INTL FCStone 2005 Annual Report Download - page 61

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INTERNATIONAL ASSETS HOLDING CORPORATION AND SUBSIDIARIES
Notes to the Consolidated Financial Statements—(Continued)
September 30, 2005 and 2004
(10) Financial Instruments Owned and Financial Instruments Sold, Not Yet Purchased, at Fair Value
Financial instruments owned and financial instruments sold, not yet purchased at September 30, 2005 and
2004 consisted of trading and investment securities at fair values as follows:
Owned
Sold, not yet
purchased
September 30, 2005:
Common stock and American Depository Receipts ............ $ 2,638,594 $ 4,155,632
Foreign ordinary stocks, paired with their respective American
Depository Receipts .................................. 28,707,227 28,918,901
Corporate and municipal bonds ............................ 3,872,620 254,916
Foreign government obligations ........................... 1,183,256 2,479,050
Negotiable instruments (promissory notes) .................. 7,776,735
U.S. Treasury Bonds under total return swap transactions ....... 24,558,088
Optionsandfutures ..................................... 3,338,381 3,181,690
Commodities .......................................... 23,822,912 28,450,818
U.S.Governmentobligations ............................. 16,894
Other investments ...................................... 36,662
$71,376,387 $92,015,989
Owned
Sold, not yet
purchased
September 30, 2004:
Common stock and American Depository Receipts ............ $ 1,546,117 $ 1,401,367
Foreign ordinary stocks, paired with their respective American
Depository Receipts .................................. 8,851,358 8,935,260
Corporate and municipal bonds ............................ 2,085,122
Foreign government obligations ........................... 1,529,410 454,025
Negotiable instruments (promissory notes) .................. 2,905,812
Optionsandfutures ..................................... 1,762,052 1,519,891
Commodities .......................................... 55,076
U.S.Governmentobligations ............................. 17,194
Other investments ...................................... 53,484
$18,805,625 $12,310,543
(11) Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk
The Company is party to certain financial instruments with off-balance sheet risk in the normal course of
business as a registered securities broker-dealer and from its market making and proprietary trading in the foreign
exchange and commodities trading business. The Company has sold financial instruments that it does not
currently own and will therefore be obligated to purchase such financial instruments at a future date. The
Company has recorded these obligations in the consolidated financial statements at September 30, 2005 at fair
values of the related financial instruments (totaling $92,015,989). The Company will incur losses if the market
value of the financial instruments increases subsequent to September 30, 2005. The total of $92,015,989 includes
$3,181,690 for options and futures contracts, which represent a liability to the Company based on their fair value
as of September 30, 2005.
F-21