Building which aimed to provide a place of meeting for the commercial community. It was situated on Bridge Street, and its construction was met with support from Sydney's business community including John Fairfax, Thomas Holt Jnr, David Jones and Thomas Sutcliffe Mort. The first telegraphic message in New South Wales was sent from the Exchange to Liverpool on the day of its official opening, and then the state's first telephone system was established in the building in 1880. Wool auctions were held in the building from 1864 until its demolition in 1964. Originally called the Sydney Exchange, it was designated the Royal Exchange in May 1901.