Before the ageofdirectdialinternational telephone callsandemails, the bestway of doing businesswastomeet on the floor of the Baltic Exchange and share written notices and talk.
Right now, for example, the bulk of the natural gas traded in the physical market (as opposed to financial contracts traded on the New York Mercantile Exchange) is still handled by "smile and dial" phone brokers at firms such as Prebon Yamane and Amerex.