When does the Madrid Stock Exchange trade? Complete guide to hours and operations

The Madrid Stock Exchange operates from Monday to Friday with a well-defined trading schedule that every investor should know. If you are considering trading in the Spanish markets, understanding when the Madrid Stock Exchange opens and closes is essential to execute your trades smoothly.

Why is it crucial to master the Madrid Stock Exchange schedule?

Before delving into technical details, it is important to understand that the Madrid Stock Exchange concentrates Spain’s most significant business activity. The largest-capitalization corporations in the country — from banking giants like BBVA and Banco Santander to international construction firms like ACS and Ferrovial, or the retailer Inditex — are listed on this market. Moreover, the Madrid Stock Exchange serves as the basis for the IBEX 35 index, which groups the 35 companies with the highest market value in Spain. Many of these organizations have significant global reach, particularly in Latin American economies.

Operating hours: opening and closing of the Madrid Stock Exchange

The regular trading session runs from 9:00 am to 5:30 pm (local time CEST), Monday through Friday. Outside these hours, the Madrid Stock Exchange does not conduct regular trading.

Schedule expressed in CEST (Central European Summer Time)

Pre-market and after-market sessions

In addition to the standard hours, there are two complementary phases in the Madrid Stock Exchange’s trading dynamics:

Pre-market opening auction (pre-market): Between 8:30 am and 9:00 am, the initial auction period takes place. During this time, pending orders from the previous session are combined with new orders placed during this window. The crossing of all these orders determines the opening price for the day.

After-market closing auction (after-market): From 5:30 pm to 5:35 pm, the closing auction occurs, where a balance price is established to execute orders that did not find counterparts during regular trading.

Historical background of the Madrid Stock Exchange

The origin of the Madrid Stock Exchange dates back to September 10, 1831, when its founding law was enacted, drafted by legal expert Pedro Sainz de Andino. Commercial operations began on October 20 of the same year, with banks, steel companies, and railway firms as the first traded assets.

Over the subsequent decades, the Spanish stock market ecosystem was formed: in 1890, the Bilbao Stock Exchange was established; in 1915, Barcelona’s; and later, in 1980, Valencia’s. These four stock exchanges were integrated under the SIBE (Spanish Interconnection System) from 1995, a mechanism that coordinates their activity as a single integrated network. In 2001, Bolsas y Mercados Españoles (BME) took over the management of the entire system.

The IBEX 35 was established on January 14, 1992, and is considered the main thermometer of the Spanish stock market, grouping its 35 most valuable companies.

Inactivity calendar of the Madrid Stock Exchange

The Madrid Stock Exchange officially publishes its non-trading days through its Trading Calendar. For 2025, the scheduled holidays are:

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

There may also be days with reduced sessions, where trading hours are shortened compared to the standard.

Time zone equivalents in Latin American cities

For operators located in Spanish-speaking territories, it is useful to know how the Madrid Stock Exchange schedule aligns with their time zones:

Getting started: first steps to begin trading

1. Register: Open your account on an authorized platform
2. Funds: Deposit capital into your account
3. Trading: Start executing your trades on the Madrid Stock Exchange