Schedule of operations: when the Spanish stock market opens and closes

When Does the Madrid Stock Exchange Operate? Trading Hours and Sessions

The Spanish stock market operates under an integrated system known as SIBE (Sistema de Interconexión Bursátil Español), which manages the activity of four trading venues: Madrid, Barcelona, Valencia, and Bilbao. The Madrid Stock Exchange is the central hub of this ecosystem, concentrating most of the country’s business activity. Understanding when these markets operate is essential for any investor wishing to participate fully in the most relevant Spanish securities, especially those comprising the IBEX 35 index.

Madrid Stock Exchange Trading Hours: Full Trading Cycle

The Spanish market conducts its activity from Monday to Friday according to the following schedule (CEST hours):

Regular Trading Session:

• Opening Auction: 8:30 am to 9:00 am
• Ordinary Trading: 9:00 am to 5:30 pm
• Closing Auction: 5:30 pm to 5:35 pm

There are no operations on Saturdays and Sundays. This structure repeats every business day of the year, with exceptions on holidays such as January 1, Good Friday (April 18 in 2025), Labor Day (May 1), and Christmas holidays.

When Does the Trading Session Start?

The Spanish stock market closes at 5:30 pm local time, marking the end of the daily cycle. Conversely, the session begins at 9:00 am when the opening auction concludes. This interval between 9:00 am and 5:30 pm is when most transactions between institutional and retail investors are executed. Orders that do not find a counterparty during this period may remain pending for the closing auction, which occurs between 5:30 pm and 5:35 pm.

Historical Context: From Foundation to Modern Integration

The Madrid Stock Exchange was officially established on September 10, 1831, by decree, with jurist Pedro Sainz de Andino drafting its legal framework. The first negotiations began on October 20 of the same year, led by banking entities, steel companies, and railway firms. Madrid remained the only Spanish stock exchange for decades until Bilbao was inaugurated in 1890 and Barcelona in 1915. The Valencia Stock Exchange, the most recent, started operations in 1980. The real transformation came with the integration of the four venues under SIBE in 1995, followed by its management being taken over by Bolsas y Mercados Españoles (BME) in 2001. The IBEX 35 index, which groups the 35 largest-cap companies in the market, debuted on January 14, 1992.

Strategic Importance of Knowing the Madrid Stock Exchange Schedule

Almost all major Spanish corporations with international reach operate on the Madrid exchange. Here, global financial giants like BBVA and Banco Santander are listed, along with construction giants such as ACS, Ferrovial, and Acciona, as well as Inditex, the world leader in fashion retail. These companies have strong projections toward Latin American and European markets, so movements in the Madrid Stock Exchange influence transnational financial operations. Knowing the Spanish market’s closing time and full schedule is essential to synchronize investment strategies with other markets across the continent.

Pre-market and Post-market Sessions: Opening and Closing Auctions

The opening auction (8:30 am to 9:00 am) functions as a pre-market session where unexecuted orders from the previous day are processed along with new instructions issued during the auction period. The system calculates an equilibrium price that sets the start of the regular session. Similarly, the closing auction (5:30 pm to 5:35 pm) allows executing orders that did not find a counterparty during regular trading, determining a settlement price for the day.

Time Equivalents for Investors in Latin America

For those operating from Spanish-speaking territories, it is practical to know how the Madrid Stock Exchange schedule translates to their local time zones:

Calendar of Breaks and Non-Operation Days

Beyond weekend closures, the Madrid Stock Exchange suspends operations on national holidays and special days published in its official Trading Calendar. For 2025, these dates include New Year’s Day, Good Friday, Easter Monday, May holidays, and the Christmas period. Occasionally, there may be half-day sessions with compressed hours.

Getting Started with Investing in the Spanish Market

For those wishing to begin investing:

1. Register with an authorized platform or intermediary
2. Deposit initial funds
3. Execute trades within the established hours