Current models of signal transduction from the antigen receptors on B and T cells still resemble equations with several unknown elements. Data from recent knockout experiments in cell lines and mice contradict the assumption that Src-family kinase and tyrosine kinases of the Syk/Zap-70 family are the transducer elements that set signaling from these receptors in motion. Using a functional definition of signaling elements, we discuss the current knowledge of signaling events from the BCR and suggest the existence of an as-yet-unknown BCR transducer complex.