BM&FBovespa SA (BVMF3), the operator of Latin America’s biggest securities exchange, headed toward a 20- month high on record equity trading.

Shares rallied 1.8 percent to 12.78 reais at 12:28 p.m. in Sao Paulo, the highest level on a closing basis since Jan. 10, 2011. They earlier advanced as much as 2.3 percent.

Stock trading at the Brazilian exchange reached 1.5 million transactions Sept. 14, the highest on record, according to an e- mailed statement sent that day.

BM&FBovespa has risen 28 percent this year through Sept. 14, while the benchmark index has added 9.4 percent during the same period.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net