A.B. Watley Group Inc. (ABWG) is a financial services holding company that conducts its core business activities through its subsidiaries, which are A.B. Watley, Inc. (A.B. Watley), A.B. Watley Direct, Inc. (Direct) and A.B. Watley Futures Corp. (ABW Futures). A.B. Watley and Direct are United States registered broker-dealers that engage in direct-access trading and proprietary trading of United States equities and institutional sales. They provide direct-access trading capabilities and related software to both individuals, as well as institutional customers. A.B. Watley ceased operations in January 2004. In February 2004, A.B. Watley withdrew its registration as a broker/dealer. ABW Futures is an introducing broker/dealer registered with the National Futures Association and conducts futures trading activity for customers.