When does the Madrid Stock Exchange operate? Full schedule of the Spanish stock exchange

The Madrid Stock Exchange represents Spain’s financial engine, being the most important market for Spanish companies with international relevance. For any investor or trader, understanding the Spanish stock market hours is essential, as this determines when it is possible to execute trades in the most prominent securities of the Iberian market.

Operating Hours: from Opening to Closing

The Spanish stock market hours operate from Monday to Friday with a clear structure:

Schedule in CEST (Central European Summer Time)

The Spanish stock market maintains this schedule consistently during business days, providing market participants with a clear reference for their operations.

Trading Phases: Before, During, and After

Opening Auction: Market Preparation

The pre-session begins at 8:30 am local time, during which orders not executed in the previous session, along with new buy and sell orders, are received. This auction mechanism determines the opening price at 9:00 am, when all accumulated orders are crossed.

Regular Trading: Main Activity

Between 9:00 am and 5:30 pm, the main activity of the Spanish stock market takes place. Most securities transactions are executed during these hours, making it the most dynamic market period.

Closing Auction: Position Closure

After the regular session ends, between 5:30 pm and 5:35 pm, the closing auction occurs, establishing an equilibrium price that allows for the execution of orders that did not find a counterparty during regular hours.

Structure of the Spanish Stock Market

The system coordinating all operations is known as SIBE (Spanish Interconnection Stock Market System), an infrastructure integrating four markets: Madrid, Barcelona, Bilbao, and Valencia. Madrid is unquestionably the most important, hosting the IBEX 35, the index comprising the 35 largest companies by market capitalization.

Historical Background

The Madrid Stock Exchange was established on September 10, 1831, becoming Spain’s first stock exchange. Initially, banks, steel companies, and railway firms were the first traded securities. Later, Bilbao (1890), Barcelona (1915), and Valencia (1980) were created. In 1995, all were integrated under SIBE, and since 2001, Bolsas y Mercados Españoles (BME) manages the system.

The IBEX 35 was launched on January 14, 1992, establishing itself as the barometer of the Spanish market.

Why Spanish Stock Market Hours Matter

Knowing when the market operates is essential for several reasons:

Concentration of Leading Companies: The Spanish stock exchange hosts corporate giants like BBVA, Banco Santander, Inditex, ACS, Ferrovial, and Acciona. These companies have a global presence, with strong projections in Latin America.

Synchronization with Other Markets: The Spanish stock market hours align with other European markets, enabling coordinated real-time trading.

Investment Opportunities: Different time zones offer various trading windows. Latin American investors can access the Spanish market in their mornings or afternoons, depending on their location.

Time Correspondence with Latin American Capitals

For Hispanic American investors, the following table shows the opening and closing times of the Spanish stock market in their respective cities:

Non-Active Days: Closing Calendar

The Madrid Stock Exchange publishes its trading calendar annually. For 2025, the closing days are:

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

Occasionally, there may be reduced trading days with adjusted hours.

Next Steps to Operate

If you wish to participate in the Spanish stock market:

1. Register on a regulated investment platform
2. Deposit the necessary funds
3. Start trading Spanish market securities