emir has imposed new requirements on our european entities , including ( a ) reporting derivatives to trade repositories , ( b ) setting up enhanced risk management procedures for otc derivative transactions , ( c ) changes to our clearing account models and increased central counterparty margin requirements . reporting requirements and most risk mitigation procedures were set at the end of 2013. implementation of collateral obligations applicable to non-cleared otc transactions came into force during 2017. european securities and markets authority ( “ esma ” ) is continuing to evaluate and set clearing obligations for certain otc derivatives . intl fcstone ltd complies with the enacted provisions and will do so when pending emir provisions are finalized as relevant to its activities . in addition to the emir , european union financial market legislation markets in financial instruments directive ( “ mifid ” ) ii and markets in financial instruments regulation ( “ mifir ” ) took effect on january 3 , 2018. principal areas of impact related to these regulatory texts involve the emergence and oversight of organized trade facilities ( “ otf 's ” ) for trading otc non-equity products , client categorization , enhanced investor protection , conflicts of interest and execution policies , transparency obligations and extended transaction reporting requirements . we will continue to monitor all applicable regulatory developments . 29 recent events affecting the company during the week ended november 16 , 2018 , balances in approximately 300 accounts of the fcm division of our wholly owned subsidiary , intl fcstone financial , declined below required maintenance margin levels , primarily as a result of significant price fluctuations in the natural gas markets . all positions in these accounts , which were managed by optionsellers.com inc. ( “ optionsellers ” ) , an independent commodity trading advisor ( “ cta ” ) , were liquidated in accordance with the intl fcstone financial 's customer agreements and obligations under market regulation standards . a cta is by definition registered with the cftc and a member of , and subject to audit by , the nfa . optionsellers is registered under a cftc rule 4.7 exemption for “ qualified eligible persons ” , which requires the account holders authorizing optionsellers to act as their cta to meet or exceed certain minimum financial requirements . optionsellers , in its role as a cta , had been granted by each of its customers full discretionary authority to manage the trading in the customer accounts , while intl fcstone financial acted solely as the clearing firm in its role as the fcm , at all times meeting its obligations as the fcm to these accounts . intl fcstone financial 's customer agreements conform to nfa guidance , disclose the risks to which account-holders are exposed , hold account-holders liable for all losses in their accounts , and obligate the account holders to reimburse intl fcstone financial for any account deficits in their accounts . intl fcstone financial continues to pursue collection of these receivables in the ordinary course of business . intl fcstone financial intends both to enforce and to defend its rights aggressively , and to claim interest and costs of collection where applicable . intl fcstone financial 's standard customer agreements provide for arbitration of disputes between parties . as of december 10 , 2018 , the aggregate receivable from these customer accounts , net of collections and other allowable deductions thus far , is $ 31.3 million , with no individual account receivable exceeding $ 1.4 million . the exposure to losses from these customer accounts is not yet determinable , as collection efforts are in early stages , given the timing of events that lead to the receivable balances disclosed above . depending on future collections and an assessment to be made under u.s. gaap , any provisions for bad debts and actual losses ultimately may or may not be material to our financial results . we believe that these accounts receivable balances , along with possible exposure to losses from these customer accounts , will not impact our ability to comply with our ongoing liquidity , capital , and regulatory requirements . effects of the tax cuts and jobs act on december 22 , 2017 , the president of the united states ( “ u.s. ” ) signed and enacted into law h.r . 1 , the tax cuts and jobs act ( the “ tax reform ” ) . among the significant changes to the u.s. internal revenue code , the tax reform lowers the u.s. federal corporate income tax rate from 35 % to 21 % , effective january 1 , 2018. we will compute our income tax expense ( benefit ) for the september 30 , 2018 tax year using a u.s. statutory tax rate of 24.5 % . the 21 % u.s. statutory tax rate will apply to fiscal years ending september 30 , 2019 and thereafter . the tax reform also imposes a one-time mandatory repatriation transition tax on previously untaxed accumulated and current earnings and profits ( “ e & p ” ) of certain of our foreign subsidiaries . the sec staff issued staff accounting bulletin no . 118 ( “ sab 118 ” ) , which provides guidance on accounting for the tax effects of the tax reform . sab 118 provides a measurement period that should not extend beyond one year from the tax reform enactment date for companies to complete the accounting under accounting standards codification ( “ asc ” ) 740 - income taxes ( “ asc 740 ” ) . in accordance with sab 118 , a company must reflect the income tax effects of those aspects of the tax reform for which the accounting under asc 740 is complete . story_separator_special_tag asset management operating revenues declined 35 % to $ 7.7 million in fiscal 2018 , as the average assets under management declined 25 % . our securities segment operating revenues benefited from a $ 26.7 million increase in interest income , primarily in our domestic institutional fixed income and securities lending activities . overall interest income increased $ 53.6 million to $ 123.3 million in fiscal 2018 compared to prior year , primarily driven by the $ 26.7 million increase in our securities segment interest income . in addition , average client equity in the financial ag & energy and exchange-traded futures & options components of our commercial hedging and ces segments increased 8 % to $ 2.2 billion in fiscal 2018 compared to the prior year , which combined with an increase in short term interest rates resulted in an aggregate $ 21.1 million increase in interest income in these businesses . included in interest income in the prior year period was a $ 4.8 million unrealized loss on u.s. treasury notes held as part of our interest rate management strategy . finally , operating revenues for fiscal 2018 include gains of $ 5.5 million related to economic hedges in place against the effect of the devaluation of the argentina peso on our argentine operations , reported in the corporate unallocated segment . 34 see segment information below for additional information on activity in each of the segments . year ended september 30 , 2017 compared to year ended september 30 , 2016 operating revenues increased 17 % to $ 784.0 million in fiscal 2017 compared to $ 671.0 million in the prior year . operating revenue growth was driven by a $ 108.7 million increase in our ces segment , primarily as a result of incremental operating revenues from our recent acquisitions . in addition , global payments and commercial hedging operating revenues increased $ 16.0 million and $ 8.5 million , respectively . physical commodities segment operating revenues increased $ 8.2 million versus the prior year . offsetting this revenue growth was a $ 23.5 million decline in operating revenues within our securities segment . operating revenues for fiscal 2017 included a $ 5.9 million pre-tax unrealized loss on interest rate swaps and u.s. treasury notes held as part of our interest rate management strategy . the prior year period included a $ 0.7 million pre-tax unrealized loss on interest rate swaps and u.s. treasury notes held as part of our interest rate management strategy . on a segment basis , these unrealized losses were reported in the corporate unallocated segment , while the amortized earnings on these investments were included in the commercial hedging and ces segments . during fiscal 2017 , we liquidated our interest rate swap and u.s. treasury note positions , held as part of the strategy , due to scheduled maturities as well as the close-outs of profitable positions as we determined there was no longer a sufficient interest rate spread between short-term and medium term rates . operating revenues in our ces segment increased 72 % to $ 259.8 million in fiscal 2017 , primarily as a result of the acquisition of the sterne agee correspondent clearing and independent wealth management businesses at the beginning of the fourth quarter of fiscal 2016 , which added an incremental $ 75.3 million in operating revenues in fiscal 2018. also contributing to the revenue growth was the acquisition of icap plc 's london-based emea oil voice brokerage business , at the beginning of the first quarter of fiscal 2017 , which contributed $ 26.7 million to fiscal 2018 operating revenues . the exchange-traded futures & options business added $ 8.8 million in operating revenues primarily as a result of an increase in the average rate per contract , while the fx prime brokerage business declined $ 2.3 million , despite a 7 % increase in client volumes as spreads narrowed in this business . operating revenues in our global payments segment increased 22 % in fiscal 2017 to $ 89.2 million , as a result of a 46 % increase in the number of global payments made which was partially offset by a narrowing of spreads in this business due to an increase in volume of smaller transactions from financial institutions . operating revenues in commercial hedging increased 4 % in fiscal 2017 to $ 244.6 million , primarily driven by a $ 4.8 million increase in interest income . in addition , exchange-traded revenues increased $ 4.3 million , while otc revenues declined $ 1.5 million . an increase in agricultural and energy and renewable fuels revenues drove the increase in exchange-traded revenues . our physical commodity segment operating revenues increased 22 % to $ 44.8 million , as a result of a $ 6.0 million increase in physical ag & energy operating revenues , while precious metals added $ 2.2 million in operating revenues . operating revenues in our securities segment declined 13 % to $ 151.7 million in fiscal 2017 compared to the prior year . the debt capital markets and asset management businesses declined $ 11.5 and $ 6.3 million , respectively , as the prior year period reflected strong performance in our argentine operations in these businesses following the devaluation of the argentine peso in december 2015. investment banking , now included within debt capital markets , had a decline in operating revenues of $ 1.0 million due both to weaker results in argentina and management 's decision to exit our domestic investment banking business . in addition , equity capital markets operating revenues declined $ 5.7 million as a result of a narrowing of spreads due to lower market volatility . overall interest income increased $ 14.5 million to $ 69.7 million in fiscal 2017 compared to prior year , primarily driven a $ 6.4 million increase in debt capital markets interest income . in addition , average client equity in the financial ag & energy and exchange-traded

- debt capital markets - physical ag & energy - fx prime brokerage - asset management - correspondent clearing - independent wealth management - derivative voice brokerage we report our operating segments based on services provided to clients . net contribution is one of the key measures used by management to assess the performance of each segment and for decisions regarding the allocation of our resources . net contribution is calculated as revenues less direct cost of sales , transaction-based clearing expenses , introducing broker commissions , interest expense and variable compensation . variable compensation paid to risk management consultants and traders generally represents a fixed percentage of an amount equal to revenues generated , and in some cases , revenues generated less transaction-based clearing expense and related charges , base salaries and an overhead allocation . 41 segment income is calculated as net contribution less non-variable direct expenses of the segment . these non-variable direct expenses include trader base compensation and benefits , operational charges , communication and data services , business development , professional fees , bad debt expense , trade errors and direct marketing expenses . total segment results the following table shows summary information concerning all of our business segments combined .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```- debt capital markets - physical ag & energy - fx prime brokerage - asset management - correspondent clearing - independent wealth management - derivative voice brokerage we report our operating segments based on services provided to clients . net contribution is one of the key measures used by management to assess the performance of each segment and for decisions regarding the allocation of our resources . net contribution is calculated as revenues less direct cost of sales , transaction-based clearing expenses , introducing broker commissions , interest expense and variable compensation . variable compensation paid to risk management consultants and traders generally represents a fixed percentage of an amount equal to revenues generated , and in some cases , revenues generated less transaction-based clearing expense and related charges , base salaries and an overhead allocation . 41 segment income is calculated as net contribution less non-variable direct expenses of the segment . these non-variable direct expenses include trader base compensation and benefits , operational charges , communication and data services , business development , professional fees , bad debt expense , trade errors and direct marketing expenses . total segment results the following table shows summary information concerning all of our business segments combined .
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 Suspicious Activity Report : emir has imposed new requirements on our european entities , including ( a ) reporting derivatives to trade repositories , ( b ) setting up enhanced risk management procedures for otc derivative transactions , ( c ) changes to our clearing account models and increased central counterparty margin requirements . reporting requirements and most risk mitigation procedures were set at the end of 2013. implementation of collateral obligations applicable to non-cleared otc transactions came into force during 2017. european securities and markets authority ( “ esma ” ) is continuing to evaluate and set clearing obligations for certain otc derivatives . intl fcstone ltd complies with the enacted provisions and will do so when pending emir provisions are finalized as relevant to its activities . in addition to the emir , european union financial market legislation markets in financial instruments directive ( “ mifid ” ) ii and markets in financial instruments regulation ( “ mifir ” ) took effect on january 3 , 2018. principal areas of impact related to these regulatory texts involve the emergence and oversight of organized trade facilities ( “ otf 's ” ) for trading otc non-equity products , client categorization , enhanced investor protection , conflicts of interest and execution policies , transparency obligations and extended transaction reporting requirements . we will continue to monitor all applicable regulatory developments . 29 recent events affecting the company during the week ended november 16 , 2018 , balances in approximately 300 accounts of the fcm division of our wholly owned subsidiary , intl fcstone financial , declined below required maintenance margin levels , primarily as a result of significant price fluctuations in the natural gas markets . all positions in these accounts , which were managed by optionsellers.com inc. ( “ optionsellers ” ) , an independent commodity trading advisor ( “ cta ” ) , were liquidated in accordance with the intl fcstone financial 's customer agreements and obligations under market regulation standards . a cta is by definition registered with the cftc and a member of , and subject to audit by , the nfa . optionsellers is registered under a cftc rule 4.7 exemption for “ qualified eligible persons ” , which requires the account holders authorizing optionsellers to act as their cta to meet or exceed certain minimum financial requirements . optionsellers , in its role as a cta , had been granted by each of its customers full discretionary authority to manage the trading in the customer accounts , while intl fcstone financial acted solely as the clearing firm in its role as the fcm , at all times meeting its obligations as the fcm to these accounts . intl fcstone financial 's customer agreements conform to nfa guidance , disclose the risks to which account-holders are exposed , hold account-holders liable for all losses in their accounts , and obligate the account holders to reimburse intl fcstone financial for any account deficits in their accounts . intl fcstone financial continues to pursue collection of these receivables in the ordinary course of business . intl fcstone financial intends both to enforce and to defend its rights aggressively , and to claim interest and costs of collection where applicable . intl fcstone financial 's standard customer agreements provide for arbitration of disputes between parties . as of december 10 , 2018 , the aggregate receivable from these customer accounts , net of collections and other allowable deductions thus far , is $ 31.3 million , with no individual account receivable exceeding $ 1.4 million . the exposure to losses from these customer accounts is not yet determinable , as collection efforts are in early stages , given the timing of events that lead to the receivable balances disclosed above . depending on future collections and an assessment to be made under u.s. gaap , any provisions for bad debts and actual losses ultimately may or may not be material to our financial results . we believe that these accounts receivable balances , along with possible exposure to losses from these customer accounts , will not impact our ability to comply with our ongoing liquidity , capital , and regulatory requirements . effects of the tax cuts and jobs act on december 22 , 2017 , the president of the united states ( “ u.s. ” ) signed and enacted into law h.r . 1 , the tax cuts and jobs act ( the “ tax reform ” ) . among the significant changes to the u.s. internal revenue code , the tax reform lowers the u.s. federal corporate income tax rate from 35 % to 21 % , effective january 1 , 2018. we will compute our income tax expense ( benefit ) for the september 30 , 2018 tax year using a u.s. statutory tax rate of 24.5 % . the 21 % u.s. statutory tax rate will apply to fiscal years ending september 30 , 2019 and thereafter . the tax reform also imposes a one-time mandatory repatriation transition tax on previously untaxed accumulated and current earnings and profits ( “ e & p ” ) of certain of our foreign subsidiaries . the sec staff issued staff accounting bulletin no . 118 ( “ sab 118 ” ) , which provides guidance on accounting for the tax effects of the tax reform . sab 118 provides a measurement period that should not extend beyond one year from the tax reform enactment date for companies to complete the accounting under accounting standards codification ( “ asc ” ) 740 - income taxes ( “ asc 740 ” ) . in accordance with sab 118 , a company must reflect the income tax effects of those aspects of the tax reform for which the accounting under asc 740 is complete . story_separator_special_tag asset management operating revenues declined 35 % to $ 7.7 million in fiscal 2018 , as the average assets under management declined 25 % . our securities segment operating revenues benefited from a $ 26.7 million increase in interest income , primarily in our domestic institutional fixed income and securities lending activities . overall interest income increased $ 53.6 million to $ 123.3 million in fiscal 2018 compared to prior year , primarily driven by the $ 26.7 million increase in our securities segment interest income . in addition , average client equity in the financial ag & energy and exchange-traded futures & options components of our commercial hedging and ces segments increased 8 % to $ 2.2 billion in fiscal 2018 compared to the prior year , which combined with an increase in short term interest rates resulted in an aggregate $ 21.1 million increase in interest income in these businesses . included in interest income in the prior year period was a $ 4.8 million unrealized loss on u.s. treasury notes held as part of our interest rate management strategy . finally , operating revenues for fiscal 2018 include gains of $ 5.5 million related to economic hedges in place against the effect of the devaluation of the argentina peso on our argentine operations , reported in the corporate unallocated segment . 34 see segment information below for additional information on activity in each of the segments . year ended september 30 , 2017 compared to year ended september 30 , 2016 operating revenues increased 17 % to $ 784.0 million in fiscal 2017 compared to $ 671.0 million in the prior year . operating revenue growth was driven by a $ 108.7 million increase in our ces segment , primarily as a result of incremental operating revenues from our recent acquisitions . in addition , global payments and commercial hedging operating revenues increased $ 16.0 million and $ 8.5 million , respectively . physical commodities segment operating revenues increased $ 8.2 million versus the prior year . offsetting this revenue growth was a $ 23.5 million decline in operating revenues within our securities segment . operating revenues for fiscal 2017 included a $ 5.9 million pre-tax unrealized loss on interest rate swaps and u.s. treasury notes held as part of our interest rate management strategy . the prior year period included a $ 0.7 million pre-tax unrealized loss on interest rate swaps and u.s. treasury notes held as part of our interest rate management strategy . on a segment basis , these unrealized losses were reported in the corporate unallocated segment , while the amortized earnings on these investments were included in the commercial hedging and ces segments . during fiscal 2017 , we liquidated our interest rate swap and u.s. treasury note positions , held as part of the strategy , due to scheduled maturities as well as the close-outs of profitable positions as we determined there was no longer a sufficient interest rate spread between short-term and medium term rates . operating revenues in our ces segment increased 72 % to $ 259.8 million in fiscal 2017 , primarily as a result of the acquisition of the sterne agee correspondent clearing and independent wealth management businesses at the beginning of the fourth quarter of fiscal 2016 , which added an incremental $ 75.3 million in operating revenues in fiscal 2018. also contributing to the revenue growth was the acquisition of icap plc 's london-based emea oil voice brokerage business , at the beginning of the first quarter of fiscal 2017 , which contributed $ 26.7 million to fiscal 2018 operating revenues . the exchange-traded futures & options business added $ 8.8 million in operating revenues primarily as a result of an increase in the average rate per contract , while the fx prime brokerage business declined $ 2.3 million , despite a 7 % increase in client volumes as spreads narrowed in this business . operating revenues in our global payments segment increased 22 % in fiscal 2017 to $ 89.2 million , as a result of a 46 % increase in the number of global payments made which was partially offset by a narrowing of spreads in this business due to an increase in volume of smaller transactions from financial institutions . operating revenues in commercial hedging increased 4 % in fiscal 2017 to $ 244.6 million , primarily driven by a $ 4.8 million increase in interest income . in addition , exchange-traded revenues increased $ 4.3 million , while otc revenues declined $ 1.5 million . an increase in agricultural and energy and renewable fuels revenues drove the increase in exchange-traded revenues . our physical commodity segment operating revenues increased 22 % to $ 44.8 million , as a result of a $ 6.0 million increase in physical ag & energy operating revenues , while precious metals added $ 2.2 million in operating revenues . operating revenues in our securities segment declined 13 % to $ 151.7 million in fiscal 2017 compared to the prior year . the debt capital markets and asset management businesses declined $ 11.5 and $ 6.3 million , respectively , as the prior year period reflected strong performance in our argentine operations in these businesses following the devaluation of the argentine peso in december 2015. investment banking , now included within debt capital markets , had a decline in operating revenues of $ 1.0 million due both to weaker results in argentina and management 's decision to exit our domestic investment banking business . in addition , equity capital markets operating revenues declined $ 5.7 million as a result of a narrowing of spreads due to lower market volatility . overall interest income increased $ 14.5 million to $ 69.7 million in fiscal 2017 compared to prior year , primarily driven a $ 6.4 million increase in debt capital markets interest income . in addition , average client equity in the financial ag & energy and exchange-traded

