<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR YEAR <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1996 <PERIOD-START> JAN-01-1997 JAN-01-1996 <PERIOD-END> DEC-31-1997 DEC-31-1996 <CASH> 10,079 2,594 <SECURITIES> 44,522 46,257 <RECEIVABLES> 345,958 99,475 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 400,559 148,326 <PP&E> 3,066 1,286 <DEPRECIATION> (548) (124) <TOTAL-ASSETS> 422,232 160,176 <CURRENT-LIABILITIES> 283,810 145,719 <BONDS> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 29 0 <OTHER-SE> 138,393 14,457 <TOTAL-LIABILITY-AND-EQUITY> 422,232 160,176 <SALES> 60,476 21,566 <TOTAL-REVENUES> 60,476 21,566 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 24,755 12,242 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 0 <INCOME-PRETAX> 35,721 9,324 <INCOME-TAX> 15,001 0 <INCOME-CONTINUING> 20,720 9,324 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 20,720 9,324 <EPS-PRIMARY> 0.91 0 <EPS-DILUTED> 0.91 0