<ARTICLE>                                           BD


                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                                  DEC-31-2000
<PERIOD-END>                                       JUN-30-2000
<CASH>                                              28,365,000
<RECEIVABLES>                                        2,399,000
<SECURITIES-RESALE>                                          0
<SECURITIES-BORROWED>                                        0
<INSTRUMENTS-OWNED>                                  4,447,000
<PP&E>                                               1,367,000
<TOTAL-ASSETS>                                      38,631,000
<SHORT-TERM>                                                 0
<PAYABLES>                                                   0
<REPOS-SOLD>                                                 0
<SECURITIES-LOANED>                                          0
<INSTRUMENTS-SOLD>                                           0
<LONG-TERM>                                                  0
<PREFERRED-MANDATORY>                                        0
<PREFERRED>                                                  0
<COMMON>                                               229,000
<OTHER-SE>                                          33,981,000
<TOTAL-LIABILITY-AND-EQUITY>                        38,631,000
<TRADING-REVENUE>                                      393,000
<INTEREST-DIVIDENDS>                                   867,000
<COMMISSIONS>                                       22,482,000
<INVESTMENT-BANKING-REVENUES>                          818,000
<FEE-REVENUE>                                                0
<INTEREST-EXPENSE>                                       9,000
<COMPENSATION>                                       6,218,000
<INCOME-PRETAX>                                      8,541,000
<INCOME-PRE-EXTRAORDINARY>                           8,541,000
<EXTRAORDINARY>                                              0
<CHANGES>                                                    0
<NET-INCOME>                                         4,960,000
<EPS-BASIC>                                                .22
<EPS-DILUTED>                                              .21