The library is located in the so-called Stock Exchange Building (Swedish: Börshuset) at 4, Källargränd, a short alley passing between Slottsbacken and Stortorget in Gamla stan, the old town in central Stockholm, Sweden.
As of 2007[update], the collection encompasses some 200,000 volumes and is thus one of the largest libraries devoted to literature in northern Europe.
[1] The library was founded on November 16, 1901 in connection to the inauguration of the Nobel Institute of the Swedish Academy.
It was first accommodated in a ten-room-flat at Norra Bantorget in a building designed by Ferdinand Boberg, the so-called LO-borgen today accommodating the Swedish Trade Union Confederation (LO) but at the time called Vasaborgen ("The Castle of Vasa").
The collection encompassed some 15,000 literary works after five years and within two decades the library had become cramped for space and was relocated to its present address.