Bolsa de Madrid (BME)

The stock exchange of Madrid

Serious Information

Trivia

Bolsas y Mercados Españoles (BME) integrates the companies that direct and manage the securities markets and financial systems in Spain. It brings together, under a single activity, decision-taking and coordination unit, the Spanish equity, fixed-income and derivatives markets and their clearing and settlement systems.

Bolsa de Madrid (Madrid Stock Exchange) is the largest and most international of Spain's four regional stock exchanges located in Barcelona, Bilbao, and Valencia

Bolsas y Mercados Españoles (BME) is the company that integrates all the securities markets and financial systems in Spain. The parent group comprises the Madrid, Barcelona, Bilbao and Valencia stock exchanges, MF Mercados Financieros, Iberclear and BME Consulting.

BME is a technically advanced company, widely diversified, financially very sound and has a strong presence in the international markets. The company is managed in such a way as to maximize the return on all major assets, thereby creating a unique group with enormous growth potential.

In 1809 Jose I Bonaparte it decided to create in Spain the first Stock market, in Madrid, but did not get to form a stock market.

The Bolsa de Madrid was officially founded in 1831. During World War I the stock-market of Madrid did not close. In 1929 the collapse of stock-market of New York took place, but Madrid was not affected in immediate form. The beginning of the Spanish Civil War causes its closing in 1936. After the civil war, on the 5th of March of 1940 the doors were open again.

As required by Spanish law, managed and operated by Sociedad Rectora de la Bolsa de Valores de Madrid S.A., a corporation organized under the laws of the Kingdom of Spain. The membership of the Madrid Stock Exchange consists of 41 major financial institutions and 12 established securities dealers. At December 31, 2001, approximately 1477 domestic and foreign companies had equity securities listed on the Madrid Stock Exchange. The total market capitalization of the equity securities listed on the Madrid Stock Exchange at December 31, 2001 was €552.4 billion. From the 1 of January of this 2001 the negotiation of values was made exclusively in euros.

Trading is linked through the electronic Spanish Stock Market Interconnection System (SIBE), which handles more than 90% of transactions; all fixed-income assets are traded through SIBE.
The creation of the BME Ombudsman is envisaged by the new legislation, which establishes the obligation for financial firms to create this service and so respond to increasing calls from investors for greater transparency and protection.

The Ombudsman’s duties will be to answer and solve any consultations and complaints coming from investors as well as promoting the enforcement of the transparency regulations within the financial sector and better protection for the investing community. Decisions taken by the Ombudsman will be binding upon the investment company relevant to the case.

Aware of the relevance of information and legal guarantees which a market needs to offer, Bolsas y Mercados Españoles will offer all members of its markets and integrated systems the possibility of making use of the service as an alternative to their own investor protection services.

Regarding those entities which decide in the future to make use of the investor protection services, the client protection services already in place will act on behalf of the Ombudsman. With regard to the rest of the entities, the other various investor protection solutions will keep their present form and functions.

The new legislation envisages two different types of complaint to wit: that filed with the relevant company, which must be solved by the Ombudsman and that which, having the complaint not been solved within the deadline initially set or having it not been dealt satisfactorily, has to be dealt with by the so called Comisionado de Defensa del Inversor. The filing of an initial complaint is necessary to level a second complaint to the Comisionado.

http://www.bolsasymercados.es Website

Trivia

Madrid is the capital and the largest city in Spain, as well as in the province and the autonomous community of the same name. It is located on the river Manzanares in the center of the country. The population of the city was 3.228 million (July 2005), while the estimated urban area population is 5.078 million. Madrid is home to Real Madrid, the world's most successful football club (according to FIFA), which plays in the Estadio Santiago Bernabéu. Its hometown rival, Atletico de Madrid, is also well supported in the city, and its supporters are called colchoneros. Madrid's contribution to the sport is further noticed by the fact that it hosted the 1982 FIFA World Cup final. Often climate is arid.

In Germany there is a sock exchange for soccer.

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