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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WKaXxEmT3UQLCNpkwhabercWPoVic2ZZ6CDsImGSDH6k44z1DHCJKCNvnb4CGlXS
 zHBWgFQibQG9Fxo6aVejaA==

<SEC-DOCUMENT>0001230245-04-000090.txt : 20041021
<SEC-HEADER>0001230245-04-000090.hdr.sgml : 20041021
<ACCEPTANCE-DATETIME>20041021161630
ACCESSION NUMBER:		0001230245-04-000090
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041021
FILED AS OF DATE:		20041021
DATE AS OF CHANGE:		20041021

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KAPLAN SAMUEL L
		CENTRAL INDEX KEY:			0001240086

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31720
		FILM NUMBER:		041089841

	MAIL ADDRESS:	
		STREET 1:		C/O VYYO INC
		STREET 2:		20400 STEVENS CREEK BLVD., 8TH FLOOR
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIPER JAFFRAY COMPANIES
		CENTRAL INDEX KEY:			0001230245
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]

	BUSINESS ADDRESS:	
		STREET 1:		800 NICOLETT MALL
		STREET 2:		J1012057
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402-7020
		BUSINESS PHONE:		6123056000

	MAIL ADDRESS:	
		STREET 1:		800 NICOLETT MALL
		STREET 2:		J1012057
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402-7020
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-10-21</periodOfReport>

    <issuer>
        <issuerCik>0001230245</issuerCik>
        <issuerName>PIPER JAFFRAY COMPANIES</issuerName>
        <issuerTradingSymbol>PJC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001240086</rptOwnerCik>
            <rptOwnerName>KAPLAN SAMUEL L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5500 WELLS FARGO CENTER</rptOwnerStreet1>
            <rptOwnerStreet2>90 SOUTH SEVENTH STREET</rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-10-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>42.70</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5543</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Kaplan, Strangis &amp; Kaplan Profit Sharing Account</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes></footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>James L. Chosy for Samuel L. Kaplan</signatureName>
        <signatureDate>2004-10-21</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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