Börse Madrid

Auszug aus den Börsenusancen

Bitte beachten Sie, dass die angeführten Börsenusancen nur einen Auszug darstellen und sich ändern können. Die vollständigen Börsenusancen liegen direkt bei der Börse auf. Jegliche Haftung unsererseits im Zusammenhang mit den angeführten Börsenusancen ist ausgeschlossen.
 

Allgemeine Informationen
Börsenname Madrid Stock Exchange
Börsensitzung 9:00 Uhr bis 17:30 Uhr Ortszeit
Versammlungsart Parkettbörse (Präsenzbörse)
Börsenart geregelte Finanzbörse
Kursnotiz Stück- und Prozentnotiz
Börsenwährung Euro
Limitarten Betrag
Bestens
Mögliche Limitzusätze -
Mögliche Gültigkeiten bis max. 90 Tage
Valuta Schlusstag + 2 Werktage

Börsenfeiertage

An folgenden Tagen findet kein Börsenhandel statt. Bitte beachten Sie, dass sich manche Feiertage vom Datum her verschieben können.
 

Datum Feiertag
1. Jänner New Year's Day
6. Jänner Epiphany
30. März Daylight Savings Begins
18. April Good Friday
21. April Easter Monday
1. Mai Labour Day
15. August Assumption Day
26. Oktober Daylight Savings Ends
8. Dezember Immaculate Conception Day
24. Dezember Christmas Eve
25. Dezember Christmas Day
26. Dezember St. Stephen's Day
31. Dezember New Year's Eve

Bitte beachten Sie auch die Orderrichtlinien!

MARKET:
Bolsa de Madrid

(Madrid Stock Exchange)
Plaza de la Lealtad 1
28014 Madrid, Spain
Telephone: 34 91 589 2600
Fax: 34 91 531 2290

HOURS:
Continuous Mkt: 9:00am-5:30pm
Floor trading: 10:00am-12:00pm

Mercado Continuo Espanol
Sociedad de Bolsas
(Spanish Continuous Market)
Alfonso XI,6,28014
Madrid, Spain
Telephone: 34 91 589 2415
Fax: 34 91 589 2442

HOURS:
Pre-opening trading 8:30-9:00am
Trading: 9:00am-5:30pm Monday to Friday

TRADING SYSTEM:
The Spanish Continuous Market is based on the Interconnected Spanish Stock Exchange System (SIBE). Buy and sell orders are sorted according to price and time of entry for matching and automatic execution. Orders are entered for trading in the market between 9:30am and 10:00am. The system generates an opening price based on all orders entered since the previous close. At 10:00am the market opens and orders are matched according to price and time of entry until the close. SIBE is an order-driven market with real time information and immediate dissemination of trading data. SIBE allows the four Spanish stock markets to drive their orders through terminals connected to the mainframe.
Traditional open outcry trading also takes place on the floor of the four exchanges. Prices are determined by brokers making bids and offers by open outcry. Brokers proposing a deal must state the type of security, the quantity, the conditions, and the price. The buying or selling broker is bound to accept the deal firmly if another broker meets the bid or offer.
A new trading rule, called "fixing", began on July 1, 1998. The fixing will increase the turnover by volume of some stocks from the Continuous Market that currently have no significant trades during the day. In order to acheive this, the bid and ask orders are concentrated at particular hours. There will be a first fixing at 12:00 noon and a second one at 4:00pm. At each time, price and volumes will be assigned.

SETTLEMENT & TRANSFER:
Settlement takes place 3 days after the transaction (T+3), which was amended from T+5 in February, 1997. The settlement system is managed exclusively by the Clearing & Settlement Service (SCL), which acts as a central registry for the book-entry system. The settlement system is a computerized system which is quick and efficient.
Clearing and depository organizations:
SCL
C/Pedro Texeira, 8
28020 Madrid
Tel: 34 1 555 03 32
fax: 34 1 556 70 86

Central de Anotaciones
C/Alcaca 50
28014 Madrid
Tel: 34 1 338 60 51-54
Fax: 34 1 338 577 78

TYPES OF SECURITIES:
Ordinary share, preference shares, unit-trust shares, warrants, bonds, convertible debentures, treasury bills,and commercial paper are traded on the Exchange.

LISTING REQUIREMENTS:
When a company makes a public offering it must be announced in the official stock exchange bulletin and major financial newspapers. The company must also provide a prospectus which must be registered with the National Stock Market Commission.

REPORTING REQUIREMENTS:
Listed companies must report financial information on a quarterly basis, including a balance sheet, operating accounts, and a profit and loss statement

COMMISSION ON SECURITY SALES:
Commissions collected by brokers as the result of the sale of shares is a matter of negotiation between broker and client.

TAX IMPLICATIONS:
Dividends and interest are subject to a 25% withholding tax. This rate may be reduced for non-residents by double-taxation treaties. Spanish legislation provides for capital gains taxes on investors from countries that do not have a double taxation agreement, although in practice this is seldom levied.

IMPLICATIONS FOR FOREIGN INVESTORS:
In general foreign investment in Spanish Securities is unrestricted provided they do not exceed Esp 500 million. Investments do not require prior administrative approval unless the foreign investor is a resident in one of the countries included in the Ministry of Finance's official list of tax havens. However the company must have its annual management report, balance sheet and profit and loss account audited in conformity with Spanish Commercial Law.

INDICES:
The MSE General Index comprises 106 stocks and represents more than 92% of total market capitalization. The IBEX-35 Index is the official Index of the Continuous Market and comprises 35 of the most liquid stocks traded on the SIBE electronic trading system.

GENERAL INFORMATION:
The Madrid Stock Exchange was founded in 1831. Since then exchanges have been established in Barcelona, Bilbao, and Valencia. All trading was floor trading until the Mercado Continuo was launched on April 24, 1989. Stocks previously traded on the 4 physical Spanish exchanges are gradually being incorporated into this system, at which time they cease to be traded on the physical exchange.