FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * MERKEL STEPHEN M   2. Issuer Name and Ticker or Trading Symbol ESPEED INC [BGCP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Exe. VP, Gen Counsel & Sec (Last) (First) (Middle) C/O BGC PARTNERS, INC., 499 PARK AVE. 3. Date of Earliest Transaction (Month/Day/Year) 04/01/2008 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock, par value $0.01 per share 04/01/2008   A(1)(2)(3)   235,683 (1) (2) (3) A (1) (2) (3) 251,369 (1) (2) (3) D   Class A Common Stock, par value $0.01 per share               2,250 I By spouse Class A Common Stock, par value $0.01 per share               3,892 I By 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MERKEL STEPHEN M C/O BGC PARTNERS, INC. 499 PARK AVE. NEW YORK, NY 10022			Exe. VP, Gen Counsel & Sec

Signatures

/s/ Stephen M. Merkel		04/03/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Deferred stock distributions of shares of Class A Common Stock receivable by the reporting person from Cantor Fitzgerald, L.P. ("CFLP") in respect of his CFLP limited partnership units in connection with the Separation and Merger (as such terms are defined below). (Continued footnote 2)
(2)	The shares are receivable by the reporting person on the ninth anniversary of the completion of the Merger,subject to acceleration in certain circumstances as follows:(i) with respect to distributions received in respect of CFLP partnership units held three years or longer as of the completion of the Merger,one-third of the shares on each of the12-,18- and 24-month anniversaries of the completion of the Merger, and(ii) with respect to distributions received in respect of CFLP partnership units held less than three years as of the completion of the Merger,one-fifth of the shares on each of the 12-,18-,24-,30- and 36-month anniversaries of the completion of the Merger,in the case of both(i) and(ii) above,if,as of the applicable anniversary date,the reporting person continues to provide services to CFLP and has not breached his CFLP partner obligations,including the non-competition and non-solicitation covenants contained in the limited partnership agreement of CFLP.(Continued footnote 3)
(3)	Prior to the Merger, CFLP separated (the "Separation") its inter-dealer brokerage business, market data business and fulfillment businesses (collectively, the "BGC Businesses") from the remainder of CFLP's businesses and contributed the BGC Businesses to BGC Partners, LLC, which then merged (the "Merger") with and into eSpeed, Inc., which was renamed BGC Partners, Inc. The Merger was completed on April 1, 2008.

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