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Traders Magazine, September 2001

Editorial Staff

Acquisitions *In the wake of a disastrous market, Jefferies Group may be about to launch an acquisition program. A spokesman for the firm said Jefferies will continue to look for new properties if the price is right. Recently, Jefferies bought Lawrence Helfant LLC, the largest independent broker on the New York Stock Exchange. Jefferies will merge Helfant with its floor brokerage subsidiary, W&D Securities. The merged entity, which will be known as the Helfant Group, will continue to operate as an independent company. "We have electronic connectivity to Helfant through the handheld devices," according to John C. Shaw, Jr., president of Jefferies. "We are able to get much better looks for our customers and also get better service for our customers on execution." Helfant posts some 2.5 percent of total Big Board volume. It trades some 13 billion shares annually and it earns about $50 million a year, according to Jefferies officials.

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