<ARTICLE> BD
<LEGEND>
THIS SHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF INCOME AND CONSOLIDATED BALANCE SHEET OF THE COMPANY'S
QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1999, AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                         265,730
<RECEIVABLES>                                  139,802
<SECURITIES-RESALE>                                  0
<SECURITIES-BORROWED>                                0
<INSTRUMENTS-OWNED>                            201,768
<PP&E>                                          13,732
<TOTAL-ASSETS>                                 651,610
<SHORT-TERM>                                         0
<PAYABLES>                                      63,373
<REPOS-SOLD>                                         0
<SECURITIES-LOANED>                                  0
<INSTRUMENTS-SOLD>                             219,267
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,109
<OTHER-SE>                                     367,861
<TOTAL-LIABILITY-AND-EQUITY>                   651,610
<TRADING-REVENUE>                              394,988
<INTEREST-DIVIDENDS>                             4,757
<COMMISSIONS>                                    6,966
<INVESTMENT-BANKING-REVENUES>                        0
<FEE-REVENUE>                                        0
<INTEREST-EXPENSE>                                   0
<COMPENSATION>                                 127,459
<INCOME-PRETAX>                                150,439
<INCOME-PRE-EXTRAORDINARY>                           0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    87,602
<EPS-BASIC>                                        .80
<EPS-DILUTED>                                      .77