Auction Room was the heart of Bolsa Oficial de Café. There was the scenario for its main reason d’être: coffee negotiation mediated by correctors.

In peak of its working, tradings marked the rhythm in Praça de Santos: trains arrived from Sao Paulo with great coffee tradesmen just in time for beginning of trading.

Within trading, only Official Brokers were allowed. These Bolsa Brokers couldn’t be attorney from any specific company. For that reason, many brokerage offices had their own “Bolsa broker”. They were titled directly by State after compliance of several bureaucratic requirements and payment of fiancé in cash. Some old brokers said that this fiancé was equal to a property amount.

Not only those directly involved in trading went toward to Bolsa de Café, but everyone who wanted to follow the possible market orientation named by some of them as ‘frog’.

salao-do-pregao-destaque

One type of brokerage modality in Praça de Santos was term coffee sale agreement.

Different from "Available” – available for delivery – coffees sold in trading expected a future delivery in predetermined months. As trading was concluded, the average amount of coffee sold in the day was fixed in blackboard and business was formalized in Cash Settlement. Buyer made a deposit based on price fixed in that period; however, in case market floated until delivery of this coffee, this amount ought to be updated, resulting in deposit or subtraction of difference by buyer. This was Cash Settlement function. Cash Settlement ‘created’ other modality named Direct Delivery. Similar to Bolsa agreement, this modality happened at the same time to this institution. Its difference was on confidence of dealer word: without a body which supervised market fluctuations, coffee would be paid only in delivery date by fixed amount in the moment of purchase. Some brokers attributed to this modality one of reasons to decrease interest in Bolsa trading.