SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Mast Credit Opportunities I Master Fund LTD (Last) (First) (Middle) C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 (Street) BOSTON MA 02116 (City) (State) (Zip)	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)
	3. Date of Earliest Transaction (Month/Day/Year) 06/27/2008
	4. If Amendment, Date of 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

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								7,058,824	D(1)
Series B Mandatory Redeemable Pref'd Stk, $0.01 par value	06/27/2008		P		1,000,000	A	(2)	1,000,000	D(1)

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 Securities Underlying Derivative Security (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: 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
Warrant (right to buy)	$3	06/27/2008		P		1		06/27/2008	06/27/2012	Common Stock	1,000,000	(2)	1	D(1)

1. Name and Address of Reporting Person* Mast Credit Opportunities I Master Fund LTD (Last) (First) (Middle) C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Mast Capital Management LLC (Last) (First) (Middle) 535 BOYLSTON STREET, SUITE 401 (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Madison Christopher B (Last) (First) (Middle) C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Steinberg David J. (Last) (First) (Middle) C/O MAST CAPITAL MANAGEMENT LLC 535 BOYLSTON STREET, SUITE 401 (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

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, 1,000,000 shares of Series B Mandatory Redeemable Preferred Stock of the Issuer, and one warrant to purchase 1,000,000 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.

2. The Fund purchased 1,000,000 shares of Series B Mandatory Redeemable Preferred Stock of the Issuer and one warrant to purchase 1,000,000 shares of Common Stock of the Issuer for an aggregate purchase price of $25,000,000. No per share or per warrant price was allocated to the securities.

Remarks:

	/s/ Mast Credit Opportunities I Master Fund Limited by Christopher B. Madison	06/30/2008
	/s/ Mast Capital Management LLC by Christopher B. Madison	06/30/2008
	/s/ Christopher B. Madison	06/30/2008
	/s/ David J. Steinberg	06/30/2008
	** 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).
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