Before you stands, or rather is being rebuilt, Børsen, Copenhagen’s old Stock Exchange. Christian IV had it built between 1619 and 1640, designed by Lorenz van Steenwinckel and continued by his brother Hans. Some 128 metres long, it is a jewel of the Dutch Renaissance in Denmark.

1Guardians of the spire

Its trademark was the spire: four dragons with their tails twisted together in a spiral reaching for the sky, crowned by three crowns. According to tradition, the dragons protected the building from enemies and from fire.

And the legend seemed to work. The Exchange survived the great city fires of 1728 and 1795, and both Christiansborg fires, in 1794 and 1884, even as the flames devoured the buildings around it.

On 16 April 2024, during restoration work, fire broke out in the roof. Shortly after half past eight, the dragon spire collapsed while the whole country watched live.

Firefighters, staff and volunteers rushed hundreds of works of art to safety, among them a large group portrait by P. S. Krøyer. Around half of the building burned. In November 2024 the police ruled out a criminal act, though they could not pin down the exact cause.

2Rising again

The decision to rebuild was immediate. Work began in September 2024 with materials like those of the 17th century, and completion is expected around 2029, spire included.

3What to look out for

  • The protective structure covering the works.
  • The surviving façade, with its red brick and gables.
  • The gap in the sky where the spire once rose.
The spire of four entwined dragons on Børsen
The original spire, from the 1620s, lost in 2024.
Black smoke over Børsen during the fire of 16 April 2024
The fire of 16 April 2024.
View from above of Børsen under cover during its reconstruction
The reconstruction works in May 2025.

Documented

The Exchange was built between 1619 and 1640; on 16 April 2024 a fire destroyed about half of the building and brought down the spire, and reconstruction is expected to finish in 2029.

Oral tradition

That the dragons on the spire protected the building from fire and enemies is a popular belief, not a fact.

Sources and credits

Dansk Erhverv, ‘Sammen om Børsen’ (history and reconstruction); TV 2 Kosmopol, reports on the fire and the spire (2024–2025); Den Store Danske (lex.dk), ‘Børsen’.

Photos:

  • Copenhagen’s old Stock Exchange with its dragon spire before the fire: Jebulon, CC0.
  • White protective structure over the reconstruction works at Børsen: Christian Ursilva from København, Danmark, CC BY-SA 4.0.
  • The spire of four entwined dragons on Børsen: Jebulon, CC0.
  • Black smoke over Børsen during the fire of 16 April 2024: Penguin, CC BY-SA 4.0.
  • View from above of Børsen under cover during its reconstruction: Penguin, CC BY 4.0.

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