Receivables and Payables (Tables)

3 Months Ended

Mar. 31, 2012

Receivables and Payables

Summary of receivables from, and payables to, brokers, dealers and clearing organizations

	Receivables from						Payables to
	March 31, 2012			December 31, 2011			March 31, 2012		December 31, 2011
Broker-dealers	$	550,607		$	205,975		$	799,105	$	370,146
Clearing organizations	37,481			2,365			79,793		14,945
Securities borrowed	987,764			663,293			—		—
Securities loaned	—			—			1,014,515		694,682
Allowance for doubtful accounts	(584		)	(318		)	—		—
Total	$	1,575,268		$	871,315		$	1,893,413	$	1,079,773

Summary of receivables from, and payables to, customers

	Receivables from						Payables to
	March 31, 2012			December 31, 2011			March 31, 2012		December 31, 2011
Customers	$	1,467,028		$	473,852		$	989,646	$	207,738
Allowance for doubtful accounts	(1,625		)	(1,343		)	—		—
Total	$	1,465,403		$	472,509		$	989,646	$	207,738

Schedule of interest earned and interest incurred on securities borrowed and loaned

	Three Months Ended March 31,
	2012			2011
Interest earned	$	5,902		$	3,351
Interest incurred	(4,505		)	(2,417		)
Net earned	$	1,397		$	934