Trading hours
Spanish shares trade 08:00 to 16:30 UK; ESP35 CFDs typically trade 07:00 to 19:00 UK, Monday to Friday, while MEFF futures run until 21:00 UK.
| When | UK time | New York time | Note |
|---|---|---|---|
| Daily open | 07:00 | 02:00 ET | MEFF IBEX 35 futures open at 08:00 Madrid time; most CFDs open then too. |
| Opening auction | 07:30 to 08:00 | 02:30 to 03:00 ET | Orders build before the share session opens. |
| Madrid share session | 08:00 to 16:30 | 03:00 to 11:30 ET | 09:00 to 17:30 Madrid time. |
| Closing auction | 16:30 to about 16:35 | 11:30 to 11:35 ET | Sets the official closing level of the IBEX 35. |
| Daily CFD close | 19:00, typically | 14:00 ET | Many brokers stop at 20:00 Madrid time. MEFF futures trade on to 22:00 Madrid time (21:00 UK); check your broker's hours. |
| Busiest hours | 08:00 to 10:00, and 13:30 to 15:30 | 03:00 to 05:00 and 08:30 to 10:30 ET | Typically the Madrid open, then US data and the US open. |
France, Germany, Spain and the UK change their clocks on the same days (the last Sunday of March and the last Sunday of October), so European exchange times are always one hour ahead of UK time and the UK times on this page stay the same all year. New York changes on different dates (in 2026 the US changed on 1 November, the UK on 25 October; in 2027 the US changes on 14 March and the UK on 28 March). In those gap weeks US data lands an hour earlier in UK time, and a broker whose server clock follows New York can show this market opening an hour earlier or later on your platform even though the market itself has not moved. New York times in the tables are for when New York is 5 hours behind London.
What is IBEX 35 (ESP35)?
The IBEX 35 tracks 35 of the most traded companies on the Spanish stock exchange, run by BME (Bolsas y Mercados Españoles, part of SIX). Banks, utilities, telecoms, retail and construction groups carry most of the weight, so the index is very sensitive to bank shares and interest rates.
Outside the Madrid share session, ESP35 at your broker follows IBEX 35 futures traded on MEFF, BME's derivatives market. MEFF extended its electronic trading of IBEX 35 futures to 22:00 Madrid time in June 2025, but many CFD brokers still stop at 20:00 Madrid time.
The trading sessions
Futures and CFDs trade before the shares open; moves often follow other European futures.
The main session; the first hour is typically the most active.
US data at 13:30 UK and the US open at 14:30 UK often move the index.
Thinner trade after the Madrid close, usually following US indices.
Contract facts
One point is a move of 1.0 in the index level (for example from 15,000.0 to 15,001.0).
Lot sizes differ between brokers. A common setup is 1 lot worth 1 euro per point. Check the contract specification in your platform.
On a CFD where 1 lot is worth 1 euro per point, a 20 point move on 1 lot is worth 20 euros. On one MEFF IBEX 35 futures contract a 1 point move is worth 10 euros.
IBEX 35 futures on MEFF: 10 euros per index point. Mini IBEX 35 futures: 1 euro per point. Electronic trading runs 08:00 to 22:00 Madrid time.
How far it usually moves
Varies with conditions; check the Average daily range indicator on WickSpeak for the current figure. We do not publish a fixed number because we could not verify one from an official source.
What moves IBEX 35 (ESP35)
Large Spanish banks carry a big weight, so their moves often decide the index's direction.
Higher or lower euro area rates change bank profits and borrowing costs across the index.
Inflation, jobs and growth figures for Spain shape the outlook for domestic firms.
Several members earn a lot in Latin America, so news there and currency moves can matter.
Power and energy groups react to energy prices and regulation.
US data and the US open often set the tone in the afternoon.
Scheduled events to watch
Eight meetings a year; rate changes and guidance move euro area shares and the euro.
One of the first euro area inflation readings each month.
Guides expectations for ECB rates and bank shares.
A monthly read on the Spanish economy.
Hotter or cooler inflation changes what traders expect from US interest rates, which moves every risk market.
What it tends to move with
Usually moves the same way, though the IBEX 35 often reacts more to bank news.
Bank heavy, so it tends to rise and fall with euro area bank stocks and bond yields.
European indices tend to move together on big risk days.
Tips for trading IBEX 35 (ESP35)
Mark the early range
Mark the 07:00 to 08:00 UK range. A 5 minute close outside it after 08:00 UK is a breakout idea; a close back inside proves it wrong.
Watch the banks
If the big Spanish banks are rising and the index is not, wait. A long idea needs the index to close above the morning high; a close back below the open proves it wrong.
Mind the evening
After 16:35 UK liquidity thins. Avoid chasing evening breakouts; a move that reverses within two 15 minute candles proves the breakout wrong.
Use the previous close
The previous 16:30 UK close often acts as support or resistance. A rejection there is a reversal idea; a 15 minute close through it proves it wrong.
Connect a cTrader account once and ESP35 appears on WickSpeak at your broker's own prices. Key levels show the previous day high and low, pivots, the open and average daily range levels with their distance in points. Every indicator writes a plain-English reading on the live candle, including what would prove it wrong, and a Playbook play can alert you, draw a trade plan, paper trade or, only on a play where you switched live trading on, place a trade inside the guardrails you set.
Related markets
Sources: meff.es, meff.es, bolsasymercados.es, pepperstone.com, ecb.europa.eu. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What time does the IBEX 35 open in the UK?
Spanish shares open at 08:00 UK (09:00 Madrid), after an opening auction from 07:30 UK. Most ESP35 CFDs start trading at 07:00 UK.
What time does the IBEX 35 close?
The share session ends at 16:30 UK with a closing auction to about 16:35 UK. ESP35 CFDs typically stop at 19:00 UK, though MEFF futures now trade until 21:00 UK.
Why do some brokers show ESP35 closing at different times?
MEFF extended IBEX 35 futures trading to 22:00 Madrid time in 2025, but many CFD brokers kept a 20:00 Madrid close. Check your broker's trading hours.
How much is an IBEX 35 futures point worth?
A full IBEX 35 futures contract on MEFF is worth 10 euros per point and a Mini IBEX 35 is 1 euro per point. CFD sizes depend on your broker.
What is the best time to trade ESP35?
Typically 08:00 to 10:00 UK after the Madrid open, and 13:30 to 15:30 UK when US data and the US open arrive.