Jumping the fences

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The success, and even the survival, of interdealer brokers such as BGC has come as a surprise to some. "Ten years ago, most people thought we would be extinct by now," says Lee Amaitis, the New York-based broker's chairman and chief executive. "But brokers are back in vogue."

Part of the reason is that the major brokerage firms have evolved with the times. Two development trends were expected to kill off the interdealer brokers - the movement of products from over-the-counter markets to excha