<ARTICLE>                                           BD
<LEGEND>
    THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM
CONSOLIDATED   STATEMENT  OF  FINANCIAL   CONDITION  -  DECEMBER  31,  1998  AND
CONSOLIDATED  STATEMENT OF INCOME AS ENDED DECEMBER 31, 1998 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FORM 10K DECEMBER 31, 1998.
</LEGEND>
<NAME>    First Montauk Financial Corp.
<CIK>     0000083125                     
<MULTIPLIER>                       1,000
       
                             
<PERIOD-TYPE>                   Year
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998                         
<PERIOD-END>                                   DEC-31-1998
<CASH>                                         614
<RECEIVABLES>                                  3,127
<SECURITIES-RESALE>                            0
<SECURITIES-BORROWED>                          0
<INSTRUMENTS-OWNED>                            2,733
<PP&E>                                         2,074
<TOTAL-ASSETS>                                 11,544
<SHORT-TERM>                                   0
<PAYABLES>                                     3,701
<REPOS-SOLD>                                   0
<SECURITIES-LOANED>                            0
<INSTRUMENTS-SOLD>                             327
<LONG-TERM>                                    1,034
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       4,981
<OTHER-SE>                                     1,206
<TOTAL-LIABILITY-AND-EQUITY>                   11,544
<TRADING-REVENUE>                              8,796
<INTEREST-DIVIDENDS>                           1,572
<COMMISSIONS>                                  30,741
<INVESTMENT-BANKING-REVENUES>                  767
<FEE-REVENUE>                                  0
<INTEREST-EXPENSE>                             131
<COMPENSATION>                                 31,766
<INCOME-PRETAX>                                (3,367)
<INCOME-PRE-EXTRAORDINARY>                     (3,367)
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   (2,763)
<EPS-PRIMARY>                                  (0.28)
<EPS-DILUTED>                                  (0.28)