Diamonds: The World’s Bourses and Exchanges
DSO Archive publishes a research on some of the diamonds bourses and exchanges around the world. These non-governamental and governamental organizations issue codes of practice for their members and ensure that customers as well as traders are protected from malpractice.
The World Federation of Diamond Bourses, founded in 1947, was created to provide bourses trading in rough and polished diamonds and precious stones with a common set of trading practices.
In Australia the Diamond Dealers Club of Australia (DDCA) was founded to unite the diamond industry and to provide a diamond bourse in Australia. The DDCA provides an environment for the trading of diamonds, within a set of trading practices. DDCA has a legal, Ethical framework to enact regulations for members and protect consumer confidence.
In Austria the Diamant Club Vienna competence, integrity and tradition are the focus of all association activities and it coordinates the trade across the country.
In Belgium the Antwerp Diamonds Bourse fosters the interests of the Antwerp diamond industry. The bourse is a place that brings people together in the shared pursuit of high standards within the industry and it offers mediation and arbitration services.
In Belgium the Antwerpsche Diamantkring is the rough diamond bourse. A founding member of the World Federation of Diamond bourses and one of the 4 Antwerp diamond exchanges, the Antwerpsche Diamantkring offers its members a range of supporting services to conduct business transactions in a secure and regulated manner and provides access to a dedicated diamond trading floor.
In China the Shanghai Diamond Exchange is the only diamond import and export trading platform in mainland China. It operates in accordance with internationally accepted diamond trading rules and it provides a fair, just, safe and closed management trading venue for Chinese and foreign diamond dealers.
In Germany the diamond and gemstone exchange Idar-Oberstein was opened as the world’s first combined exchange for both diamonds and colored gemstones. It is managed as an association and serves as an international trading platform and advocacy for its members.
In Hong Kong the Diamond Federation of Hong Kong is a non-profit organisation aiming to protect the integrity of diamonds and the interests of consumers by standardizing business practices. It joins forces with two long-established associations in Hong Kong, namely the Diamond Importers Association and the Hong Kong Diamond Bourse.
In India the Bharat Diamond Bourse is the centre of domestic and international traders for selling and buying diamonds in every size, shape and quality and natural colored diamonds in every shade. Its ability to ensure supply of any type of goods makes India the preferred diamond polishing centre to diamantaires worldwide.
In Israel the Israel Diamond Exchange (IDE) is engaged in all areas of diamond dealing – raw and polished, imports and exports, production and brokerage. The main activity of the stock exchange is to cater to the members’ needs from professional and business services to equipment and welfare services.
In Israel the Israel Precious Stones and Diamonds Exchange (IPSDE) is today one of the world’s largest diversified gemstone bourse gathering under its umbrella members who are involved in the trade of colored stones, diamonds and other precious gems.
In Italy the Borsa Diamanti d’Italia is a non-profit association of traders and brokers in diamonds and precious stones as well as goldsmiths. The purpose of the Association is to give its members a place to develop and promote initiatives that can be useful to the members themselves.
In Monaco the Monaco Diamond Exchange regulates the afflux of conflict diamonds into the mainstream markets and it is a registered civil society on the United Nations (UN) Department of Economic and Social Affairs (DESA) database.
In Netherlands the Vereniging Beurs voor den Diamanthandel in Amsterdam is the oldest diamond exchange in the world, it represents the diamond trade and industry in the Netherlands, informs and promotes business.
In Panama the Panama Diamond Exchange changed his name to the World Jewellery & Diamond Hub in order to better reflect its mix of traded goods. The bourse is the only trading centre in Latin America dedicated to the diamond, colored gemstones and jewellery trades.
In Russia the Moscow Diamond Bourse is engaged in development of the proposals and amendments to the current legislation of the Russian Federation, attracting foreign exchanges to joint activities in international markets and other issues for the integration of the Moscow Diamond Exchange into the international community of diamond exchanges.
In Singapore the Diamond Exchange of Singapore serves as the standard bearer, consolidated voice, promoter and facilitator of the diamond and jewellery industry in the country. It provides and implements the industry ethical standards under which the members operate.
In Switzerland the Geneva Diamond Exchange (GDE) monitors closed doors transactions and acts as market regulator for the afflux of conflict diamonds into the mainstream market. It is a civil society on the United Nations DESA registry The members are from the financial sector and the aim of the association is to bridge the financial and diamond sectors.
In Thailand the Bangkok Diamonds & Precious Stones Bourse (BDPSE) was first officially recognized and endorsed by the World Federation of Diamond Bourses and it represented the nexus of the diamond trade connecting Thailand with all major diamond trading and manufacturing centres.
In Turkey the Borsa Istanbul has as main purpose and scope of activity to establish and develop markets, platforms and systems to ensure that trading takes place within the framework of the provisions of the law and the relevant legislation.
In United Arab Emirates through the Dubai Diamond Exchange precious stones traders and service providers are connected to a globally accepted governance and trade practice framework and as such, benefit from access to new markets and greater trust that this brings.
In United States the Diamond Club West Coast is set up as a non-profit organization dedicated to helping members facilitate and enhance their respective businesses through a variety of critical services including: synthetic diamond testing, mediation and arbitration services.
In United States the Diamond Dealers Club of New York fosters just and equitable principles in the trade, it establishes and promotes industry-wide standards of disclosure and it provides arbitration tribunals to adjudicate differences and controversies among its members.
In United Kingdom the London Diamond Bourse’s members are bound by an historic code of conduct which includes integrity, moral obligation, the highest standards of trade and best business practice. The bourse is recognised by the Foreign and Commonwealth office as a Trade Organisation and as such all the members are required to adhere to the Kimberley Process and provide annual certification to validate any trade in rough diamonds.