Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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	1,092	990	872
Depreciation and amortization	115	94	85
Changes in assets and liabilities:
Investments segregated under federal regulations	(2,392)	1,406	1,747
Securities purchased under agreements to resell	(782)	253	(272)
Net payable to clients	1,805	(1,752)	(2,775)
Net receivable from brokers, dealers and clearing organizations	33	9	(60)
Receivable from mutual funds, insurance companies and other	(106)	(15)	(27)
Securities owned	(89)	15	(41)
Lease right-of-use asset	(71)	0	0
Other assets	(14)	(14)	0
Lease liability	93	0	0
Accrued compensation and employee benefits	282	126	223
Accounts payable, accrued expenses and other	47	26	4
Net cash provided by (used in) operating activities	13	1,138	(244)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements	(176)	(105)	(80)
Cash used in investing activities	(176)	(105)	(80)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests	432	60	80
Redemption of partnership interests	(216)	(199)	(193)
Distributions from partnership capital	(783)	(694)	(598)
Net cash used in financing activities	(567)	(833)	(711)
Net (decrease) increase in cash, cash equivalents and restricted cash	(730)	200	(1,035)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of year	8,737	8,537	9,572
End of year	$ 8,007	$ 8,737	$ 8,537