v3.26.1
Assets and Liabilities, at Fair Value (Tables)
 9 Months Ended
Jun. 30, 2026
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 June 30, 2026 and September 30, 2025 by level in the fair value hierarchy. All fair value measurements were performed on a recurring basis as of June 30, 2026 and September 30, 2025.
June 30, 2026
(in millions)Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $22.1 $— $— $— $22.1 
Money market mutual funds and other54.5 — — — 54.5 
Cash and cash equivalents76.6 — — — 76.6 
Commodities warehouse receipts19.6 — — — 19.6 
U.S. government agency obligations— 110.8 — — 110.8 
U.S. Treasury obligations758.1 — — — 758.1 
Securities and other assets segregated under federal and other regulations777.7 110.8 — — 888.5 
U.S. Treasury obligations3,117.7 — — — 3,117.7 
U.S. government agency obligations— 1,712.2 — — 1,712.2 
To be announced and forward settling securities — 47.7 — (36.5)11.2 
Foreign government obligations23.4 — — — 23.4 
Derivatives5,053.1 1,744.5 — (6,248.1)549.5 
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net8,194.2 3,504.4 — (6,284.6)5,414.0 
Receivables from clients, net - Derivatives589.8 613.3 — (1,132.8)70.3 
Equity securities 1,066.1 11.7 — — 1,077.8 
Corporate and municipal bonds— 586.9 — — 586.9 
U.S. Treasury obligations1,162.5 — — — 1,162.5 
U.S. government agency obligations— 836.1 — — 836.1 
Foreign government obligations— 4.6 — — 4.6 
Agency mortgage-backed obligations— 6,739.9 — — 6,739.9 
Asset-backed obligations— 175.4 — — 175.4 
Derivatives— 912.8 — (677.7)235.1 
Commodities warehouse receipts 223.2 — — — 223.2 
Exchange firm common stock 25.4 — — — 25.4 
Cash flow hedges— 1.3 — — 1.3 
Mutual funds and other64.5 — 2.3 — 66.8 
Financial instruments owned2,541.7 9,268.7 2.3 (677.7)11,135.0 
Physical commodities inventory187.9 225.6 — — 413.5 
Total assets at fair value$12,367.9 $13,722.8 $2.3 $(8,095.1)$17,997.9 
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities$— $— $57.5 $— $57.5 
Payables to clients - Derivatives4,695.2 1,182.1 — (4,844.1)1,033.2 
To be announced and forward settling securities — 72.3 — (37.9)34.4 
Derivatives831.6 1,703.5 — (2,542.5)(7.4)
Payable to broker-dealers, clearing organizations and counterparties831.6 1,775.8 — (2,580.4)27.0 
Equity securities 647.2 12.5 — — 659.7 
Corporate and municipal bonds— 202.9 — — 202.9 
U.S. Treasury obligations2,492.7 — — — 2,492.7 
Agency mortgage-backed obligations— 0.1 — — 0.1 
Derivatives3.1 1,044.0 — (627.1)420.0 
Cash flow hedges— 21.8 — — 21.8 
Other— — 0.1 — 0.1 
Financial instruments sold, not yet purchased3,143.0 1,281.3 0.1 (627.1)3,797.3 
Total liabilities at fair value $8,669.8 $4,239.2 $57.6 $(8,051.6)$4,915.0 
(1)Represents cash collateral and the impact of netting across each level of the fair value hierarchy.
September 30, 2025
(in millions)Level 1Level 2Level 3Netting (1)Total
Assets:
Certificates of deposit $10.3 $— $— $— $10.3 
Money market mutual funds94.8 — — — 94.8 
Cash and cash equivalents105.1 — — — 105.1 
Commodities warehouse receipts145.4 — — — 145.4 
U.S. government agency obligations— 110.7 — — 110.7 
U.S. Treasury obligations693.9 — — — 693.9 
Securities and other assets segregated under federal and other regulations839.3 110.7 — — 950.0 
U.S. Treasury obligations5,210.9 — — — 5,210.9 
U.S. government agency obligations— 1,103.1 — — 1,103.1 
To be announced and forward settling securities — 34.9 — (30.1)4.8 
Foreign government obligations21.2 — — — 21.2 
Derivatives3,208.2 3,508.7 — (6,614.0)102.9 
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net8,440.3 4,646.7 — (6,644.1)6,442.9 
Receivables from clients, net - Derivatives61.2 506.5 — (509.6)58.1 
Equity securities 556.0 6.7 — — 562.7 
Corporate and municipal bonds— 485.7 — — 485.7 
U.S. Treasury obligations678.8 — — — 678.8 
U.S. government agency obligations— 701.9 — — 701.9 
Foreign government obligations— 4.1 — — 4.1 
Agency mortgage-backed obligations— 5,378.9 — — 5,378.9 
Asset-backed obligations— 373.4 — — 373.4 
Derivatives— 658.4 — (468.0)190.4 
Commodities warehouse receipts 144.6 — — — 144.6 
Exchange firm common stock 47.0 — — — 47.0 
Cash flow hedges— 9.5 — — 9.5 
Mutual funds and other25.1 — 2.3 — 27.4 
Financial instruments owned1,451.5 7,618.6 2.3 (468.0)8,604.4 
Physical commodities inventory221.8 249.3 — — 471.1 
Total assets at fair value$11,119.2 $13,131.8 $2.3 $(7,621.7)$16,631.6 
Liabilities:
Accounts payable and other accrued liabilities - contingent liabilities$— $— $32.3 $— $32.3 
Payables to clients - Derivatives3,113.1 904.1 — (3,486.5)530.7 
To be announced and forward settling securities— 76.0 — (26.1)49.9 
Derivatives197.5 3,481.1 — (3,690.1)(11.5)
Payable to broker-dealers, clearing organizations and counterparties197.5 3,557.1 — (3,716.2)38.4 
Equity securities 367.3 4.4 — — 371.7 
Corporate and municipal bonds— 264.1 — — 264.1 
U.S. Treasury obligations1,983.2 — — — 1,983.2 
U.S. government agency obligations— 1.3 — — 1.3 
Agency mortgage-backed obligations— 1.1 — — 1.1 
Derivatives6.3 682.6 — (391.6)297.3 
Cash flow hedges— 1.0 — — 1.0 
Other— — 0.1 — 0.1 
Financial instruments sold, not yet purchased2,356.8 954.5 0.1 (391.6)2,919.8 
Total liabilities at fair value $5,667.4 $5,415.7 $32.4 $(7,594.3)$3,521.2 
(1)Represents cash collateral and the impact of netting across each level of the fair value hierarchy.