One of the oldest public squares in the city, it covers an area of 3,484 m2 (37,500 sq ft).
Theories that before the construction of the Bremen Town Hall in 1405 to 1410 all or only most of the market activities took place near Liebfrauenkirche have been falsified by archeological findings.
A rule was made which allowed only merchants whose vehicles could pass one of the seven openings in the wall to sell their products.
The city council made this rule in order to ensure that there was sufficient space for pedestrians between the market stalls.
In July 2004, the part consisting of the Roland Statue and the Town Hall was listed as a UNESCO World Heritage Site.