What is the Bilbao Stock Exchange
The Bilbao Stock Exchange is one of Spain's four major securities exchanges. Madrid, Barcelona and Valencia are the others. Of the four, Madrid is the country’s largest. Founded in July 1890 and opened for trading in 1891, the Bilbao Stock Exchange, or Bolsa de Bilbao in Spanish, supports the financial, industrial and economic development of the Basque Country. It is a member of Bolsas y Mercados Españoles, an organization designed to streamline Spain's major exchanges. It is also a full member of the International Federation of Stock Exchanges, Federation of European Securities Exchanges, and several other related international organizations.
BREAKING DOWN Bilbao Stock Exchange
The Bilbao Stock Exchange provides market participants with the necessary infrastructure to trade in any of the country’s markets and systems, including by way of the Spanish Stock Exchanges Interconnection System; the Fixed Income and Registered Debt Electronic System; the Traditional or Open Outcry System (Parquet); the secondary market; public debt; the Mercado Alternativo Bursátil (MAB), which is a sub-market of Bolsas y Mercados Españoles (BME), the company that deals with organizational aspects of the country’s exchanges and financial markets; and LATIBEX, the Madrid-based exchange that specializes in Latin American securities trading in Spain.
The exchange has been involved in the development of the financial, industrial and economic activity of Spain since its inception. It has been the channel used to obtain funding to carry out large investment projects, including the construction of shipping companies, shipyards, mining companies and banks. A 1989 reform led to the exchange diversifying its capabilities, which is in line with its history. Many of the exchanges founders were entrepreneurs and representatives of the economic sectors linked to industry, trade and the country’s business. The 1989 reform transformed the institutional framework and modified the stock market’s structure and operating procedures. As part of that transformation, the exchange focused on large investments in infrastructure and computer and communications systems. In addition, it developed a team able to keep the exchange in line with new market requirements.
Bilbao Stock Exchange Services
The Bilbao Stock Exchange has changed with the times, providing more than simply serving as a trading center. The result has been the exchange offering a number of different services to meet its clients needs. In addition to trading, the exchange offers services geared toward complex financial operations, market supervision, information and documentation, issuer services, and services for the financial community at large. It provides member services as well.