Understanding the Madrid Stock Exchange: Complete Guide on Opening and Closing Hours

Historical Background and Structure of the Spanish Market

The Madrid Stock Exchange represents the main trading platform in Spain and functions as the nerve center of national business activity. Its creation dates back to September 10, 1831, when the Law for the Creation of the Madrid Stock Exchange was enacted, drafted by the Sevillian jurist Pedro Sainz de Andino. Commercial operations began on October 20 of the same year, involving banking institutions, steel companies, and railway companies.

Over the following centuries, Spain strengthened its stock market infrastructure: Bilbao incorporated its exchange in 1890, Barcelona did so in 1915, and finally Valencia joined the system in 1980. These four markets were unified under the SIBE (Spanish Interconnection System) starting in 1995. In 2001, the management of these markets was transferred to Bolsas y Mercados Españoles (BME). The IBEX 35 index was subsequently launched on January 14, 1992, grouping the 35 companies with the highest market capitalization in Spain.

Operating Hours: Madrid Stock Exchange Opening Schedule

The Spanish stock market maintains a trading calendar from Monday to Friday, with Saturdays and Sundays closed to the public. The following table details the full schedule:

Schedule expressed in CEST (Central European Summer Time)

Trading Periods: Market Opening and Closing

Opening Phase: The Initial Auction

Before the start of the regular session, a period known as the opening auction takes place, running from 8:30 am to 9:00 am local time. During this interval, the system collects all unexecuted buy and sell orders from the previous session, as well as new instructions entered during this auction period. The matching of all these orders determines the opening price at which the market will commence its regular operations.

Regular Session: Main Trading Hours

The regular trading session at the Madrid Stock Exchange begins at 9:00 am local time and extends until 5:30 pm. This is the most active period, where investors, funds, and institutional participants trade Spanish and international securities.

Closing Phase: The Final Auction

After the conclusion of the regular trading session, the closing auction is activated between 5:30 pm and 5:35 pm. During this period, the market establishes a equilibrium price through which orders that did not find a counterparty during the regular session are executed.

Why is understanding the Madrid Stock Exchange opening important?

The Madrid Stock Exchange concentrates the main Spanish corporations with international projection. It hosts globally significant financial entities such as BBVA and Banco Santander, major construction firms like ACS, Ferrovial, and Acciona, as well as the country’s largest retail operator, Inditex. Knowing these schedules is essential for those wishing to participate in operations involving the most representative assets of the Spanish economy.

Calendar of non-operational days for 2025

The Madrid Stock Exchange closes on the following dates:

• Wednesday, January 1
• Friday, April 18
• Monday, April 21
• Thursday, May 1
• Thursday, December 25
• Friday, December 26

Additionally, on certain dates, the market may operate with reduced half-day hours.

Time Conversion: Correspondence in Spanish-speaking Cities

For investors located in different regions, here is the correspondence between Madrid Stock Exchange hours and the main capitals of Latin America:

Getting Started

1. Register on your investment platform
2. Deposit funds
3. Start trading