v3.26.1
Cash and Cash Equivalents and Restricted Cash (Tables)
3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
Summary of Reconciliation of Cash and Cash Equivalents with Restricted or Segregated Cash

The following table provides a reconciliation of cash and cash equivalents together with restricted or segregated cash as reported within the Consolidated Statements of Financial Condition to the sum of the same such amounts shown in the Consolidated Statements of Cash Flows:

 

 

 

As of

 

 

Statement of Financial Condition Location

 

March 31, 2026

 

 

December 31, 2025

 

 

 

 

(In thousands)

 

Cash and cash equivalents

Cash and cash equivalents

 

$

377,302

 

 

$

519,734

 

Cash segregated for regulatory
   purposes

Cash segregated under federal
   regulations

 

 

49,053

 

 

 

48,722

 

Restricted cash deposits with clearing
   organizations and broker-dealers

Receivables from broker-dealers,
   clearing organizations and customers

 

 

120,471

 

 

 

107,223

 

Other restricted cash deposits

Prepaid expenses and other assets

 

 

1,410

 

 

 

172

 

Total

 

 

$

548,236

 

 

$

675,851