(; Madrid Stock Exchange) is the largest and most international of Spain's four regional

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

s (the others are located in

Barcelona Barcelona ( ; ; ) is a city on the northeastern coast of Spain. It is the capital and largest city of the autonomous community of Catalonia, as well as the second-most populous municipality of Spain. With a population of 1.6 million within c ...

Valencia Valencia ( , ), formally València (), is the capital of the Province of Valencia, province and Autonomous communities of Spain, autonomous community of Valencian Community, the same name in Spain. It is located on the banks of the Turia (r ...

, and

Bilbao Bilbao is a city in northern Spain, the largest city in the Provinces of Spain, province of Biscay and in the Basque Country (greater region), Basque Country as a whole. It is also the largest city proper in northern Spain. Bilbao is the List o ...

) that trade shares and

convertible bond In finance, a convertible bond, convertible note, or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in ...

s and

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pr ...

securities, and both government and private-sector debt. is owned by .

Structure and operations

The reorganisation of Spain's financial market under the national umbrella of the Spanish Stock Market includes the ''bolsas'', the derivatives markets, and fixed-income markets. Trading is linked through the electronic Spanish Stock Market Interconnection System (SIBE), which handles more than 90% of transactions; all fixed-income assets are traded through SIBE. The Madrid Stock Exchange General Index (IGBM) is the exchange's principal index and represents the construction, financial services, communications, consumer, capital/intermediate goods,

energy Energy () is the physical quantity, quantitative physical property, property that is transferred to a physical body, body or to a physical system, recognizable in the performance of Work (thermodynamics), work and in the form of heat and l ...

, and market services sectors. The

IBEX 35 The IBEX 35 (IBerian IndEX) is the benchmark stock market index of the Bolsa de Madrid, Spain's principal stock exchange. Initiated in 1992, the index is administered and calculated by Sociedad de Bolsas, a subsidiary of Bolsas y Mercados Espa� ...

Index is a capitalization-weighted index comprising the 35 most liquid Spanish stocks traded in the continuous market, and is 's benchmark. also offers the FTSE-Latibex Index, a European market for

Latin America Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...

n stocks. The Ibex New Market Index, for emerging companies, was offered from 2000 to 2007. Settlement is T + 3. Trading on SIBE is conducted from 9 a.m. to 5:30 p.m.; open outcry from 10a.m. to 11:30 a.m., both Monday through Friday

History

The was officially founded in 1831. As required by Spanish law, it is managed and operated by the ''Sociedad Rectora de la Bolsa de Valores de Madrid S.A.,'' a corporation organized under the laws of Spain. The membership of the Madrid Stock Exchange consists of 41 major financial institutions and 12 established securities dealers. At December 31, 2001, approximately 1,477 domestic and foreign companies had their equity securities listed on the Madrid Stock Exchange. The total market capitalization of the equity securities listed on the Madrid Stock Exchange in May, 2007 was

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1,276.26 billion.

Building

The Bolsa continues to occupy its traditional home, a nineteenth-century building, the Palace of la Bolsa de Madrid. Despite the setting, the method of trading has changed. In 1993, the Bolsa de Madrid switched to all-

electronic trading Electronic trading, sometimes called e-trading, is the buying and selling of stocks, bonds, foreign currencies, financial derivatives, cryptocurrencies, and other financial instruments online. This is typically done using electronic trading plat ...

for fixed-income securities. There is also a base at Las Rozas.

References

External links

Official website
{{authority control Financial services companies established in 1831 Economy of Spain Economy of Madrid Stock exchanges in Europe 1831 establishments in Spain Stock exchanges in Spain

Structure and operations

History

Building

See also

References

External links