Trading hours on the Spanish stock exchange: time slots and operational details

Background and Market Relevance in Spain

The Spanish stock exchange is the central pillar of the Spanish financial system. Although commonly referred to as a single institution, it actually operates under the framework of the SIBE (Spanish Interconnection Stock Market System), a structure that integrates four stock exchanges in the country: Madrid, Valencia, Barcelona, and Bilbao. This coordination system has allowed the centralization of Spanish securities market activity since 1995, the year in which trading systems were unified.

The Madrid exchange is the largest within this framework. Its significance lies in the fact that the well-known IBEX 35 index, which groups the 35 most valuable companies in the national market, is based on it.

Daily Operating Timeframes

The regular trading session on the Spanish stock exchange runs from 9:00 am to 5:30 pm in Central European Summer Time (CEST). This interval applies Monday through Friday without interruption.

Before the official opening, there is an auction period called the opening session, from 8:30 am to 9:00 am. During this phase, pending orders from the previous close along with new buy and sell instructions are processed, thus determining the initial price of the day.

Similarly, after the regular trading session ends, a closing auction phase takes place from 5:30 pm to 5:35 pm. During this period, transactions that did not find a counterparty during the regular session are executed.

Schedule expressed in CEST

Market Closure Calendar

The Spanish stock exchange remains closed on holidays established by the Trading Calendar. For the year 2025, the non-working days are:

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

Additionally, shortened sessions with reduced hours may be declared as communicated by the stock market authority.

Genesis and Institutional History

The institution now known as the Madrid stock exchange was formally established on September 10, 1831, through the publication of its founding law, drafted by the Sevillian jurist Pedro Sainz de Andino. Commercial operations in securities began on October 20 of the same year, with initial trading of securities issued by banking entities, steel companies, and railway companies.

The development of the Spanish stock market was gradual. The Bilbao exchange was founded in 1890, followed by Barcelona in 1915. The most recent addition was Valencia in 1980. The integration of all these into the SIBE system occurred in 1995, while centralized management of these exchanges was transferred to Bolsas y Mercados Españoles (BME) starting in 2001.

The IBEX 35 index was launched on January 14, 1992, functioning as a thermometer of the performance of Spain’s largest-capitalization corporations.

Economic Relevance and Asset Composition

Within the Spanish stock exchange, the country’s leading corporations are concentrated, many of which have significant international projection, especially in Latin American markets. Among the most prominent values are global financial institutions like BBVA and Banco Santander, globally recognized construction companies such as ACS, Ferrovial, and Acciona, as well as Inditex, the largest retail conglomerate in the market.

Time Zone Equivalence Relative to Spanish-speaking Capitals

For those operating from different time zones in Spanish-speaking territories, it is useful to know the correspondence between the operating hours of the Spanish exchange and their localities:

This correspondence facilitates planning for investors located in different regions of the Americas who wish to participate during the Spanish stock exchange hours.

Getting Started with Operations

1. Register on the trading platform
2. Deposit funds into the account
3. Start trading in the market