<ARTICLE> 5
<LEGEND>
ML PRINCIPAL PROTECTION LP CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
DECEMBER 31, 1998 AND 1997 AND CONSOLIDATED STATEMENTS OF INCOME FOR THE
YEARS ENDED DECEMBER 31, 1998, 1997 AND 1996.
</LEGEND>
<CIK> 0000925433
<NAME> ML PRINCIPAL PROTECTION TRADING L.P.
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
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