through partnership loans in current year	146	119	86
Repayment of partnership loans through distributions from partnership capital in current year	$ 98	$ 99	$ 103