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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1. Name and Address of Reporting Person * Mast Credit Opportunities I Master Fund LTD   2. Issuer Name and Ticker or Trading Symbol BROADPOINT SECURITIES GROUP, INC. [BPSG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O MAST CAPITAL MANAGEMENT LLC, 535 BOYLSTON STREET, SUITE 401 3. Date of Earliest Transaction (Month/Day/Year) 03/04/2008 (Street) BOSTON, MA 02116 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ 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 Common Stock, $0.01 par value per share 03/04/2008   P   7,058,824 A $ 1.7 7,058,824 D (1)

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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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Mast Credit Opportunities I Master Fund LTD C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 BOSTON, MA 02116		X
Madison Christopher B C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 BOSTON, MA 02116		X
Mast Capital Management LLC 535 BOYLSTON STREET, SUITE 401 BOSTON, MA 02116		X
Steinberg David J. C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 BOSTON, MA 02116		X

Signatures

/s/ Mast Credit Opportunities I Master Fund Limited by Christopher B. Madison		03/06/2008
**Signature of Reporting Person		Date
/s/ Christopher B. Madison		03/06/2008
**Signature of Reporting Person		Date
/s/ Mast Capital Management LLC by Christopher B. Madison		03/06/2008
**Signature of Reporting Person		Date
/s/ David J. Steinberg		03/06/2008
**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)	Mast Credit Opportunities I Master Fund Limited (the "Fund") is the direct owner of 7,058,824 shares of Common Stock of the Issuer. Mast Capital Management LLC is the investment adviser to the Fund, and Christopher B. Madison and David J. Steinberg are the managers of Mast Capital Management LLC. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.

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