Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by Cmc ltd. The development of S&P BSE SENSEX options along with equity derivatives followed in 20, expanding the BSE's trading platform. In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. In 1986, the BSE developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange. Initially named the BSE Towers, the name of the building was changed soon after occupation, in memory of Sir Phiroze Jamshedji Jeejeebhoy, chairman of the BSE since 1966, following his death. Construction of the present building, the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area, began in the late 1970s and was completed and occupied by the BSE in 1980. On 31 August 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The street on which the site is located came to be called Dalal Street in Hindi (meaning "Broker Street") due to the location of the exchange. The present site near Horniman Circle was acquired by the exchange in 1928, and a building was constructed and occupied in 1930. The Bombay Stock Exchange continued to operate out of a building near the Town Hall until 1928. The brokers group became an official organization known as "The Native Share & Stock Brokers Association" in 1875. At last, in 1874, the brokers found a permanent location, the one that they could call their own. With a rapid increase in the number of brokers, they had to shift places repeatedly. A decade later, the brokers moved their location to another leafy setting, this time under banyan trees at the junction of Meadows Street and what was then called Esplanade Road, now Mahatma Gandhi Road. In the 1850s, five stock brokers gathered together under a Banyan tree in front of Mumbai Town Hall, where Horniman Circle is now situated.
While BSE Limited is now synonymous with Dalal Street, it was not always so. Bombay Stock Exchange was started by Premchand Roychand in 1875.