History of Valencia Stock Exchange

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The Valencia Stock Exchange, in addition to its national and international presence, is the stock exchange for the Valencian Community, and also serves the regions linked to the south of the Iberian Peninsula; this explains why its primary aim is to promote the economic development of this part of Spain.

The Valencia Stock Exchange focuses on SMEs, the largest segment of businesses in the Valencian Community, and on the most significant productive sectors such as textiles, citrus fruits, furniture and toys, to name but a few, providing them with advice and ongoing support regarding the listing of their securities on the Stock Exchange, on BME Growth or on BME Scaleup.

From Its Origins to the Present Day

In 1283, the “Consulat del Mar” was established (a precursor to commercial mediation through its ship’s brokers and interpreters). Furthermore, the “Llibre del Consulat del Mar” is Europe’s first maritime code, a handwritten copy of which, dating from the early 15th century, is preserved in the Municipal Archives of Valencia.

During the 15th and 16th centuries, the “Taules de Canvis” developed in Spain, with the aim of centralising all kinds of economic and financial transactions. On 20 October 1405, by Royal Privilege of King Martin the Humane, the Consell established a “Taula de Canvis” for Valencia.

Between 1482 and 1498, the Lonja de Valencia emerged, where the “Corredors d’orella” operated, bringing buyers and sellers together. In the 17th and 18th centuries, the commercial activity promoted by the “corredors” intensified, and during the 18th and 19th centuries, securities and negotiable instruments appeared.

In 1860, the possibility of establishing stock exchanges in Spain was opened up with the publication of the Royal Order of the Ministry of Public Works on 31 August. When the application submitted by the Valencian market was rejected, it began operating in 1863 under the name Bolsa Libre de Valores (of which trading records from the first year of operation and forward trading ledgers from the late 19th century are preserved).

The drive to establish the Valencia Stock Exchange was addressed by the Royal Decree of 30 April 1964 on Companies, Investment Funds and Stock Exchanges, which did not recommend the creation of new stock exchanges, but did consider it “advisable to promote new local securities markets that could serve to finance companies with a strong local presence”: On 6 June 1969, the Regulations on Official Stock Exchanges were approved, and on 5 May 1970, the creation of the Official Stock Exchange of Valencia was authorised. From that point onwards, attempts to achieve conversion into a stock exchange followed one after another: in 1977, the Trade Union Council submitted a report to the Commission for the Study of the Securities Market; in 1978, on the initiative of the Chamber of Commerce, another report was drawn up, ‘On the Conversion of the Official Trade Exchange of Valencia into a Stock Exchange’.

Finally, on 29 August 1980, by Royal Decree, the Spanish Government established the Official Stock Exchange of Valencia, which began trading on 1 October of that same year. In 1989, with the entry into force of Law 24/88 on the Securities Market, the Official Stock Exchange of Valencia changed its name to the Valencia Stock Exchange.

In 2002, the Valencia Stock Exchange became part of the Bolsas y Mercados (BME) group, the operator of all stock markets and financial systems in Spain.

In 2020, Bolsas y Mercados Españoles, the group of which the Valencia Stock Exchange is a part, was acquired by SIX Group, the operator of the Swiss market infrastructure, following a successful takeover bid that culminated in the delisting of BME and gave rise to the third-largest stock exchange group in Europe.