v3.25.1
Assets and Liabilities, at Fair Value (Tables)
 6 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets Measured on Recurring Basis
The following tables set forth the Company’s financial and nonfinancial assets and liabilities accounted for at fair value, on a recurring basis, as of March 31, 2025 and September 30, 2024 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of March 31, 2025 and September 30, 2024.
 March 31, 2025
(in millions)Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $13.7 $— $— $— $13.7 
Money market mutual funds35.8 — — — 35.8 
Cash and cash equivalents49.5 — — — 49.5 
Commodities warehouse receipts10.3 — — — 10.3 
Securities and other assets segregated under federal and other regulations10.3 — — — 10.3 
U.S. Treasury obligations3,128.3 — — — 3,128.3 
To be announced and forward settling securities — 22.0 — (15.6)6.4 
Foreign government obligations18.5 — — — 18.5 
Derivatives2,519.6 2,438.5 — (5,036.9)(78.8)
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net5,666.4 2,460.5 — (5,052.5)3,074.4 
Receivables from clients, net - Derivatives111.2 544.0 — (654.7)0.5 
Equity securities 439.0 22.9 — — 461.9 
Corporate and municipal bonds— 442.8 — — 442.8 
U.S. Treasury obligations794.4 — — — 794.4 
U.S. government agency obligations— 486.2 — — 486.2 
Foreign government obligations1.1 — — — 1.1 
Agency mortgage-backed obligations— 5,331.3 — — 5,331.3 
Asset-backed obligations— 310.5 — — 310.5 
Derivatives— 504.6 — (298.8)205.8 
Commodities warehouse receipts 115.6 — — — 115.6 
Exchange firm common stock 15.9 — — — 15.9 
Cash flow hedges— 9.1 — — 9.1 
Mutual funds and other24.2 — 2.1 — 26.3 
Financial instruments owned1,390.2 7,107.4 2.1 (298.8)8,200.9 
Physical commodities inventory248.0 255.1 — — 503.1 
Total assets at fair value$7,475.6 $10,367.0 $2.1 $(6,006.0)$11,838.7 
Liabilities:
Accounts payable and other accrued liabilities$— $— $3.0 $— $3.0 
Payables to clients - Derivatives2,463.2 296.2 — (2,974.8)(215.4)
To be announced and forward settling securities — 21.7 — (16.7)5.0 
Derivatives191.9 2,510.4 — (2,718.5)(16.2)
Payable to broker-dealers, clearing organizations and counterparties191.9 2,532.1 — (2,735.2)(11.2)
Equity securities 451.2 10.9 — — 462.1 
Foreign government obligations1.1 — — — 1.1 
Corporate and municipal bonds— 236.9 — — 236.9 
U.S. Treasury obligations2,897.0 — — — 2,897.0 
U.S. government agency obligations— 2.1 — — 2.1 
Agency mortgage-backed obligations— 0.3 — — 0.3 
Asset-backed obligations— 0.3 — — 0.3 
Derivatives2.3 449.8 — (246.8)205.3 
Cash flow hedges— 0.2 — — 0.2 
Other— — 0.8 — 0.8 
Financial instruments sold, not yet purchased3,351.6 700.5 0.8 (246.8)3,806.1 
Total liabilities at fair value $6,006.7 $3,528.8 $3.8 $(5,956.8)$3,582.5 
(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy.
 September 30, 2024
(in millions)Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $13.9 $— $— $— $13.9 
Money market mutual funds35.3 — — — 35.3 
Cash and cash equivalents49.2 — — — 49.2 
Commodities warehouse receipts51.8 — — — 51.8 
Securities and other assets segregated under federal and other regulations51.8 — — — 51.8 
U.S. Treasury obligations2,933.2 — — — 2,933.2 
To be announced and forward settling securities — 26.1 — (18.3)7.8 
Foreign government obligations18.3 — — — 18.3 
Derivatives3,900.1 2,168.2 — (5,740.1)328.2 
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net6,851.6 2,194.3 — (5,758.4)3,287.5 
Receivables from clients, net - Derivatives22.4 506.2 — (537.0)(8.4)
Equity securities 363.9 15.0 — — 378.9 
Corporate and municipal bonds— 322.1 — — 322.1 
U.S. Treasury obligations1,088.6 — — — 1,088.6 
U.S. government agency obligations— 531.0 — — 531.0 
Foreign government obligations41.4 — — — 41.4 
Agency mortgage-backed obligations— 3,837.2 — — 3,837.2 
Asset-backed obligations— 223.5 — — 223.5 
Derivatives0.1 603.2 — (375.2)228.1 
Commodities leases— — — — — 
Commodities warehouse receipts 67.8 — — — 67.8 
Exchange firm common stock 13.2 — — — 13.2 
Cash flow hedges— 9.6 — — 9.6 
Mutual funds and other23.6 — 2.1 — 25.7 
Financial instruments owned1,598.6 5,541.6 2.1 (375.2)6,767.1 
Physical commodities inventory207.6 169.0 — — 376.6 
Total assets at fair value$8,781.2 $8,411.1 $2.1 $(6,670.6)$10,523.8 
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities$— $— $2.3 $— $2.3 
Payables to clients - Derivatives3,577.1 228.9 (3,540.1)265.9 
TBA and forward settling securities — 24.4 — (22.9)1.5 
Derivatives378.0 2,356.4 — (2,737.3)(2.9)
Payable to broker-dealers, clearing organizations and counterparties378.0 2,380.8 — (2,760.2)(1.4)
Equity securities 219.8 5.0 — — 224.8 
Foreign government obligations41.0 — — — 41.0 
Corporate and municipal bonds— 154.6 — — 154.6 
U.S. Treasury obligations2,139.3 — — — 2,139.3 
U.S. government agency obligations— 0.2 — — 0.2 
Agency mortgage-backed obligations— 23.6 — — 23.6 
Asset-backed obligations— 3.9 — — 3.9 
Derivatives8.1 571.0 — (314.3)264.8 
Cash flow hedges— 0.2 — — 0.2 
Other— — 0.9 — 0.9 
Financial instruments sold, not yet purchased2,408.2 758.5 0.9 (314.3)2,853.3 
Total liabilities at fair value $6,363.3 $3,368.2 $3.2 $(6,614.6)$3,120.1 
(1)Represents cash collateral and the impact of netting across at each level of the fair value hierarchy.