Ownership Submission
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 *
LUTNICK HOWARD W
  2. Issuer Name and Ticker or Trading Symbol
BGC Partners, Inc. [BGCP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman & Co-CEO
(Last)
(First)
(Middle)
C/O BGC PARTNERS, INC., 499 PARK AVENUE
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)
04/03/2008
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 (1) 04/01/2008   A(2)(3)   7,742,325 A (4) (2) (3) 8,682,998 (2) (3) D  
Class A Common Stock, par value $0.01 per share 04/01/2008   A(2)(3)(5)   5,732,159 A (4) (2) (3) (5) 5,732,159 (2) (3) (5) (6) I See footnotes (6) (7)
Class A Common Stock, par value $0.01 per share 04/01/2008   A(8)   9,618,764 A (8) 11,357,807 (8) (9) I See footnotes (7) (9)
Class A Common Stock, par value $0.01 per share 03/12/2008   G(10) V 8,334 D $ 0 11,349,473 (11) I See footnotes (7) (11)

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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
Class B Common Stock, par value $0.01 per share (8) (12) 04/01/2008   A(8)(12)   12,350,307     (8)(12)   (8)(12) Class A Common Stock, par value $0.01 per share (8) (12) 12,350,307 (8) (12) (8) (12) 31,848,107 (8) (12) (13) I See foot-notes (7) (13)
BGC Holdings Exchangeable Limited Partnership Interests (8) (12) (14) 04/01/2008   A(8)(12)(14)   67,069,530 (8) (12) (14)     (8)(12)(14)   (8)(12)(14) Class A or Class B Common Stock, par value $0.01 per share (8) (12) (14) 67,069,530 (8) (12) (14) (8) (12) (14) 67,069,530 (8) (12) (14) I See foot-notes (7) (8)
BGC Holdings Exchangeable Limited Partnership Interests (8) (12) (14) (15) (16) (17) 04/01/2008   D(8)(12)(14)(15)(16)(17)     19,894,124   (8)(12)(14)(15)(16)(17)   (8)(12)(14)(15)(16)(17) Class A or Class B Common Stock, par value $0.01 per share (8) (12) (14) (15) (16) (17) 19,894,124 (8) (12) (14) (15) (16) (17) (8) (15) (16) (17) 47,175,406 (8) (12) (14) (15) (16) (17) (18) I See foot-notes (7) (18)
BGC Holdings Exchangeable Limited Partnership Interests (8) (12) (14) (15) (16) (17) 04/01/2008   D(2)(3)(5)(8)(12)(14)(15)(16)(17)     13,474,484 (4)   (2)(3)(5)(8)(12)(14)(15)(16)(17)   (2)(3)(5)(8)(12)(14)(15)(16)(17) Class A or Class B Common Stock, par value $0.01 per share (2) (3) (5) (8) (12) (14) (15) (16) (17) 13,474,484 (2) (3) (5) (8) (12) (14) (15) (16) (17) (2) (3) (5) (8) (12) (14) (15) (16) (17) 33,700,922 (2) (3) (5) (8) (12) (14) (15) (16) (17) (19) I See foot-notes (7) (19)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LUTNICK HOWARD W
C/O BGC PARTNERS, INC., 499 PARK AVENUE
NEW YORK, NY 10022
  X   X   Chairman & Co-CEO  

Signatures

 /s/ Howard W. Lutnick   04/24/2008
**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) Refiled to amend and restate in its entirety the Form 4 originally filed by the reporting person on April 3, 2008.
(2) 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 partnership units in connection with the Separation and Merger (as such terms are defined below). 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 the 12-, 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, ( Continued to footnote 3 )
(3) 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, to the extent applicable.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. ("eSpeed") which was renamed BGC Partners, Inc. The Separation was completed on March 31, 2008, and the Merger was completed on April 1, 2008.
(4) Change in form of ownership exempt under Rule 16a-13 of the Securities Exchange Act of 1934.
(5) Deferred stock distributions of shares of Class A Common Stock receivable by (i) CF Group Management, Inc. ("CFGM"), (ii) KBCR Management Partners, LLC ("KBCR"), (iii) the reporting person's spouse, and (iv) a trust for the benefit of descendants of the reporting person, of which the reporting person's spouse is one of two trustees and the reporting person has limited powers to remove and replace such trustees, from CFLP in respect of their respective CFLP partnership units in connection with the Separation and Merger.
(6) The 5,732,159 shares consist of (i) 2,050,197 shares of Class A Common Stock represented by deferred stock distributions receivable by CFGM, (ii) 2,048,000 shares of Class A Common Stock represented by deferred stock distributions receivable by KBCR, (iii) 23,780 shares of Class A Common Stock represented by deferred stock distributions receivable by the reporting person's spouse, and (iv) 1,610,182 shares of Class A Common Stock receivable by a trust for the benefit of descendants of the reporting person, of which the reporting person's spouse is one of two trustees and the reporting person has limited powers to remove and replace such trustees, from CFLP in respect of their respective CFLP limited partnership units in connection with the Separation and Merger.
(7) CFGM is the Managing General Partner of CFLP and the reporting person is the President and sole stockholder of CFGM. KBCR is a non-managing General Partner of CFLP and the reporting person is the managing member of KBCR. The reporting person disclaims beneficial ownership of all such shares in excess of his pecuniary interest, if any, and this report shall not be deemed an admission that he is the beneficial owner of, or has pecuniary interest in, any such excess shares for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose.
(8) Pursuant to the Merger, eSpeed issued to CFLP: (i) 9,618,764 shares of Class A Common Stock, (ii) 12,350,307 shares of Class B Common Stock and (iii) 67,069,530 rights to acquire shares of Class B Common Stock and/or Class A Common Stock pursuant to the exchange of Exchangeable Limited Partnership Interests of BGC Holdings, L.P. ("BGC Holdings").
(9) The 11,357,807 shares of Class A Common Stock consist of (i) 388,812 shares of Class A Common Stock held by CFGM, (ii) 10,789,344 shares of Class A Common Stock held by CFLP, (iii) 175,589 shares of Class A Common Stock held by a trust for the benefit of the descendants of the reporting person, of which the reporting person's spouse is one of two trustees and the reporting person has limited powers to remove and replace such trustees, and (iv) 4,062 shares of Class A Common Stock held in the reporting person's 401(k) account. The 11,357,807 shares held indirectly by the reporting person consist solely of shares of Class A Common Stock. Previously, the reporting person had aggregated shares of Class A Common Stock and Class B Common Stock held by CFLP and CFGM in Column 5 of Table I.
(10) The 8,334 shares of Class A Common Stock were gifted by CFLP.
(11) The 11,349,473 shares of Class A Common Stock consist of (i) 388,812 shares of Class A Common Stock held by CFGM, (ii) 10,781,010 shares of Class A Common Stock held by CFLP, (iii) 175,589 shares of Class A Common Stock held by a trust for the benefit of the descendants of the reporting person, of which the reporting person's spouse is one of two trustees and the reporting person has limited powers to remove and replace such trustees, and (iv) 4,062 shares of Class A Common Stock held in the reporting person's 401(k) account. The 11,349,473 shares held indirectly by the reporting person consist solely of shares of Class A Common Stock. Previously, the reporting person had aggregated shares of Class A Common Stock and Class B Common Stock held by CFLP and CFGM in Column 5 of Table I.
(12) The shares of Class B Common Stock are convertible at any time on a one-for-one basis (subject to adjustment) into shares of Class A Common Stock.
(13) The 31,848,107 shares held indirectly by the reporting person consist of 48,745 shares of Class B Common Stock held by CFGM and 31,799,362 shares of Class B Common Stock held by CFLP.
(14) After the first anniversary of the completion of the Separation, the exchange rights with respect to CFLP's BGC Holdings Exchangeable Limited Partnership Interests will be exercisable at any time for shares of Class B Common Stock (or, at CFLP's option or if there are no additional authorized but unissued shares of Class B Common Stock, shares of Class A Common Stock) on a one-for-one basis (subject to adjustment). CFLP will, however, be able to exercise its exchange rights with respect to up to 20 million of its BGC Holdings Exchangeable Limited Partnership Interests for shares of Class A Common Stock prior to the first anniversary of the completion of the Separation in connection with a broad-based public offering, including all the shares of Class A Common Stock received upon such exchange, underwritten by a nationally recognized investment banking firm.
(15) Deferred stock distributions to CFLP partners in respect of their CFLP partnership units in connection with the Separation and Merger. To the extent that CFLP does not have sufficient shares of Class A Common Stock, CFLP will make the distributions from its shares of Class B Common Stock, which will become shares of Class A Common Stock in the hands of the distributee partners. This report assumes that, to satisfy its deferred stock distribution obligations, CFLP has used 33,368,608 (the 19,894,124 shares in Table II, line 3, column 5 plus the 13,474,484 shares in Table II, line 4, column 5) of the shares of Class A or Class B Common Stock receivable upon exchange by it of a portion of the 67,069,530 BGC Holdings Exchangeable Limited Partnership Interests; (Continued to footnote 15 )
(16) however, CFLP is under no obligation to satisfy its deferred stock distribution obligations with shares receivable upon exchange by it of a portion of its BGC Holdings Exchangeable Limited Partnership Interests. Certain CFLP partners, who provide services to the BGC Businesses and became founding partners of BGC Holdings in connection with the Separation and Merger, will receive a fixed number of shares of Class A Common Stock, with one-third of such shares receivable on each of the first, second and third anniversaries of the completion of the Merger. Other CFLP partners, who did not become founding partners of BGC Holdings in connection with the Separation and Merger, will receive a fixed number of shares of Class A Common Stock on the ninth anniversary of the completion of the Merger, subject to acceleration in certain circumstances as follows: ( Continued to footnote 16 )
(17) (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 the 12-, 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 partner continues to provide services to CFLP and has not breached his or her CFLP partner obligations, including the non-competition and non-solicitation covenants contained in the limited partnership agreement of CFLP, to the extent applicable.
(18) The 47,175,406 shares held indirectly by the reporting person refer to BGC Holdings Exchangeable Limited Partnership Interests held by CFLP.
(19) The 33,700,922 shares held indirectly by the reporting person refer to BGC Holdings Exchangeable Limited Partnership Interests held by CFLP.

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