A 95% increase in commodity broking revenues quarter on quarter would be an outstanding achievement for any brokerage, but for a broker the size and age of GFI it is outstanding.

US-based interdealer broker GFI, which turns 20 this year and has been in the energy markets since 1995, saw an 85% increase in commodity revenues in the third quarter of 2006 and a 93% rise in the fourth quarter compared with 2005.

Much of this can be attributed to GFI's acquisition of the North American businesses of

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