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Regulation Bolsa de Madrid
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Law 24 of July 28 1988 of the Securities Market  and  RD 4/2015,  Octuber, which approves the consolidated Securities Market Law, are the key texts regarding the structure and functioning of the Spanish securities market.

The internal regulations of the Bolsa de Madrid are set out in Circulars and Operating Instructions which are approved and published by the Governing Body of the Bolsa.

The Circulars are decisions and regulations of a general nature, which are adopted by the Governing Body regarding trading and other main functions: listing, financial transactions, information, supervision and monitoring, etc.

The Operating Instructions are decisions and rules of a specific nature, adopted by the Governing Body, to organise the activities of its different departments and achieve adequate co-ordination between them, as well as the activities of market members. The Instructions are approved by the Director General or the corresponding head of each area. They are disseminated in the best way to achieve maximum knowledge among the people and entities affected which, in most cases, means publication in the Bolsa's Trading Bulletin.


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