The Singapore Diamond Investment Exchange Pte Ltd (SDiX) on 1 July 2015 announced it will launch the world’s first commodities exchange with physicallysettled diamonds in Singapore in September this year.
According to a statement from SDiX, the new platform will utilise exchange technology to create a new marketplace for the global diamond trade, which is designed to deliver price transparency and liquidity to the diamond market through a real-time price discovery mechanism. The mechanism allows diamonds to be traded as a commodity, thus enabling the creation of a new asset class.
Alain Vandenborre, the executive chairman and controlling shareholder of SDiX, said the platform will provide a self-regulated marketplace for diamond and financial traders as well as accredited investors to acquire stones at a market price that is driven by real time transactional data. “This will result in the homogenisation of diamonds, simplifying the manner in which they are valued and hence allowing them to be traded as a commodity,” he added.
Founded by Vandenborre, SDiX has potentially more than 25 pioneer members for the launch, comprised of approved suppliers and brokers. The exchange will start with two dedicated physical vaults, one in Singapore and the other operated in Bharat Diamond Bourse (BDB)'s facilities in Mumbai, India.
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