v3.26.1
Geographic Information and Business Segments - Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 1,189,953 $ 999,573 $ 2,285,280 $ 1,837,442
Operating Expenses:        
Brokerage, exchange, clearance fees and payments for order flow, net 258,986 202,125 397,814 424,000
Interest and dividends expense 205,266 165,213 383,193 296,541
Other segment items 383,144 285,215 752,144 546,145
Total operating expenses 847,396 652,553 1,533,151 1,266,686
Income before income taxes and noncontrolling interest 342,557 347,020 752,129 570,756
Operating segments | Market Making        
Revenues:        
Total revenues 1,009,174 786,593 1,924,871 1,477,765
Operating Expenses:        
Brokerage, exchange, clearance fees and payments for order flow, net 225,815 172,311 328,573 366,614
Interest and dividends expense 202,982 163,871 379,323 293,922
Other segment items 270,643 194,949 530,797 372,587
Total operating expenses 699,440 531,131 1,238,693 1,033,123
Income before income taxes and noncontrolling interest 309,734 255,462 686,178 444,642
Operating segments | Execution Services        
Revenues:        
Total revenues 173,461 214,488 360,592 355,496
Operating Expenses:        
Brokerage, exchange, clearance fees and payments for order flow, net 33,171 29,814 69,241 57,386
Interest and dividends expense 2,284 1,342 3,870 2,619
Other segment items 111,832 89,206 220,217 171,440
Total operating expenses 147,287 120,362 293,328 231,445
Income before income taxes and noncontrolling interest 26,174 94,126 67,264 124,051
Corporate        
Revenues:        
Total revenues 7,318 (1,508) (183) 4,181
Operating Expenses:        
Brokerage, exchange, clearance fees and payments for order flow, net 0 0 0 0
Interest and dividends expense 0 0 0 0
Other segment items 669 1,060 1,130 2,118
Total operating expenses 669 1,060 1,130 2,118
Income before income taxes and noncontrolling interest $ 6,649 $ (2,568) $ (1,313) $ 2,063