The Tokyo Stock Exchange (TSE) was established in 1878 and is currently the third largest stock exchange in the world. It reopened in 1949 after being shut down during World War II. The TSE building was replaced in 1988 and trading switched to electronic format in 1999. The TSE is structured as a stock company and had over 2,200 listed companies as of 2013 with a total market capitalization of $4.5 trillion. The Nikkei 225 index tracks daily price changes of shares on the TSE.