EXHIBIT
10.30

NEITHER THIS WARRANT NOR THE SHARES OF CLASS A
COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AND NEITHER THIS WARRANT
NOR SUCH SHARES MAY BE SOLD, ENCUMBERED OR OTHERWISE TRANSFERRED EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR AN
EXEMPTION FROM SUCH REGISTRATION REQUIREMENT, AND, IF AN EXEMPTION
SHALL BE APPLICABLE, THE HOLDER SHALL HAVE DELIVERED AN OPINION OF
COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED.

Void after 5:00 p.m. Eastern Standard Time, on
August 21, 2012.

AMENDED AND RESTATED WARRANT TO
PURCHASE CLASS A COMMON STOCK
OF
 eSPEED, INC.

FOR VALUE
RECEIVED, eSPEED, INC. (the
"Company"), a Delaware corporation,
hereby certifies that UBS AMERICAS INC. (successor by merger to UBS USA
Inc.) (the "Initial Holder"), or its
permitted assigns (together with the Initial Holder, the
"Holder"), is entitled to purchase
from the Company, at any time or from time to time commencing on the
Exercise Date set forth in Section 4 hereof (as the same may be
accelerated pursuant to Section 4(b) hereof) and prior to 5:00 P.M.,
Eastern Standard Time, on August 21, 2012 a total of 175,000 fully paid
and non-assessable shares of Class A Common Stock, par value $.01 per
share, of the Company for a purchase price of $8.75 per share.
(Hereinafter, (i) said Class A Common Stock, together with any other
equity securities which may be issued by the Company with respect
thereto or in substitution therefor, is referred to as the
"Class A Stock," (ii) the shares of
the Class A Stock purchasable hereunder are referred to as the
"Warrant Shares," (iii) the
aggregate purchase price payable hereunder for the Warrant Shares is
referred to as the "Aggregate Warrant
Price," (iv) the price payable hereunder for each of
the Warrant Shares is referred to as the "Per Share
Warrant Price," (v) this Warrant, and all warrants
hereafter issued in exchange or substitution for this Warrant are
referred to as the "Warrant" and
(vi) the holder of this Warrant is referred to as the
"Holder.") The number of Warrant
Shares and the securities (if applicable) for which this Warrant is
exercisable and the Per Share Warrant Price are subject to adjustment
as hereinafter provided under Section 3.

1.    Exercise of
Warrant.    This Warrant may be exercised, in whole at any time
or in part from time to time, commencing on the Exercise Date set forth
in Section 4 hereof (as the same may be accelerated pursuant to Section
4(b) hereof) and prior to 5:00 P.M., Eastern Standard Time, on August
21, 2012 by the Holder of this Warrant by the surrender of this Warrant
(with the subscription form at the end hereof duly executed) at the
address set forth in Section 9(a) hereof, together with proper payment
of the Aggregate Warrant Price, or the proportionate part thereof if
this Warrant is exercised in part. The Aggregate Warrant Price or Per
Share Warrant Price shall be paid in cash, via wire transfer to an
account designated by the Company, or by certified or official bank
check payable to the order of the Company.

If this Warrant is
exercised in part, the Holder shall be entitled to receive a new
Warrant covering the number of Warrant Shares in respect of which this
Warrant has not been exercised and setting forth the proportionate part
of the Aggregate Warrant Price applicable to such Warrant Shares. Upon
the surrender of this Warrant, for an exercise of this Warrant in part,
the Company will (a) issue and deliver a certificate or certificates in
the name of the Holder for the shares of the Class A Stock to which the
Holder shall be entitled for such partial exercise, and (b) issue and
deliver a Warrant in the name of the Holder for the remaining number of
Warrant Shares in respect of which this Warrant has not been exercised,
pursuant to the provisions of this Warrant.

If this Warrant is
exercised in whole, upon surrender of this Warrant, the Company will
issue a certificate or certificates in the name of the Holder for the
shares of the Class A Stock to which the Holder shall be entitled,
pursuant to the provisions of this Warrant.








No fractional shares shall be issued upon
the exercise of this Warrant. With respect to any fraction of a share
called for upon any exercise hereof, the Company shall pay to the
Holder an amount in cash equal to such fraction multiplied by the fair
market value of a share as reasonably determined by the Company's
Board of Directors.

2.    Reservation of Warrant
Shares.    The Company agrees that, prior to the expiration of
this Warrant, the Company from and as of the date hereof, will have
authorized and in reserve, and will keep available, solely for issuance
or delivery upon the exercise of this Warrant, the shares of the Class
A Stock as from time to time shall be receivable upon the exercise of
this Warrant.

3.    Adjustments for Corporate
Events.    The number and kind of securities issuable upon the
exercise of this Warrant, the Per Share Warrant Price and the number of
Warrant Shares for which this Warrant may be exercised shall be subject
to adjustment from time to time in accordance with the following
provisions:

(a)    Reorganization,
Reclassification.    In the event of a reorganization, share
exchange, or reclassification, other than a change in par value, or
from par value to no par value, or from no par value to par value or a
transaction described in subsection (b) or (c) below, this Warrant
shall, after such reorganization, share exchange or reclassification,
be exercisable into the kind and number of shares of stock or other
securities or other property of the Company which the holder of this
Warrant would have been entitled to receive if the holder had held the
Warrant Shares issuable upon exercise of this Warrant immediately prior
to such reorganization, share exchange, or reclassification. The
provision of this Section 3(a) shall similarly apply to successive
reorganizations and reclassifications.

(b)    Merger, Consolidation or Sale of All or
Substantially All Assets.    In the event of a merger or
consolidation to which the Company is a party or the sale of all or
substantially all of the assets of the Company, this Warrant shall,
after such merger, consolidation or sale, be exercisable for the kind
and number of shares of stock and/or other securities, cash or other
property which the holder of this Warrant would have been entitled to
receive if the holder had held the Warrant Shares issuable upon
exercise of this Warrant immediately prior to such merger,
consolidation or sale. Any such merger, consolidation or sale shall
require, as a condition thereto, that such other party to such merger,
consolidation or sale agree in writing to assume this Warrant. The
provision of this Section 3(b) shall similarly apply to successive
mergers and transfers.

(c)    Subdivision
or Combination of Shares.    In case outstanding shares of Class
A Stock shall be subdivided, the Per Share Warrant Price shall be
proportionately reduced as of the effective date of such subdivision,
or as of the date a record is taken of the holders of Class A Stock for
the purpose of so subdividing, whichever is earlier. In case
outstanding shares of Class A Stock shall be combined, the Per Share
Warrant Price shall be proportionately increased as of the effective
date of such combination, or as of the date a record is taken of the
holders of Class A Stock for the purpose of so combining, whichever is
earlier.

(d)    Stock
Dividends.    In case shares of Class A Stock are issued as a
dividend or other distribution on the Class A Stock, then the Per Share
Warrant Price shall be adjusted, as of the date a record is taken of
the holders of Class A Stock for the purpose of receiving such dividend
or other distribution (or if no such record is taken, as at the
earliest of the date of such declaration, payment or other
distribution), to that price determined by multiplying the Per Share
Warrant Price in effect immediately prior to such declaration, payment
or other distribution by a fraction (i) the numerator of which shall be
the number of shares of Class A Stock outstanding immediately prior to
the declaration or payment of such dividend or other distribution, and
(ii) the denominator of which shall be the total number of shares of
Class A Stock outstanding immediately after the declaration or payment
of such dividend or other distribution. In the event that the Company
shall declare or pay any dividend on the Class A Stock payable in any
right to acquire Class A Stock for no consideration, then, for purposes
of calculating such adjustment, the 









Company shall be deemed to have made a
dividend payable in Class A Stock in an amount of shares equal to the
maximum number of shares issuable upon exercise of such rights to
acquire Class A Stock.

(e)    Adjustment
of Aggregate Number of Warrant Shares Issuable.    Upon each
adjustment of the Per Share Warrant Price under the provisions of this
Section 3, the aggregate number of Warrant Shares issuable upon
exercise of this Warrant shall be adjusted to an amount determined by
multiplying the Warrant Shares issuable prior to such adjustment by a
fraction (x) the numerator of which is the Per Share Warrant Price in
effect immediately prior to the event causing such adjustment (y) the
denominator of which is the adjusted Per Share Warrant Price.

(f)    Minimum Adjustment.    No
adjustment of the Per Share Warrant Price shall be made if the amount
of any such adjustment would be an amount less than 1% of the
Per Share Warrant Price then in effect, but any such amount shall be
carried forward and an adjustment in respect thereof shall be made at
the time of and together with any subsequent adjustment which, together
with such amount and any other amount or amounts so carried forward,
shall aggregate an increase or decrease of 1% or more.

(g)    Treasury Shares.    The number
of shares of Class A Stock at any time outstanding shall not include
any shares thereof then directly or indirectly owned or held by or for
the account of the Company.

(h)    Notices.    If at any time, (x)
the Company shall declare a stock dividend (or any other distribution
except for cash dividends) on its Class A Stock; (y) there shall be any
capital reorganization or reclassification of the Class A Stock, or any
consolidation or merger to which the Company is a party, or any sale or
transfer of all of substantially all of the assets of the Company; or
(z) there shall be a voluntary or involuntary dissolution, liquidation
or winding-up of the Company; then, in any one or more of such cases,
the Company shall give written notice to the Holder, not less than 10
days before any record date or other date set for definitive action, or
of the date on which such reorganization, reclassification, sale,
consolidation, merger, dissolution, liquidation or winding up shall
take place, as the case may be. Such notice shall also set forth such
facts as shall indicate the effect of such action (to the extent such
effect may be known at the date of such notice) on the current Per
Share Warrant Price and the kind and amount of Class A Stock and other
securities and property deliverable upon exercise of this Warrant. Such
notice shall also specify the date (to the extent known) as of which
the holders of the Class A Stock of record shall be entitled to
exchange their Class A Stock for securities or other property
deliverable upon such reorganization, reclassification, sale,
consolidation, merger, dissolution, liquidation or winding up, as the
case may be. In addition, whenever the aggregate number of Warrant
Shares issuable upon exercise of this Warrant and Per Share Warrant
Price is adjusted as herein provided, the Chief Financial Officer of
the Company shall compute the adjusted number of Warrant Shares and Per
Share Warrant Price in accordance with the foregoing provisions and
shall prepare a written certificate setting forth such adjusted number
of Warrant Shares and Per Share Warrant Price, and such written
instrument shall promptly be delivered to the recordholder of this
Warrant.

4.    Exercise of Warrant.

    (a)    Exercise Date.    This
Warrant shall be vested immediately and shall be exercisable as to all
Warrant Shares commencing May 21, 2011 (the "Exercise
Date"), subject to acceleration as set forth in
subsection (b) below.

    (b)    Acceleration of
Exercisability.    This Warrant shall become exercisable as to
175,000 Warrant Shares, in seven lots of 25,000 Warrant Shares each, if
the Price Feed Condition (as defined in paragraph (x) below), is
satisfied for each of the First Commitment Period through the Seventh
Commitment Period (as defined in paragraph (y) below). Satisfaction of
the Price Feed Condition shall be evidenced by a Determination pursuant
to paragraph (x) below. For the avoidance of doubt, it is understood
that each Commitment Period is independent and the failure










to satisfy the Price Feed Condition for one or
more Commitment Periods shall not preclude satisfaction of the Price
Feed Condition and acceleration of the related Warrant Shares in any
other Commitment Period.

(x)    Definition
of Price Feed Condition.    A "Price Feed
Condition" shall be deemed satisfied if, during the
applicable Commitment Period (as defined in paragraph (y) below), the
Subscriber shall have performed, satisfied and complied in all material
respects with the covenants, agreements and conditions required thereby
to be performed, satisfied or complied with by the Bank (as defined in
that certain Global Fixed Income Transaction Fee Agreement, dated 21
August 2002 between the Company and the Initial Holder, as amended by
the Amendment to Global Fixed Income Transaction Fee Agreement dated as
of September 18, 2003 (the "Amendment") (as
so amended, the "Agreement")) in
accordance with Annex II of the Agreement, as the same may be further
amended from time to time. Within 21 days of the end of each Commitment
Period, the Company shall notify the Holder in writing as to whether
the Price Feed Condition has been satisfied for such Commitment Period,
together with an explanation for such determination in reasonable
detail (the "Determination"). If the
Holder notifies the Company in writing, within fifteen (15) days of
receipt of the Determination of its objection to the Determination,
then no determination shall be made until the Company and the Holder
shall agree upon an appropriate determination or a court of competent
jurisdiction shall make a determination by a non-appealable
order.

(y)    Definition of Commitment
Period.    A "Commitment
Period" shall mean each of the following Quarterly
periods (i) November 1, 2003 through January 31, 2004 (the
"First Commitment Period"), (ii) February 1,
2004 through April 30, 2004 (the "Second Commitment
Period"), (iii) May 1, 2004 through July 31, 2004 (the
"Third Commitment Period"), (iv) August 1,
2004 through October 31, 2004 (the "Fourth Commitment
Period), (v) November 1, 2004 through January 31, 2005 (the
"Fifth Commitment Period"), (vi) February 1,
2005 through April 30, 2005 (the "Sixth Commitment
Period") and (vii) May 1, 2005 through July 31, 2005 (the
"Seventh Commitment Period"). The failure to
satisfy the Price Feed Condition for any Commitment Period shall result
in the relevant Warrant Shares exercisability commencing on the
Exercise Date, without acceleration.

5.    Fully Paid
Stock; Taxes.    The Company agrees that the shares of the Class
A Stock represented by each and every certificate for Warrant Shares
delivered on the proper exercise of this Warrant shall, at the time of
such delivery, be validly issued and outstanding, fully paid and
non-assessable, and not subject to preemptive rights, and the Company
will take all such actions as may be necessary to assure that the par
value or stated value, if any, per share of the Class A Stock is at all
times equal to or less than the then Per Share Warrant Price. The
Company further covenants and agrees that it will pay, when due and
payable, any and all federal and state stamp, original issue or similar
taxes that may be payable in respect of the issuance of any Warrant
Shares or certificates therefor. The Holder covenants and agrees that
it shall pay, when due and payable, all of its federal, state and local
income or similar taxes that may be payable in respect of the issuance
of any Warrant Shares or certificates therefor, if any.

6.    Transfer


(a)    Securities Laws.    Neither this
Warrant nor the Warrant Shares issuable upon the exercise hereof have
been registered under the Securities Act of 1933, as amended (the
"Securities Act"), or under any
state securities laws and unless so registered may not be transferred,
sold, pledged, hypothecated or otherwise disposed of unless an
exemption from such registration is available. In the event the Holder
desires to transfer this Warrant or any of the Warrant Shares issued in
accordance with the terms hereof, the Holder must give the Company
prior written notice of such proposed transfer including the name and
address of the proposed transferee, unless such transfer is a transfer
of the Warrant Shares pursuant to an effective registration statement.
Such transfer may be made only either (i) upon publication by the
Securities and Exchange Commission (the
"Commission") of a ruling,
interpretation, opinion or 









"no action letter"
based upon facts presented to said Commission, or (ii) upon receipt by
the Company of an opinion of counsel acceptable to the Company to the
effect that the proposed transfer will not violate the provisions of
the Securities Act, the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or the rules
and regulations promulgated under either such act, or to the effect
that the Warrant or Warrant Shares to be sold or transferred have been
registered under the Securities Act of 1933, as amended, and that there
is in effect a current prospectus meeting the requirements of
Subsection 10(a) of the Securities Act, which is being or will be
delivered to the purchaser or transferee at or prior to the time of
delivery of the certificates evidencing the Warrant or Warrant Shares
to be sold or transferred.

(b)    Swap or
Hedging Transactions.    Without the prior written consent of
the Company, the Holder may not enter into any swap or other hedging
transaction relating to this Warrant, the Warrant Shares (prior to the
issuance thereof), or any interest therein. In no event shall the
restrictions contained in this paragraph apply to any Warrant Shares
that have been issued.

(c)    Transfer.    Without the prior
written consent of the Company, neither this Warrant, nor any interest
herein, may be sold, assigned, transferred, pledged, encumbered or
otherwise disposed of. Any sale, assignment, transfer, pledge,
encumbrance or other disposition of this Warrant attempted contrary to
the provisions of this Warrant, or any levy of execution, attachment or
other process attempted upon the Warrant, shall be null and void and
without effect. The provision of this Section 6(c) shall not be
applicable to the Warrant Shares.

(d)    Legend and Stop Transfer
Orders.    Unless the Warrant Shares have been registered under
the Securities Act or eligible for resale pursuant to Rule 144(k) under
the Securities Act, upon exercise of any part of the Warrant and the
issuance of any of the Warrant Shares, the Company shall instruct its
transfer agent to enter stop transfer orders with respect to such
shares, and all certificates representing Warrant Shares shall bear on
the face thereof substantially the following legend, insofar as is
consistent with Delaware law:

"The
shares of Class A Common Stock represented by this certificate have not
been registered under the Securities Act of 1933, as amended, and may
not be sold, offered for sale, assigned, transferred or otherwise
disposed of unless registered pursuant to the provisions of that Act or
an opinion of counsel to the Company is obtained stating that such
disposition is in compliance with an available exemption from such
registration."

7.    Loss, etc. of
Warrant.    Upon receipt of evidence satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant, and of
indemnity reasonably satisfactory to the Company, if lost, stolen or
destroyed, and upon surrender and cancellation of this Warrant if
mutilated, the Company shall execute and deliver to the Holder a new
Warrant of like date, tenor and denomination.

8.    Warrant Holder Not Shareholder.    Except as
otherwise provided herein, this Warrant does not confer upon the Holder
any right to vote or to consent to or receive notice as a shareholder
of the Company, as such, in respect of any matters whatsoever, or any
other rights or liabilities as a shareholder, prior to the exercise
hereof.

9.    Communication.    No notice or other
communication under this Warrant shall be effective unless the same is
in writing and is sent by overnight courier, delivered in person or
mailed by first-class mail, postage prepaid, addressed to:

(a)    the Company at 135 East 57th
Street, 3rd Floor, New York, New York 10022, Attention:
General Counsel, or such other address as the Company has designated in
writing to the Holder, or

(b)    the Holder at
299 Park Avenue, New York, New York 10171, or such other address as the
Holder has designated in writing to the Company.

10.    Headings.    The headings of this Warrant have
been inserted as a matter of convenience and shall not affect the
construction hereof.








11.    Applicable Law.    This
Warrant shall be governed by and construed in accordance with the law
of the State of New York without giving effect to the principles of
conflict of laws thereof.

12.    Compliance with Other
Instruments.    Company represents and warrants to Holder that
the execution and delivery of this Warrant are not, and the issuance of
the Warrant Shares upon exercise of this Warrant in accordance with the
terms hereof will not be, inconsistent with the Company's charter
or bylaws, do not and will not contravene any law, governmental rule or
regulation, judgment or order applicable to the Company, and do not and
will not conflict with or contravene any provision of, or constitute a
default under, any indenture, mortgage, contract or other instrument of
which the Company is a party or by which it is bound or require the
consent or approval of, the giving of notice to, the registration or
filing with or the taking of any action in respect of or by, any
Federal, state or local government authority or agency or other person,
except for the filing of notices pursuant to federal and state
securities laws, which filings will be effected by the time required
thereby.

13.    Representations and Warranties of the
Initial Holder.    The Initial Holder, by acceptance hereof,
represents and warrants to the Company that:

(a)    Knowledge and Experience.    The
Initial Holder has sufficient knowledge and experience in financial and
business matters to be capable of evaluating the merits and risks of an
unregistered, non-liquid investment such as an investment in the
Company and has evaluated the merits and risks of such an investment.
The Initial Holder understands that the offer and sale of the Warrant
and the Warrant Shares have not been approved or disapproved by the
Commission or any other governmental entity.

(b)    No other Representations or
Warranties.    No representations or warranties have been made
to the Initial Holder by the Company or any director, officer,
employee, agent or affiliate of the Company, other than the
representations of the Company set forth herein, and the decision of
the Initial Holder to acquire this Warrant is based on the information
contained herein and the Initial Holder's own independent
investigation of the Company. The Initial Holder acknowledges and
agrees that the Company may now, or in the future, be in negotiations
with respect to, or enter into, arrangements, agreements or
understandings relating to other business opportunities and that the
Company does not have now, nor will it have at any time after execution
of this Warrant, any obligation to provide the Initial Holder with any
information, other than that which is contained in this Warrant and
that which is disclosed in reports, schedules, forms, registration
statements, proxy statements and other documents filed by the Company
with the Commission.

(c)    Ability to
Withstand Loss of Investment.    The Initial Holder understands
that a total loss of the value of this Warrant is possible. The Initial
Holder acknowledges that it is capable of bearing a complete loss of
the value of this Warrant.

(d)    No
Public Solicitation.    The Initial Holder acknowledges that
neither the Company nor any person or entity acting on its behalf has
offered to sell any of the Warrants or the Warrant Shares to the
Initial Holder by means of any form of general solicitation or
advertising, including without limitation (i) any advertisement,
article, notice or other communication published in any newspaper,
magazine or similar media, or broadcast over television or radio, and
(ii) any seminar or meeting whose attendees have been invited by any
general solicitation or general advertising.

(e)    Accredited Investor
Status.    The Initial Holder is an "accredited
investor" within the meaning of Rule 501 of Regulation D
promulgated under the Securities Act.

(f)    Acquiring for Investment
Purposes.    The Initial Holder is acquiring this Warrant solely
for its own account, for investment purposes only, and not with a view
towards their resale or distribution.

(g)    No Brokers, Finders, etc.    The
Initial Holder has not employed any broker, financial advisor or
finder, or incurred any liability for any brokerage fees, commissions,
finder's or other similar fees or expenses in connection with the
transactions contemplated by this Warrant.

(h)    No Action Taken to Invalidate Private
Placement.    The Initial Holder has not taken any action that
would result in the offering of this Warrant and the Warrant Shares
pursuant to this Warrant being treated as a public offering and not a
valid private offering under the law.








14.    Modification and
Waiver.    This Warrant and any provision hereof may be changed,
waived, discharged or terminated only by an instrument in writing
signed by the Company and the holder of this Warrant.

15.    Binding Effect on Successors.    This Warrant
shall be binding upon any entity succeeding the Company by merger,
consolidation or acquisition of all or substantially all of the
Company's assets, and all of the obligations of the Company
relating to the Warrant Shares issuable upon the exercise of this
Warrant shall survive the exercise and termination of this Warrant and
all of the covenants and agreements of the Company shall inure to the
benefit of the successors and permitted assigns of the holder
hereof.

16.    Cancellation of Existing
Warrant.    This Warrant supercedes and replaces that certain
Amended and Restated Warrant to Purchase Class A Common Stock of
eSpeed, Inc. in favor of the Initial Holder dated as of October 23,
2003, which the Holder exercised for 50,000 shares on March 18, 2004
and the parties agree is of no further force or effect and is hereby
deemed cancelled.

IN WITNESS WHEREOF, the Company has caused
this Amended and Restated Warrant to be signed by a duly authorized
officer as of this 29th day of April, 2004.


		eSPEED, INC.
 (Registrant)





		By: /s/ Howard W. Lutnick

 Name:
Howard W. Lutnick
 Title: Chairman of the Board,
         
 Chief Executive Officer and President




ACCEPTED AND AGREED to:

UBS
AMERICAS INC. (successor by
 merger to UBS USA INC.)

By: /s/ Jane E. Nutson

 Name: Jane E.
Nutson
 Title: Associate/Director









SUBSCRIPTION


The
undersigned,
                                        , pursuant
to the provisions of the foregoing Warrant, hereby agrees to subscribe
for the purchase of
                                                
shares of the Class A Common Stock of eSPEED, INC. covered by said
Warrant, and makes payment therefore in full at the price per share
provided by said
Warrant.




							
	Dated   __________________		Signature   __________________________
	 		Address   __________________________
	 		            __________________________
	





ASSIGNMENT


FOR VALUE RECEIVED
                                         hereby
sells, assigns and transfers unto                      the
foregoing Warrant and all rights evidenced thereby, and does
irrevocably constitute and appoint
                        , attorney, to transfer said
Warrant on the books of eSPEED,
INC.




							
	Dated   __________________		Signature   __________________________
	 		Address   __________________________
	 		            __________________________
	





PARTIAL
ASSIGNMENT


FOR VALUE RECEIVED
                                 hereby assigns and
transfers unto                                     
the right to purchase
                                     shares of the
Class A Common Stock of eSPEED, INC. by the foregoing Warrant, and a
proportionate part of said Warrant and the rights evidenced hereby, and
does irrevocably constitute and appoint
                                , attorney, to transfer
that part of said Warrant on the books of eSPEED,
INC.




							
	Dated   __________________		Signature   __________________________
	 		Address   __________________________
	 		            __________________________