The stock exchange in Spain begins on 10 September 1831 with the publication of the Law Founding the Madrid Stock Exchange drafted by Pedro Sáinz de Andino. On 20 October 1831, the first trading session was held. The first companies to be listed were banks, railways and steel companies.
In 1893 the Queen Regent Maria Cristina inaugurated the new Madrid Stock Exchange headquarters, situated in the Plaza de la Lealtad, Madrid. Along its long history, the Exchange has played a decisive role in the history of Spain, alternating long booming industrial and economic cycles with others characterised by crises and downturns, but always acting as a true barometer of the country's economic trends.
In 1953, Spain began to open up its economy, producing high growth rates that benefited the stock exchange. The Stabilisation Plan of 1959 caused a considerable rise of the Madrid Stock Exchange that lasted until 1970. In 1974, a new settlement system came into operation and constituted the basis of the bookentry system.
In 1989, the continuous market commenced operations. In 1998, nearly 8 million Spaniards invested in the stock Exchange.
In 2002 Bolsas y Mercados Españoles (BME) Group, the operator of all stock Markets and financial systems in Spain, was constituted.
In 2004, BME became, in the second-ranked stock exchange in the world in terms of investment flows, behind only the New York Stock Exchange. That year new investment flows channelled through the Exchange reached 39.5 billion dollars.
On its 175th anniversary, in 2006, BME attained one of the most important objectives set out in its incorporation as an integrated group of all Spanish markets: its IPO on the stock exchange.
The same year, BME created the MAB market, to provide a response for securities that require special treatment as small caps, SICAVs, venture capital firms and hedge funds.
The Spanish stock exchange also closed 2006 with the best and most outstanding year of its history. The IBEX 35, its benchmark index made up of the 35 most liquid companies listed on the exchange, beat its historic high and broke the barrier of 14,000 points.
In 2015, BME was the 3rd Exchange in the ranking of IPOs a Europe with 7 IPOs in main Market and 16 new companies in MAB, the highest in history.
The stock market continues to be the main actor in its role as a source of financing to companies. Today it trades, on average, more than 4 billion euros per session, and lists more than 3,000 securities, with a capitalisation of nearly 1 trillion euros.
Javier Hernani Burzaco (CEO)
Mr Burzaco serves as CEO at BME since April 2017. Before joining BME, he worked as European Financial Sector consultant at Coopers & Lybrand Brussels. He has also worked as CFO at Norbolsa.
Phone: +34 91 709 5000
Address: Plaza de la Lealtad, 1, 28014 Madrid