WFDB Announces Cross-Bourse Trading Platform

26/03/2020 14:32

Amidst the largest, global crisis in recent history and against the backdrop of turmoil in the industry as many diamond traders removed their stock from the Rapaport trading network, - in protest of the steep price drops published in Rapaport’s latest Price List (March 20) - the World Federation of Diamond Bourses has now announced it plans to establish a cross-bourse trading platform.

The platform to be developed will be accessible for bourse members worldwide, and “tailored to the needs of bourse members”, according to WFDB President Blom. The WFDB believes a new platform, backed by the WFDB’s arbitration mechanisms, will provide a safe environment that is beneficial for the promotion of the industry and for a healthy competition. 

“If there is any silver lining and benefit to Covid-19, it has taught us that we must all come together to promote and facilitate the diamond trade”, Blom said.