Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Financial Instruments [Abstract]

Unrealized And Realized Gains (Losses) On Derivative Contracts

		2015			2014
Interest rate contracts	$	(42,793	)	$	(5,118	)
Foreign exchange contracts		15,172			6,067
Equity contracts		71,041			(96,236	)
Commodity contracts		14,491			16,186
Credit contracts		(6,042	)		(3,878	)
Total	$	51,869		$	(82,979	)

Remaining Contract Maturity Of Fair Value Of OTC Derivative Assets And Liabilities

	OTC Derivative Assets (1) (2) (3)
								Cross-
						Greater Than		Maturity
		0-12 Months		1-5 Years		5 Years		Netting (4)			Total
Commodity swaps, options and forwards	$	57,079	$	2,674	$	23,599	$	(2,915	)	$	80,437
Equity swaps and options		8,894		31,585		5,657		–			46,136
Credit default swaps		–		–		7,442		(254	)		7,188
Total return swaps		10,135		377		–		(299	)		10,213
Foreign currency forwards, swaps and options		376,842		48,591		90		(23,179	)		402,344
Interest rate swaps, options and forwards		45,809		178,897		125,598		(68,866	)		281,438
Total	$	498,759	$	262,124	$	162,386	$	(95,513	)		827,756
Cross product counterparty netting											(21,605	)
Total OTC derivative assets included in
Trading assets										$	806,151

(1) At March 31, 2015, we held exchange traded derivative assets and other credit agreements with a fair value of $67.9 million, which are not included in this table.

(2) OTC derivative assets in the table above are gross of collateral received. OTC derivative assets are recorded net of collateral received in the Consolidated Statements of Financial Condition. At March 31, 2015 cash collateral received was $377.0 million.

(3) Derivative fair values include counterparty netting within product category.

(4) Amounts represent the netting of receivable balances with payable balances for the same counterparty within product category across maturity categories.

	OTC Derivative Liabilities (1) (2) (3)
								Cross-
						Greater Than		Maturity
		0-12 Months		1-5 Years		5 Years		Netting (4)			Total
Commodity swaps, options and forwards	$	68,406	$	254	$	5,377	$	(2,915	)	$	71,122
Equity swaps and options		4,670		59,118		19,452		–			83,240
Credit default swaps		254		6,242		2,103		(254	)		8,345
Total return swaps		15,733		1,412		–		(299	)		16,846
Foreign currency forwards, swaps and options		326,435		60,213		–		(23,179	)		363,469
Fixed income forwards		431		–		–		–			431
Interest rate swaps, options and forwards		50,381		106,084		143,283		(68,866	)		230,882
Total	$	466,310	$	233,323	$	170,215	$	(95,513	)		774,335
Cross product counterparty netting											(21,605	)
Total OTC derivative liabilities included in
Trading liabilities										$	752,730

(1) At March 31, 2015, we held exchange traded derivative liabilities and other credit agreements with a fair value of $28.0 million, which are not included in this table.

(2) OTC derivative liabilities in the table above are gross of collateral pledged. OTC derivative liabilities are recorded net of collateral pledged in the Consolidated Statements of Financial Condition. At March 31, 2015, cash collateral pledged was $458.4 million.

Counterparty Credit Quality With Respect To Fair Value Of OTC Derivatives Assets

Counterparty credit quality (1):
A- or higher	$	508,060
BBB- to BBB+		107,645
BB+ or lower		94,772
Unrated		95,674
Total	$	806,151

(1) We utilize internal credit ratings determined by Jefferies Risk Management. Credit ratings determined by Risk Management use methodologies that produce ratings generally consistent with those produced by external rating agencies.