Exhibit 21

Subsidiaries of Jefferies Group, Inc.

(excludes certain subsidiaries pursuant to Item 601 of Regulation S-K)

Name	Jurisdiction of Incorporation/Organization
Jefferies & Company, Inc.	Delaware
Corecommodity Management, LLC	Delaware
Jefferies Derivative Products, LLC	Delaware
Jefferies Execution Services, Inc.	California
Jefferies Finance, LLC	Delaware
Jefferies High Yield Trading, LLC	Delaware
Jefferies Bache, LLC	Delaware
Jefferies International Limited	England & Wales
Jefferies Investment Advisers, LLC	Delaware
Jefferies Investment Management Limited	England & Wales
Jefferies Bache Financial Services, Inc.	Delaware
Jefferies Bache Limited	England & Wales
Jefferies Hong Kong Limited	Hong Kong
Jefferies India Private Limited	India
Jefferies (Japan) Limited	Japan
Jefferies LoanCore LLC	Delaware
Jefferies Singapore Limited	Singapore
Jefferies Switzerland Limited	Switzerland
Jefferies Bache (Hong Kong) Limited	Hong Kong