eSpeed,
Inc.
|
(Name
of Issuer)
|
Common
Stock, $.01 Par Value
|
(Title
of Class of Securities)
|
296643109
|
(CUSIP
Number)
|
Robert
L. Chapman, Jr.
|
Chapman
Capital L.L.C.
|
222
N. Sepulveda Blvd.
|
El
Segundo, CA 90245
|
(310)
662-1900
|
(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
|
April
18, 2007
|
(Date
of Event which Requires Filing of this Statement)
|
*
|
The
remainder of this cover page shall be filled out for a reporting
person’s
initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information
which
would alter disclosures provided in a prior cover page.
|
SCHEDULE
13D
CUSIP
No. 296643109
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chap-Cap
Activist Partners Master Fund, Ltd. - 98-0486684
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
instructions)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Cayman
Islands
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
1,819,293
Common
Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
1,819,293 Common
Shares
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
1,819,293
Common
Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
6.2%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
CO
|
|
|
SCHEDULE
13D
CUSIP
No. 296643109
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chap-Cap
Partners II Master Fund, Ltd. -
98-0486687
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Cayman
Islands
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
935,667
Common Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
935,667
Common Shares
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
935,667
Common Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
3.1%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
CO
|
|
|
SCHEDULE
13D
CUSIP
No. 296643109
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chapman
Capital L.L.C. - 52-1961967
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Delaware
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
2,754,960
Common Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
2,754,960
Common Shares
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
2,754,960
Common Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
9.3%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
IA
|
|
|
SCHEDULE
13D
CUSIP
No. 296643109
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Robert
L. Chapman, Jr.
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
Not
Applicable
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
United
States
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
2,754,960
Common Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
2,754,960
Common Shares
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
2,754,960
Common Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
9.3%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
IN
|
|
|
Date
|
Security
|
Amount
of Shares/Contracts Bought/(Sold)
|
Approximate
Price per Shares/Contracts (inclusive of commissions)
|
03/01/07
|
CS
|
34,900
|
$
8.45
|
03/02/07
|
CS
|
43,500
|
$
8.29
|
03/02/07
|
CS
|
2,400
|
$
8.26
|
03/05/07
|
CS
|
5,952
|
$
8.30
|
03/05/07
|
CS
|
500
|
$
8.25
|
03/06/07
|
CS
|
400
|
$
8.25
|
03/06/07
|
CS
|
32,000
|
$
8.28
|
03/06/07
|
CS
|
157,500
|
$
8.27
|
03/06/07
|
CS
|
(10,500)
|
$
8.38
|
03/06/07
|
CS
|
93,800
|
$
8.37
|
03/07/07
|
CS
|
89,799
|
$
8.39
|
03/07/07
|
CS
|
100
|
$
8.34
|
03/07/07
|
CS
|
(7,000)
|
$
8.46
|
03/08/07
|
CS
|
13,391
|
$
8.27
|
03/08/07
|
CS
|
10,901
|
$
8.37
|
03/13/07
|
CS
|
7,500
|
$
8.78
|
04/18/07
|
C
|
(115)
|
$
3.49
|
04/18/07
|
C
|
(1,062)
|
$
3.06
|
04/18/07
|
C
|
(100)
|
$
3.60
|
04/18/07
|
C
|
(1,062)
|
$
3.18
|
04/18/07
|
C
|
(20)
|
$
3.70
|
04/18/07
|
C
|
(1,062)
|
$
3.31
|
04/19/07
|
C
|
(521)
|
$
2.61
|
04/19/07
|
C
|
(521)
|
$
2.49
|
04/19/07
|
C
|
(521)
|
$
2.74
|
Date
|
Security
|
Amount
of Shares/Contracts Bought/(Sold)
|
Approximate
Price per Shares/Contracts (inclusive of commissions)
|
02/20/07
|
CS
|
111,723
|
$
8.25
|
02/21/07
|
CS
|
50,000
|
$
8.37
|
02/21/07
|
CS
|
11,200
|
$
8.24
|
02/21/07
|
CS
|
25,000
|
$
8.27
|
02/21/07
|
CS
|
19,947
|
$
8.29
|
02/21/07
|
CS
|
(5,000)
|
$
8.33
|
02/21/07
|
CS
|
(26,000)
|
$
8.26
|
02/22/07
|
CS
|
4,000
|
$
8.33
|
02/22/07
|
CS
|
15,271
|
$
8.31
|
02/22/07
|
CS
|
(10,530)
|
$
8.39
|
02/23/07
|
CS
|
(100)
|
$
8.48
|
02/26/07
|
CS
|
2,138
|
$
8.46
|
02/26/07
|
CS
|
(34,370)
|
$
8.48
|
02/27/07
|
CS
|
57,119
|
$
8.49
|
02/28/07
|
CS
|
79,777
|
$
8.48
|
03/01/07
|
CS
|
32,723
|
$
8.46
|
03/02/07
|
CS
|
40,853
|
$
8.29
|
03/02/07
|
CS
|
2,200
|
$
8.26
|
03/05/07
|
CS
|
53,200
|
$
8.30
|
03/05/07
|
CS
|
4,600
|
$
8.25
|
03/06/07
|
CS
|
3,600
|
$
8.25
|
03/06/07
|
CS
|
59,500
|
$
8.28
|
03/06/07
|
CS
|
292,500
|
$
8.27
|
03/06/07
|
CS
|
(19,500)
|
$
8.38
|
03/06/07
|
CS
|
174,200
|
$
8.37
|
03/07/07
|
CS
|
166,700
|
$
8.39
|
03/07/07
|
CS
|
100
|
$
8.34
|
03/07/07
|
CS
|
(13,000)
|
$
8.46
|
03/08/07
|
CS
|
40,100
|
$
8.27
|
03/08/07
|
CS
|
32,600
|
$
8.37
|
03/09/07
|
CS
|
90,197
|
$
8.50
|
03/09/07
|
CS
|
(10,000)
|
$
8.49
|
03/13/07
|
CS
|
22,500
|
$
8.78
|
04/18/07
|
CS
|
(20,300)
|
$
10.56
|
04/18/07
|
C
|
(225)
|
$
3.49
|
04/18/07
|
C
|
(2,088)
|
$
3.06
|
04/18/07
|
C
|
203
(A)
|
$
3.06
|
04/18/07
|
C
|
(200)
|
$
3.60
|
04/18/07
|
C
|
(2,088)
|
$
3.18
|
04/18/07
|
C
|
(39)
|
$
3.70
|
04/18/07
|
C
|
(2,088)
|
$
3.31
|
04/19/07
|
C
|
(1,024)
|
$
2.61
|
04/19/07
|
C
|
(1,024)
|
$
2.49
|
04/19/07
|
C
|
(1,024)
|
$
2.74
|
Exhibit A
|
|
Joint
Filing Agreement, dated March 14, 2007 among Chap-Cap Partners
II Master Fund, Ltd., Chap-Cap Activist Partners Master Fund,
Ltd.,
Chapman Capital L.L.C., and Robert L. Chapman, Jr.
|
Exhibit B
|
|
Press
Release from Chapman Capital demanding that a) the Issuer be
sold in a
change-of-control transaction, and b) the Issuer’s Board compel the
conversion of all Class B common shares into Class A Common
Stock
|
Exhibit C
|
|
Press Release from Chapman Capital demanding that a) the Issuer retain an independent auditor specializing in corporate governance to review the Joint Services Agreement between the Issuer and Cantor Fitzgerald-related entities, and b) the Issuer’s Board compel the conversion of all Class B common shares into Class A Common Stock, followed by the full scale auction of the Issuer. |
Exhibit D
|
Press Release from Chapman Capital a) demanding the replacement of the Issuer’s Directors Albert Weis, John Dalton, Barry Sloane and Barry Gosin, and b) supporting the Issuer's immediate auction. | |
Exhibit E
|
|
E-mail
from Mr. Jason A. McGruder, Vice President of Investor Relations
of the
Issuer to Mr. Chapman.
|
Exhibit F
|
|
E-mail
from Mr. Chapman to Mr. Jason A. McGruder, Vice President of
Investor
Relations of the Issuer.
|
Dated: April
19, 2007
|
Chap-Cap
Partners II Master Fund, Ltd.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
|
|
|||
Dated: April
19, 2007
|
Chap-Cap
Activist Partners Master Fund, Ltd.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
|
|
|||
Dated: April
19, 2007
|
CHAPMAN
CAPITAL L.L.C.
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
Dated: April
19, 2007
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
|
CHAP-CAP
PARTNERS II MASTER FUND, LTD.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|
||
|
|
|
||
|
By:
|
/s/Robert
L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
||
|
|
Managing
Member
|
||
|
|
|
||
|
|
|
||
|
CHAP-CAP
ACTIVIST PARTNERS MASTER FUND, LTD.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|
||
|
|
|
||
|
By:
|
/s/Robert
L. Chapman, Jr.
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Robert
L. Chapman, Jr.
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Managing
Member
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CHAPMAN
CAPITAL L.L.C.
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By:
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/s/Robert
L. Chapman, Jr.
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Robert
L. Chapman, Jr.
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Managing
Member
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/s/Robert
L. Chapman, Jr.
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Robert
L. Chapman, Jr.
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