Royal Exchange
The Royal Exchange was conceived by Sir Thomas Gresham, a wealthy merchant and chief of the foreign intelligent service. On his European travels he had been impressed with the 'bourse' (a centre for commerce where merchants and traders could meet) in Antwerp. He set about raising funds and serving compulsory purchase orders on the tenants around Cornhill to create a bourse for London. The Exchange was opened in 1570 by Elizabeth I who declared that it should be known as The Royal Exchange. The structure was destroyed in the Great Fire of London in 1666, and the structure which replaced it was also consumed by fire in 1838. In 1844 the third Royal Exchange was opened by Queen Victoria, using the same words her ancestor, Elizabeth had spoken 'It is my royal will and pleasure that this building be hereafter called The Royal Exchange'. The building ceased to be used for commerce in 1939, then being used as offices. In the 1980s and '90s, the Exchange was occupied by the LIFFE (London International Financial Futures and Options Exchange) whose traders with their brightly coloured blazers were to be seen yelling on the trading floor and recuperating in the local champagne bars afterwards. In 2002 the Royal Exchange reopened as a shopping venue with luxury shops like Hermès, Tiffany & Co., Louis Vuitton, Penhaligons and Gucci. The restaurants and cafés allow traders to meet much as they would have done in Thomas Gresham's day.
To the right of the building is 'The Old Lady of Threadneedle Street', as The Bank of England is known. Please click the thumbnail photo below to view the full screen Royal Exchange virtual tour.
