The following table represents a disaggregation of the Company’s total revenues separated between revenues from contracts with clients and other sources of revenue for the periods indicated.


	Three Months Ended March 31,				Six Months Ended March 31,
(in millions)	2025		2024		2025		2024
Revenues from contracts with clients:
Commission and clearing fees:
Sales-based:
Exchange-traded futures and options	$	71.0	$	55.8	$	134.2	$	107.2
OTC derivative brokerage	2.5		3.0		5.3		5.8
Equities and fixed income	15.0		14.5		30.1		31.0
Mutual funds	0.8		0.9		1.6		1.6
Insurance and annuity products	3.3		3.7		6.5		5.7
Other	0.4		0.2		0.8		0.1
Total sales-based commission	93.0		78.1		178.5		151.4
Trailing:
Mutual funds	3.5		3.2		6.9		6.2
Insurance and annuity products	4.0		3.7		8.0		7.4
Total trailing commission	7.5		6.9		14.9		13.6

Clearing fees	48.0		45.4		92.1		88.7
Trade conversion fees	3.4		3.5		5.6		7.5
Other	12.4		2.3		22.5		4.7
Total commission and clearing fees	164.3		136.2		313.6		265.9
Consulting, management, and account fees:
Underwriting fees	0.2		0.1		0.5		0.1
Asset management fees	14.4		12.3		29.2		23.7
Advisory and consulting fees	9.2		9.0		17.8		17.2
Sweep program fees	11.4		11.3		23.0		22.7
Client account fees	6.5		4.3		12.7		8.5
Other	2.6		3.2		8.9		6.5
Total consulting, management, and account fees	44.3		40.2		92.1		78.7
Sales of physical commodities:
Precious metals sales under ASC Topic 606	611.8		332.8		1,077.8		792.0
Total revenues from contracts with clients	$	820.4	$	509.2	$	1,483.5	$	1,136.6

Method of revenue recognition:
Point-in-time	$	777.9	$	469.7	$	1,398.6	$	1,059.4
Time elapsed	42.5		39.5		84.9		77.2
Total revenues from contracts with clients	820.4		509.2		1,483.5		1,136.6
Other sources of revenues
Physical precious metals under ASC Topic 815	34,233.2		20,067.0		59,755.6		37,229.5
Physical agricultural and energy products	1,147.6		922.1		2,210.3		2,121.3
Principal gains, net	300.5		281.8		609.4		575.6
Interest income	389.0		326.0		767.2		616.1
Total revenues	$	36,890.7	$	22,106.1	$	64,826.0	$	41,679.1

Total revenues by primary geographic region:
United States	$	1,880.0	$	1,407.7	$	3,664.4	$	3,011.2
Europe	840.2		560.2		1,546.0		1,218.6
South America	141.7		105.0		305.0		233.0
Middle East and Asia	34,024.2		20,025.1		59,314.9		37,200.7
Other	4.6		8.1		(4.3)		15.6
Total revenues	$	36,890.7	$	22,106.1	$	64,826.0	$	41,679.1

Operating revenues by primary geographic region:
United States	$	728.6	$	590.0	$	1,364.0	$	1,158.0
Europe	102.7		161.1		308.9		296.7
South America	53.8		25.2		85.0		66.4
Middle East and Asia	59.6		33.7		120.9		65.7
Other	11.3		8.2		21.5		15.6
Total operating revenues	$	956.0	$	818.2	$	1,900.3	$	1,602.4