London first staged its modern New Year's Eve fireworks beside the London Eye in 2000.
The display formed part of celebrations welcoming the new millennium. Fireworks were launched around the London Eye and along the River Thames, creating a televised landmark event visible from bridges and central London viewpoints.
The celebration developed into an annual ticketed event in later years, with pyrotechnics coordinated around the wheel, the riverfront, and often landmarks such as Big Ben. The fireworks are a separate tradition from the clock's midnight chimes: Big Ben provides the time signal, while the London Eye provides the central visual structure for the display.
A frequent confusion concerns the year 2000 and the start of the third millennium. Because there was no year zero, the third millennium technically began on January 1, 2001, but the public celebrations at the end of 1999 and start of 2000 were widely marketed as millennium events.