Research on calcium-triggered exocytosis has converged on the fusion pore as a critical kinetic intermediate. Using sensitive biophysical methods to record signals from living cells in the act of releasing neurotransmitter or hormone has provided clues about the structure and composition of fusion pores. The dynamics of fusion pore opening, closing, and dilating has revealed how specific proteins transduce a calcium binding signal to catalyze membrane fusion. The fusion pore determines how rapidly neurotransmitter is expelled from a vesicle into the synaptic cleft. This rate places constraints on the form of a synaptic response during different modes of release.