What time does the Madrid Stock Exchange operate? Complete guide on trading hours and operations

▶ Understanding the Spanish Stock Market System: The Importance of the Madrid Stock Exchange

Before delving into specific schedules, it is essential to understand that the Madrid Stock Exchange does not operate in isolation. In Spain, the SIBE (Spanish Interconnection Stock Market System) functions, an infrastructure that integrates four stock exchanges: Madrid, Valencia, Barcelona, and Bilbao. The Madrid institution is the most representative of the Spanish market, hosting the country’s leading companies and serving as the basis for calculating the prestigious IBEX 35 index.

Understanding when the stock exchange opens and closes is crucial for any investor who wishes to trade the most relevant assets of the Spanish economy without time restrictions.

▶ Daily Operations: When Trading Starts and Ends

The regular trading session of the Madrid Stock Exchange begins at 9:00 am (local time CEST) from Monday to Friday. Conversely, regular trading ends at 5:30 pm (local time CEST).

These hours remain consistent throughout the workweek, allowing both domestic and international investors to participate in buying and selling Spanish securities within these time frames.

▶ Full Schedule: Trading Phases at the Madrid Stock Exchange

The trading day is structured into different phases beyond the regular trading:

All times are expressed in CEST (Central European Summer Time)

▶ The Auctions: Pre- and Post-Session Mechanisms

Before the start of the regular session, the opening auction is conducted between 8:30 am and 9:00 am. During this phase, pending orders from the previous day as well as those introduced during the auction period are processed. The matching of all these operations determines the initial price at which the session will commence.

Similarly, after the closing of the regular trading, the closing auction occurs (5:30 pm to 5:35 pm), establishing a equilibrium price that allows executing some orders that did not find a counterparty during the regular session.

▶ Origins and Evolution of the Madrid Stock Exchange

The Madrid Stock Exchange was established on September 10, 1831, through the Law of Creation of the Madrid Stock Exchange, drafted by the Sevillian jurist Pedro Sainz de Andino. Commercial operations began on October 20 of the same year, with banks, steel companies, and railway firms as the first listed entities.

The system expanded later: 1890 marked the creation of the Bilbao stock exchange, followed by Barcelona in 1915. The most recent addition was the Valencia stock exchange in 1980. All of them were unified under the SIBE starting in 1995, and since 2001, their management has been handled by Bolsas y Mercados Españoles (BME).

The IBEX 35 index, which groups the 35 companies with the highest market capitalization in Spain, was launched on January 14, 1992, and is calculated based on the values traded on the Madrid market.

▶ Economic Relevance: Which Companies Operate on the Madrid Stock Exchange

The Madrid stock exchange hosts a top-tier business ecosystem. Global financial entities such as BBVA and Banco Santander are listed here, as well as internationally prominent construction firms like ACS, Ferrovial, and Acciona. Likewise, Inditex, the world’s largest textile distributor, operates in this market.

Most of these companies have significant penetration into Latin American markets, making the Madrid Stock Exchange a benchmark for the Spanish-speaking economy.

▶ Suspension Calendar: Days Without Stock Market Activity in 2025

The Madrid Stock Exchange officially publishes its trading calendar. For 2025, trading is suspended on the following dates:

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

Occasionally, days with reduced sessions may be scheduled, meaning shorter trading hours.

▶ Time Zone Equivalents: When the Market Opens and Closes According to Your Time Zone

For investors located in Spanish-speaking territories, it is useful to know the correspondence between the Madrid market hours and local time zones:

This information facilitates coordination for operations among investors in different Latin American time zones.

▶ Getting Started: First Steps to Participate in the Market

To begin trading:

1. Register on an authorized trading platform
2. Deposit funds into your trading account
3. Start trading on Madrid Stock Exchange assets