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Since 1997, when the MEGA BOLSA Trading System was implemented, BOVESPA had kept the most liquid stocks and options trading simultaneously on the floor and electronic trading platforms. Gradually, there was a migration of trades to the electronic platform, as showed in the chart bellow:
In recent times, only eight stocks and options were being traded on the floor and the movement towards the electronic trading from both the brokers and investors side was growing. Most brokers have decided to concentrate their traders on the trading desks instead of the open outcry. Investors have increasingly embraced the direct access tolls available for both individuals and institutionals.
The HOME BROKER service has been available to individual investors since 1999, allowing them to send orders through the brokerage house websites to BOVESPA’s electronic order book. Similar Direct Market Access mechanisms are also available to institutional investors.
The migration to the electronic environment permitted an unprecedented growth: the average number of trades per day, which stood at 10,000 in 1996 (before MEGA BOLSA introduction), stands at 60,000 trades nowadays, surpassing eventually the mark of 100,000 transactions.
BOVESPA will transform its trading floor - that for more than a decade was the main image of the Brazilian Capital Market - into an educational gateway for visits, exhibitions and learning foruns.
