5. Receivables from and Payables to Broker-dealers, Clearing Organizations and Customers

Receivables from and payables to broker-dealers, clearing organizations and customers consisted of the following:


	As of
	March 31, 2026		December 31, 2025
	(In thousands)
Receivables from broker-dealers, clearing organizations and customers:
Securities failed-to-deliver – broker-dealers and clearing organizations	$	425,549	$	244,405
Securities failed-to-deliver – customers		426,627		131,632
Cash deposits with clearing organizations and broker-dealers		120,471		107,223
Other		4,402		5,951
Total	$	977,049	$	489,211

Payables to broker-dealers, clearing organizations and customers:
Securities failed-to-receive – broker-dealers and clearing organizations	$	483,219	$	224,844
Securities failed-to-receive – customers		202,342		93,107
Other		10,741		8,008
Total	$	696,302	$	325,959

Included in securities failed-to-deliver – broker-dealers and clearing organizations is $75.1 million pledged as collateral to the Company’s settlement bank to secure an overnight borrowing of $71.3 million under the Company’s uncommitted collateralized facility. Please refer to Note 11, Credit Agreements and Short-term Financing, for further discussion of the Company’s borrowings under its uncommitted collateralized facility.