<ARTICLE> BD
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS INCLUDED IN THIS REGISTRATION STATEMENT FILING AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                                                  
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1999             SEP-30-1999
<PERIOD-START>                             JAN-01-1999             OCT-01-1998
<PERIOD-END>                               MAR-31-1999             MAR-31-1999
<CASH>                                          49,658                  49,658
<RECEIVABLES>                                1,929,885               1,929,885
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                          346,129                 346,129
<INSTRUMENTS-OWNED>                            891,235                 891,235
<PP&E>                                          65,722                  65,722
<TOTAL-ASSETS>                               3,312,892               3,312,892
<SHORT-TERM>                                   209,662                 209,662
<PAYABLES>                                     598,070                 598,070
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                          1,535,386               1,535,386
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                         2,328                   2,328
<OTHER-SE>                                     967,446                 967,446
<TOTAL-LIABILITY-AND-EQUITY>                 3,312,892               3,312,892
<TRADING-REVENUE>                                    0                       0
<INTEREST-DIVIDENDS>                            44,495                  76,044
<COMMISSIONS>                                   90,524                 150,844
<INVESTMENT-BANKING-REVENUES>                        0                       0
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                              16,055                  26,028
<COMPENSATION>                                       0                       0
<INCOME-PRETAX>                                  9,056                 (14,062)
<INCOME-PRE-EXTRAORDINARY>                       9,056                 (14,062)
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     5,647                  (7,899)
<EPS-BASIC>                                       0.02                   (0.03)
<EPS-DILUTED>                                     0.02                   (0.03)