form8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
___________
FORM
8-K
___________
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported):
April
10, 2008
___________
BROADPOINT
SECURITIES GROUP,
INC.
(Exact
name of registrant as specified in its charter)
___________
New
York
(State
or other jurisdiction of incorporation)
0-14140
(Commission
File Number)
22-2655804
(IRS
Employer Identification No.)
One
Penn Plaza
New
York, New York
(Address
of Principal Executive Offices)
10119
(Zip
Code)
(212) 273-7100
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
____________
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
1.01. Entry
into a Material Definitive Agreement.
Amendment
to Fully Disclosed Clearing Agreement
On
April 10, 2008, Broadpoint
Securities, Inc., a wholly-owned broker-dealer subsidiary of the Registrant
(“Broadpoint Securities”), entered into an Amendment to Fully Disclosed Clearing
Agreement (the “Ridge Amendment”) with Ridge Clearing & Outsourcing
Solutions, Inc. (“Ridge”) amending the Fully Disclosed Clearing Agreement, dated
January 11, 2008, by and between Broadpoint Securities and Ridge (the
“Agreement”). Pursuant to the Ridge Amendment, the parties agreed to
(i) delete any exclusivity requirements, (ii) allow for the termination of
the
Agreement by Broadpoint Securities, without cause, upon at least 30 days prior
notice and (iii) delete provisions related to fees associated with termination
of the Agreement. The foregoing description of the Ridge Amendment is not
complete and is qualified in its entirety by reference to the Ridge Amendment,
a
copy of which is filed as Exhibit 10.1 hereto and incorporated herein by
reference.
Item
1.02. Termination
of a Material Definitive Agreement.
On
April 10, 2008, Broadpoint Capital,
Inc., a wholly-owned broker-dealer subsidiary of the Registrant (“Broadpoint
Capital”), entered into a Termination Agreement (the “Termination Agreement”)
with Ridge terminating the Fully Disclosed Clearing Agreement (the “Broadpoint
Capital Ridge Clearing Agreement”), dated January 11, 2008, by and between
Broadpoint Capital and Ridge, whereby Ridge had agreed to provide certain
execution and clearing services, on a fully disclosed basis, to Broadpoint
Capital and its customers. No termination penalties were incurred by
either party, and the parties released each other from any claims or liabilities
arising out of or relating to the Broadpoint Capital Ridge Clearing Agreement.
The foregoing description of the Termination Agreement is not complete and
is
qualified in its entirety by reference to the Termination Agreement, a copy
of
which is filed as Exhibit 10.2 hereto and incorporated herein by
reference.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
The
following exhibit is furnished as
part of this Current Report on Form 8-K:
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10.1
– Amendment to
Fully Disclosed Clearing Agreement entered into by Broadpoint Securities,
Inc. and Ridge Clearing & Outsourcing Solutions, Inc.,
dated
April 10, 2008.
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10.2
– Termination Agreement entered into by Broadpoint Capital, Inc. and
Ridge
Clearing & Outsourcing Solutions, Inc., dated April 10,
2008.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BROADPOINT
SECURITIES
GROUP, INC.
By:
/s/ROBERT
I.
TURNER
Name: Robert
I. Turner
Title:
Chief Financial Officer
Dated:
April
15, 2008