The Spanish Stock Exchanges
The Spanish stock exchanges offer a variety of financial products and services. There is the Madrid Stock Exchange, IberCLEAR, the FTSE-Latibex Index, and the Ibex New Market Index. Read on to learn more about Spain’s stock exchanges. You’ll also be able to trade in some of Europe’s most popular equities.
IBERCLEAR is a spain stock exchange
IBERCLEAR is a Spanish central securities depository that settles and registers securities for Spanish stock exchanges, including Latibex and the AIAF Fixed Income Market. It uses two technical platforms, the Securities Clearing and Settlement System and the Public Debt Book-Entry Office, to manage the registration, clearing, and settlement systems for Spanish equity and listed corporate debt.
Madrid Stock Exchange
The Bolsa de Madrid is Spain’s largest and most international stock exchange. It trades shares, fixed income securities, convertible bonds, and government and private debt. The exchange is part of the Bolsas y Mercados Espaoles holding company.
The Latibex is the only international stock market in euros that offers the opportunity to trade Latin American securities. This market was created in December 1999 and is regulated by the Spanish securities market regulator. It is operated by the Spanish Exchange BME and is part of the SIX group of companies.
Ibex New Market Index
The IBEX New Market Index is a benchmark for Spanish stocks. The index is composed of 35 companies that have the highest trading volume in Euros over the last six months. Each company must have a free float market capitalization of at least 0.3% of the total market cap in order to qualify. The index is reviewed and adjusted twice a year.
AIAF Fixed-Income Market
The AIAF Fixed-Income Market is a market for fixed-income securities that is administered by the BME. It is a price-driven market, which means that registered market makers have to publish the bid and ask prices as well as the maximum size of a deal. The AIAF market differs from other exchanges in several ways, such as the fact that it is regulated and favors a greater volume of trading. This, in turn, facilitates corporate financing and greater security for investors.
Regulations on takeover bids
Spain’s stock exchange has regulations governing takeover bids. Those undertaking such transactions must file an explanatory prospectus before they can offer their shares. The prospectus must be translated into Spanish or into a language that is common in international finance. The prospectus must also include the price of the offer and valuation reports.