ESPD Espeed (MM)

Paul Saltzman, Chief Operating Officer of eSpeed, Inc. (NASDAQ: ESPD), a leading developer of electronic marketplaces and trading technology for the global capital markets, has been appointed Secretary and Treasurer for The Institute for Financial Markets (IFM) where he already sits on the board of trustees. The IFM, an affiliate of the Futures Industry Association (FIA), develops products and services directed to industry professionals, market users, journalists, academics, and those who shape and implement public policy for the financial services industry. The IFM strives to promote professional knowledge, judgment, and integrity by providing research, educational resources and training to anyone with an interest in the workings of the financial markets. The IFM is located in Washington, DC and also publishes a financial journal quarterly, Review of Financial Markets. Peter F. Borish, Chairman of The Institute for Financial Markets said, �We are pleased that Paul has accepted this position as Secretary and Treasurer. He has been an integral member of the board of trustees and I am pleased to work closely with him as an officer.� Paul Saltzman said, �As a long time member of The Institute for Financial Markets, I am delighted to be a part of such an exceptional organization, and to be able to serve the financial marketplace in this way is very rewarding. I look forward to my tenure as Secretary and Treasurer of the IFM, and in our continued efforts to provide education and research to everyone with an interest in keeping the financial marketplace efficient and effective.� About eSpeed, Inc. eSpeed, Inc. (NASDAQ: ESPD) is a leader in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. eSpeed operates multiple buyer, multiple seller real-time electronic marketplaces for the global capital markets, including the world's largest government bond markets and other fixed income and foreign exchange marketplaces. eSpeed's suite of marketplace tools provides end-to-end transaction solutions for the purchase and sale of financial products over eSpeed's global private network or via the Internet. eSpeed's neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading at the world's largest fixed income and foreign exchange trading firms and major exchanges. To learn more, please visit www.espeed.com. Forward-Looking Statements by eSpeed, Inc. The information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Our actual results and the timing of certain events may differ significantly from the results discussed in the forward-looking statements. Factors that might cause or contribute to such a discrepancy include, but are not limited to, our relationship with Cantor Fitzgerald and its affiliates, the costs and expenses of developing, maintaining and protecting our intellectual property, including judgments or settlements paid or received and their related costs, the possibility of future losses and negative cash flow from operations, the effect of market conditions, including trading volume and volatility, our pricing strategy and that of our competitors, our ability to develop new products and services, to enter new markets, to secure and maintain market position, to enter into marketing and strategic alliances, to hire new personnel, to expand the use of our electronic system, to induce clients to use our marketplaces and services and to effectively manage any growth we achieve, and other factors that are discussed under "Risk Factors" in eSpeed�s Annual Report on Form 10-K filed with the Securities and Exchange Commission. We believe that all forward-looking statements are based upon reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, you should not place undue reliance on these statements. Forward-looking statements speak only as of the date when made, and we undertake no obligation to update these statements in light of subsequent events or developments. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in forward-looking statements.