<SUBMISSION>
<ACCESSION-NUMBER>0001024896-03-000002
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20030814
<FILING-DATE>20030818
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>CARTER LARRY R
<CIK>0001198043
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-28191
<FILM-NUMBER>03854084
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>CISCO SYSTEMS INC
<CITY>SAN JOSE
<STATE>CA
<ZIP>95134-1706
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>ESPEED INC
<CIK>0001094831
<ASSIGNED-SIC>7389
<IRS-NUMBER>134063515
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>135 E. 57TH STREET
<STREET2>135 E. 57TH STREET
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
<PHONE>2129385000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>135 E. 57TH STREET
<STREET2>135 E. 57TH STREET
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
FORM 4                                                            OMB APPROVAL
[ ] Check this                                                    OMB Number:
box if no longer UNITED STATES SECURITIES AND EXCHANGE COMMISSION 3235-0287
subject to                    Washington, D.C. 20549              Estimated
Section 16. Form STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF  average burden
4 or Form 5                         SECURITIES                    hours per
obligations may                                                   response... 0.5
continue. See
Instruction
1(b).
                      Filed pursuant to Section 16(a) of the
                 Securities Exchange Act of 1934 or Section 30(h)
                      of the Investment Company Act of 1940


1. Name and Address of Reporting  2. Issuer Name and Ticker  5. Relationship of
Person   *                        or Trading Symbol          Reporting Person(s) to
CARTER LARRY R                    ESPEED INC [ ESPD ]        Issuer (Check all
                                                             applicable)
                                                             __X__
                                                             Director          _____
(Last)      (First)      (Middle) 3. Date of Earliest        10% Owner
C/O ESPEED, INC., 135 EAST 57TH   Transaction (MM/DD/YYYY)   _____ Officer (give title
STREET                                    8/14/2003          below)  _____ Other
                                                             (specify below)
            (Street)              4. If Amendment, Date      6. Individual or
NEW YORK, NY 10022                Original Filed             Joint/Group Filing (Check
  (City)     (State)     (Zip)    (MM/DD/YYYY)               Applicable Line)
                                                             _X _ Form filed by One
                                                             Reporting Person
                                                             ___ Form filed by More
                                                             than One Reporting Person


                    Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of         2. Trans. Date 2A.       3. Trans.  4. Securities      5. Amount of    6. Ownership    7. Nature of
Security                          Deemed    Code       Acquired (A) or    Securities      Form: Direct    Indirect
(Instr. 3)                        Execution (Instr. 8) Disposed of (D)    Beneficially    (D) or Indirect Beneficial
                                  Date, if             (Instr. 3, 4 and   Owned Following (I) (Instr. 4)  Ownership
                                  any                  5)                 Reported                        (Instr. 4)
                                                                          Transaction(s)
                                                                          (Instr. 3 and
                                                              (A)         4)
                                                              or
                                             Code   V  Amount (D)  Price
Class A Common
Stock, par value     8/14/2003                M        20000   A  $22.00        0               D
$0.01 per share
Class A Common
Stock, par value     8/14/2003                M        10000   A  $17.00        0               D
$0.01 per share
Class A Common
Stock, par value     8/14/2003                M        30000   A  $5.10         0               D
$0.01 per share
Class A Common
Stock, par value     8/14/2003                M        3333    A  $12.28        0               D
$0.01 per share
Class A Common
Stock, par value     8/14/2003                S        63333   D  $23.00        0               D
$0.01 per share


                                  Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of      2.         3. Trans. Date 3A.       4. Trans.     5. Number of      6. Date Exercisable and 7. Title and Amount of    8. Price   9. Number of   10.        11. Nature
Derivate         Conversion                Deemed    Code          Derivative        Expiration Date         Securities Underlying     of         derivative     Ownership  of
Security         or                        Execution (Instr. 8)    Securities                                Derivative Security       Derivative Securities     Form of    Indirect
(Instr. 3)       Exercise                  Date, if                Acquired (A) or                           (Instr. 3 and 4)          Security   Beneficially   Derivative Beneficial
                 Price of                  any                     Disposed of (D)                                                     (Instr. 5) Owned          Security:  Ownership
                 Derivative                                        (Instr. 3, 4 and                                                               Following      Direct (D) (Instr. 4)
                 Security                                          5)                                                                             Reported       or
                                                                                                                                                  Transaction(s) Indirect
                                                                                     Date        Expiration               Amount or               (Instr. 4)     (I)
                                                                                     Exercisable Date        Title        Number of                              (Instr. 4)
                                                      Code    V      (A)      (D)                                         Shares
Non-Qualified     $22.00      8/14/2003                M                     20000    6/9/2001   12/9/2009      Common       20000         (1)          0            D
Stock Options                                                                                                   Stock
Non-Qualified     $17.00      8/14/2003                M                     10000   4/26/2002   10/25/2010     Common       10000         (1)          0            D
Stock Options                                                                                                   Stock
Non-Qualified      $5.10      8/14/2003                M                     30000   4/19/2003   10/18/2011     Common       30000         (1)          0            D
Stock Options                                                                                                   Stock
Non-Qualified     $12.28      8/14/2003                M                     3333    4/23/2003   10/22/2012     Common       3333          (1)        6667           D
Stock Options                                                                                                   Stock



Explanation of Responses:
(1)  These options were granted pursuant to the Long-Term Incentive Plan.



Reporting Owners
Reporting Owner Name / Address          Relationships
                               Director 10% Owner Officer Other
CARTER LARRY R
C/O ESPEED, INC.                  X
135 EAST 57TH STREET
NEW YORK, NY 10022



Signatures
Larry R. Carter                      8/18/2003
  **  Signature of Reporting Person    Date



Reminder: Report on a separate line for each class of securities beneficially owned
directly or indirectly.
*       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).
Note:   File three copies of this Form, one of which must be manually signed. If
        space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB control number.
</TEXT>
</DOCUMENT>
</SUBMISSION>