Euronext Lisbon, formerly known as the Lisbon Stock Exchange (Bolsa de Valores de Lisboa), is the main stock exchange in Portugal. It is part of Euronext, a pan-European stock exchange seated in several European cities including Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris.

Euronext Lisbon is a fundamental marketplace for the trading of shares, bonds, and other securities by Portuguese and international companies. It is a vital component of Portugal’s financial infrastructure, playing a key role in capital formation and investment.

As part of the larger Euronext group, Euronext Lisbon benefits from a wide-reaching European network, offering enhanced opportunities for companies and investors alike. Through its commitment to transparency, innovation, and regulatory compliance, Euronext Lisbon continues to support the growth and dynamism of the Portuguese economy.

Contact info

Address: Euronext Lisbon, Av. da Liberdade, n.º 196 – 7º, 1250-147 Lisboa, Portugal

Telephone number: +351 (0)2 10 600 600

Background

Euronext Lisbon’s history dates back to the 18th century, with its formal establishment as a structured market occurring in the 19th century. Over the years, it has gone through several transformations and mergers, significantly expanding its role in the global financial market.

The roots of stock market in Lisbon are found in the Bolsa de Valores de Lisboa (Lisbon Stock Exchange) created in 1769 as the Assembleia dos Homens de Negócio (Assembly of Businessmen) in the Commerce Square in downtown Lisbon.

After the military coup in Portugal in 1974, the stock exchanges in Lisbon and Porto (Portugal’s second-largest city) were closed by the National Salvation Junta. A couple of years later, they were opened again.

In the 1990s, a restructuring of the Lisbon Stock Exchange association and the Porto Derivatives Exchange Association resulted in the formation of the Bolsa de Valores de Lisboa e Porto (BVLP).

By the end of 2001, 65 companies were listed on BVLP-regulated markets. Together, they represented a market capitalization of €96.1 billion.

Modern developments

Euronext Lisbon was established in 2002, as the Bolsa de Valores de Lisboa e Porto (BVLP) was acquired by Euronext. This landmark development served to link it with other major European stock exchanges within the Euronext net work, and aimed to enhance the efficiency of the securities markets, provide greater access to a wider range of investors and issuers, and foster a more integrated European financial landscape.

In 2007, Euronext merged with NYSE to form the NYSE Euronext group. A few years later, Euronext was spun-off to facilitate a transaction where the Intercontinental Exchange acquired NYSE Euronext.

In 2014, Euronext completed an initial public offering and became a publicly traded company. Euronext Lisbon is one of the many fully-owned subsidiaries of the Amsterdam-registered company Europnext N.V.

Current role and functions

Euronext Lisbon plays a crucial role in Portugal’s economy, offering a platform for companies to raise capital by listing their shares or other securities. It facilitates the trading of stocks for listed companies, providing them visibility and access to a broad base of investors, thereby supporting their growth and expansion strategies. For investors, Euronext Lisbon offers a venue to invest in and trade a variety of financial instruments, including equities, bonds, and derivatives, among others.

Listings and trading

Euronext Lisbo offers trading in equities, public bonds, private bonds, participation bonds, warrants, corporate warrants, investment trust units, and exchange traded funds. The selection of derivatives include, among other things, stock index futures, Portuguese stock futures, long-term interest rate futures, and three-month Lisbor futures.

The companies listed on this exchange spans a wide range of sectors, including finance, energy, telecommunications, and consumer goods, making it a comprehensive marketplace for investors.

Settlement is T+2.

Trading hours are 8 a.m. to 4:30 p.m., Monday through Friday.

Indices

• The official index for the exchange is the BVL General index. It is based on all listed shares on the official market.
• Another very important index is the PSI-20, which tracks the performance of the 20 largest and most actively traded stocks on the exchange. The PSI-20 is seen as a benchmark for the Portuguese stock market, reflecting the health and trends of the broader economy.

Technological advancements

Euronext Lisbon has embraced technological advancements to improve trading efficiency and accessibility. The integration into the Euronext platform has enabled it to benefit from state-of-the-art trading systems, providing real-time trading and information services to a global audience. This technology-driven approach has facilitated wider participation in the market, attracting both domestic and international investors.

Regulation and oversight

Euronext Lisbon operates under strict regulatory standards to ensure transparency, fairness, and security in trading activities. It is overseen by the Portuguese Securities Market Commission (CMVM), which is responsible for supervising and regulating securities and other financial markets in Portugal. The CMVM’s role includes protecting investors, ensuring the smooth operation of the markets, and promoting transparent and fair market practices.