On 17 January 1900 a new organisation – “The Baltic Mercantile & Shipping Exchange Ltd” was incorporated with a capital of £200,000. The new building at 24-28 St Mary Axe was formally opened on 21 April 1903. The main feature of the building was a magnificent central hall of more than 2,000 square feet, allowing members to meet. 680 London Shipping Exchange members were formally elected to the Baltic. The roles of the two organisations were combined with grain and shipping being at the core.