It runs from the Käfigturm between Waisenhausplatz and Bärenplatz in the west to the Zytglogge between Kornhausplatz and Theaterplatz in the east.

It is part of the UNESCO Cultural World Heritage Site that encompasses the Old City.

This was shortened and until the early 19th century, the street was known unofficially as Neuenstadt.

Officially it was shortened into Marktgasse in 1798, but this only became common in the early 20th century.

[1] The street appears as a dynamic photo location for the player's cars in the racing game Gran Turismo 5 complete with trams and people.