History

The history of the Baltic Exchange spans more than 250 years and traces its origins back to a humble coffee house - the traditional meeting place of merchants and sea captains - in the City of London.

London grain futures 1744 coffee house

Timeline

1744

The Virginia and Maryland coffee house in Threadneedle Street changes its name to Virginia and Baltick. This reflects the business of the merchants and shipowners who regularly gather there.

1810

The Virginia and Baltick Coffee House moves to Antwerp Tavern

1823

To combat "wild gambling" in the market and establish some regulation, a committee of senior coffee house regulars is formed. Rules are devised and an admission procedure developed. A private meeting room is established, to which admission is strictly controlled. This is the start of the modern Baltic market.

1857

The Baltic Company Limited is formed to buy the lease of South Sea House, Threadneedle Street. New rules and a committee of 30 is introduced.

1900

The London Shipping Exchange becomes part of the Baltic Exchange.

1903

The Baltic moves to a new purpose built exchange in St Mary Axe.

1929

The growth of the air industry sees the growth of the first air charter party.

1985

The Baltic Freight Index is launched - the first in a series of freight market indices produced by the Baltic

1992

A terrorist bomb destroys the Baltic Exchange. Despite this trading continues, first at Lloyd's of London and then back to a part of the old Exchange building.

1994

The Baltic celebrates its 250th anniversary

1995

New permanent premises are found at 38 St Mary Axe - home of the Baltic today.