Madrid Stocks Exchange
The Madrid Stocks Exchange is the largest securities market in Spain and is also known as Bolsa de Madrid. The history of the stocks exchange market in Spain began in 1809 when Jose I Bonaparte attempted to in vain to establish the country`s first stocks exchange. This failure was attributed to Madrid not being a major business hub at the time. In 1831, a law was enacted creating the Madrid Stocks Exchange with the listed companies mainly being railway companies, steel companies and banks. The Madrid Stocks Exchange remained active all through World War II but was temporarily closed during the Spanish Civil War between 1936 and 1940. The exchange was later transformed after Spain was incorporated into the European Monetary System. The Exchange went further and adopted the all-electronic trading system for fixed income securities. The Madrid Securities Exchange began trading in Euros from 1999 and is currently regulated by the Spanish Stocks Exchange Commission. The Madrid Stocks Exchange has a market cap of $942 billion. The Madrid Stocks Exchange uses the Madrid Stocks Exchange General Index (IGBM) to monitor the country’s stocks market including the performance of stocks loans. In addition, the exchange has another tool known as IBEX 35 that represents the topmost liquid stocks traded at the exchange.