BM&FBovespa is ending open outcry trading and shifting transactions for most contracts to an electronic system, Bloomberg reports. The largest stock and futures exchange in Latin America is concluding 20 years of derivatives pit trading due to a push by brokerages into electronic trading.

Floor trading at the exchange accounted for 2.7% of all derivatives trading in the first six months of 2009, down from 27% in 2007 and 100% in 1999. Trading on all major stock and derivatives exchanges across the globe, excluding markets in the U.S. and Germany, is done entirely electronically.

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