DEFINITION of 'Madrid Stock Exchange (MAD) .MA'
The largest securities market in Spain, also known as the Bolsa de Madrid. In 1809, Jose I Bonaparte attempted to establish Spain's first stock exchange in Madrid but it failed because Madrid was not a major business center at the time. 1831 saw the enactment of the law creating the Madrid Stock Exchange with securities of banks, railways and iron and steel companies being the first traded.
BREAKING DOWN 'Madrid Stock Exchange (MAD) .MA'
The Exchange remained open during WWI, but closed during the Spanish Civil War from 1936 through early 1940. The Spanish Stock Exchange was transformed in 1988 with Spain's incorporation into the European Monetary System. In 1993, the Madrid Stock Exchange switched to all-electronic trading for fixed-income securities. In 1999 Spain's securities markets began trading in Euros. Its regulatory body is the Spanish Stock Exchange Commission.