The bourse at Antwerp is a building in

Antwerp Antwerp (; ; ) is a City status in Belgium, city and a Municipalities of Belgium, municipality in the Flemish Region of Belgium. It is the capital and largest city of Antwerp Province, and the third-largest city in Belgium by area at , after ...

Belgium Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...

, which was first opened in 1531 as the world's first purpose-built commodity exchange. The Royal Exchange in London was modelled on the Antwerp bourse. The bourse has been described as "the mother of all stock exchanges". The commodity exchange fell into disuse in the 17th century, following the

Fall of Antwerp The fall of Antwerp ( ) on 17 August 1585 took place during the Eighty Years' War, after a siege lasting over a year from July 1584 until August 1585. The city of Antwerp was the focal point of the Protestant-dominated Dutch Revolt, but was fo ...

(1584–1585), when Amsterdam replaced Antwerp as the

Low Countries The Low Countries (; ), historically also known as the Netherlands (), is a coastal lowland region in Northwestern Europe forming the lower Drainage basin, basin of the Rhine–Meuse–Scheldt delta and consisting today of the three modern "Bene ...

' main trading centre. Following a fire in 1858, the building was reconstructed, and from 1872 once again served the purpose of housing a bourse, this time as a true stock exchange, the Antwerp Stock Exchange. In 1997 this stock exchange was merged into

Brussels Stock Exchange The Brussels Stock Exchange ( ; ), abbreviated to BSE, was founded in Brussels, Belgium, by decree of Napoleon in 1801. In 2002, the BSE merged with the Amsterdam Stock Exchange, Amsterdam, Lisbon Stock Exchange, Lisbon and Paris Bourse, Paris ...

(presently

Euronext Euronext N.V. (short for European New Exchange Technology) is a European bourse that provides trading and post-trade services for a range of financial instruments. Traded assets include regulated equities, exchange-traded funds (ETF), warrant ...

), and the building was once more abandoned and neglected. Following extensive restoration, the building is now part of a multipurpose events venue known as the Antwerp Trade Fair.

History

1531–1661: Commodity exchange

From 1531 to 1661, it was the site of the world's first dedicated commodity exchange. As

took over the role of trade center from

Bruges Bruges ( , ; ; ) is the capital and largest city of the province of West Flanders, in the Flemish Region of Belgium. It is in the northwest of the country, and is the sixth most populous city in the country. The area of the whole city amoun ...

, it grew into a large metropolis with more than 100,000 inhabitants, including 10,000 foreign merchants, mostly Spaniards and Portuguese. From 1531 the old bourse was given a new building, conceived as a rectangular square with galleries covered on four sides, built on top of a street intersection. For half a century this exchange would be the focal point of European trade and the model for cities with similar ambitions. On the initiative of

Thomas Gresham Sir Thomas Gresham the Elder (; c. 151921 November 1579) was an English merchant and financier who acted on behalf of King Edward VI (1547–1553) and Edward's half-sisters, queens Mary I (1553–1558) and Elizabeth I (1558–1603). In 1565 Gr ...

, the representative of the English crown in Antwerp, the

Royal Exchange, London The Royal Exchange in London was founded in the 16th century by the merchant Sir Thomas Gresham on the suggestion of his factor (agent), factor Richard Clough to act as a centre of commerce for the City of London. The site was provided by the Ci ...

was opened in 1565 on this model. It was also called "the Bourse" until

Queen Elizabeth I Elizabeth I (7 September 153324 March 1603) was Queen of England and Ireland from 17 November 1558 until her death in 1603. She was the last and longest reigning monarch of the House of Tudor. Her eventful reign, and its effect on history ...

, after a visit on January 23, 1570, changed its name to the Royal Exchange. The Middelburg stock exchange was opened in 1592, then Rotterdam in 1595 and Amsterdam in 1611. The first building in Brabant's late Gothic style dates from 1531, after a design by Domien de Waghemakere. A rectangular open space was enclosed by a colonnade covered with star and net vaults. The gallery concept of this building served as a model for London's Royal Exchange (designed by Hendrik van Paesschen), as well as for Rotterdam, Amsterdam and Lille. The high-rise 'pagoda towers' with octagonal and cylindrical hull may have served as a lookout for the harbor. Every nation had a more or less permanent location at the exchange. After a fire in 1583, the Bourse was immediately rebuilt to the same plan. The Siege of Antwerp (1584–1585) and the surrender to the 'Spanish' Army of Flanders led to a decline in trade, with Antwerp unable to compete with Amsterdam.

1661–1858: Disuse, various uses

Between 1661 and 1810 the building was used, among other things, as a drawing academy and seat of the

Guild of Saint Luke The Guild of Saint Luke was the most common name for a city guild for painters and other artists in early modern Europe, especially in the Low Countries. They were named in honor of the Evangelist Luke, the patron saint of artists, who was iden ...

.Fiche Handelsbeurs (ID: 6243)
Inventaris van het Bouwkundig Erfgoed. Consulted 28 Feb. 2014. The open interior space was domed in 1853 by Charles Marcellis, following the example of London's Crystal Palace.

1858–1997: Second fire, reconstruction as a stock exchange

File:De brand bij de Beurs van Antwerpen op 2 augustus 1858.jpg, The second fire (1858) File:Het puin van de Beurs van Antwerpen, langs de kant van de Kamer van Koophandel.jpg, Devastation after the 1858 fire Anvers. La Bourse. Interieur LCCN2017659114.jpg, Trading floor, as it appeared after reconstruction for the purpose of housing a stock exchange in 1872 (1890) After a second fire on 2 August 1858 had once again destroyed the building, the Antwerp city authorities twice organized a design competition in which the old concept had to be preserved. The current building was finally completed in 1872 by architect Joseph Schadde. It is a remarkable combination of the neo-gothic style and revolutionary techniques, in particular the metal construction for the covering of the interior. The reconstructed building housed Antwerp stock exchange, which opened in 1872. This true stock exchange was used until 1997, when it was merged into the

1997–2019: Abandonment, archaeological excavation and renovations

With the closure of the stock exchange, the building lost its purpose and was abandoned and neglected. Various proposals to redevelop the building went nowhere for fifteen years. The investment file started moving again in October 2013, after a new partner was found: the

Marriott hotel Marriott Hotels & Resorts is Marriott International's brand of full-service hotels and resorts based in Bethesda, Maryland. As of June 30, 2020, there were 582 hotels and resorts with 205,053 rooms operating under the brand, in addition to 160 h ...

chain. A heritage budget was also released from the Flemish government for the restoration of the Bourse. In October 2014, it was announced that the new building application for the project was approved by the city of Antwerp. But at the beginning of December 2014, it became known that various local residents had appealed to the permanent deputation of the province against the building permit. In April 2015, the province confirmed the building permit on the condition of a few adjustments to meet the concerns of local residents. In February 2016, as part of excavations to convert the site into a Marriott Hotel, various archaeological finds were made. Floor levels, walls, and a fireplace/oven from the

late Middle Ages The late Middle Ages or late medieval period was the Periodization, period of History of Europe, European history lasting from 1300 to 1500 AD. The late Middle Ages followed the High Middle Ages and preceded the onset of the early modern period ( ...

were found. Pile pits were also found under a number of walls that probably point to medieval timber construction. Dark gray sand was also found, indicating medieval garden and / or agriculture. The most remarkable find, however, was the discovery of some

urns An urn is a vase, often with a cover, with a typically narrowed neck above a rounded body and a footed pedestal. Describing a vessel as an "urn", as opposed to a vase or other terms, generally reflects its use rather than any particular shape ...

dating from the

Iron Age The Iron Age () is the final epoch of the three historical Metal Ages, after the Chalcolithic and Bronze Age. It has also been considered as the final age of the three-age division starting with prehistory (before recorded history) and progre ...

. When the excavations and archaeological investigation are completed, an underground parking garage would be built under the former Bourse.

2019–present: Multipurpose venue

After a long and intensive renovation, it was reopened in October 2019 as an events venue (''Antwerp Trade Fair'') with restaurant, hotel and public passage. The ground floor with its central square is open to the public from Saturday to Sunday, between 10:00 and 17:00. The building was used as a venue for the 2021 World Choir Games, co-hosted by

and

Ghent Ghent ( ; ; historically known as ''Gaunt'' in English) is a City status in Belgium, city and a Municipalities of Belgium, municipality in the Flemish Region of Belgium. It is the capital and largest city of the Provinces of Belgium, province ...

References

{{Authority control Stock exchanges in Europe Financial services companies of Belgium Companies established in the 15th century Archaeological sites in Belgium History of Antwerp Buildings and structures in Antwerp