<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Consolidated Balance Sheet as of December 31, 1999 and the Consolidated
Statement of Operations for the year ended December 31, 1999, which are
contained in the body of the accompanying Form 10-K and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<CASH>                                          43,743
<RECEIVABLES>                                   23,894
<SECURITIES-RESALE>                                  0
<SECURITIES-BORROWED>                                0
<INSTRUMENTS-OWNED>                            141,860
<PP&E>                                          11,308
<TOTAL-ASSETS>                                 226,356
<SHORT-TERM>                                         0
<PAYABLES>                                      32,999
<REPOS-SOLD>                                         0
<SECURITIES-LOANED>                                  0
<INSTRUMENTS-SOLD>                               3,029
<LONG-TERM>                                      1,359
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       209,179
<OTHER-SE>                                     (20,210)
<TOTAL-LIABILITY-AND-EQUITY>                   226,356
<TRADING-REVENUE>                               22,058
<INTEREST-DIVIDENDS>                             9,468
<COMMISSIONS>                                   14,988
<INVESTMENT-BANKING-REVENUES>                   45,183
<FEE-REVENUE>                                   45,312
<INTEREST-EXPENSE>                               1,323
<COMPENSATION>                                  98,424
<INCOME-PRETAX>                                 (6,971)
<INCOME-PRE-EXTRAORDINARY>                      (6,971)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    (6,971)
<EPS-BASIC>                                      (0.14)
<EPS-DILUTED>                                    (0.14)