Have you ever thought about where the diamonds of the whole world are? Of course, on the diamond exchanges - the epicenter of the world's largest deals, featuring the finest samples of precious stones.
Diamond exchange is a club where the experts sell and buy rough and polished diamonds. The members of the diamond exchange provide comfortable conditions and convenient infrastructure for trading operations. Today there are thirty diamond exchanges in the world. These exchanges compete with each other: some are actively increasing the level of cooperation with their partners, while others are betting on zero tax and minimal bureaucracy. The most famous of which are located in Israel, Belgium, Great Britain, Canada, and India.
These five diamond exchanges make a difference in global trade. They represent the best samples of stones of any type, color, size, cut.
1. Ramat-Gan (Israel)
December 8, 1937 - the first Diamond Club in the world started working in Israel and is considered to be the countdown of the history of the Israeli Diamond Exchange. The Israel Diamond Exchange in Ramat-Gan is also one of the largest and most professional diamond exchanges in the world.
It was possible to buy and sell both large diamonds and jewelry with precious stones. A single room over several decades has turned into a huge complex of four buildings. There are about three thousand members on the Israel Diamond Exchange now. More than 6,000 people visit the diamond exchange every day.
The friendly policy of the country's leadership facilitated the active development of the exchange: rough diamonds are imported and exported duty-free, the interests of the Diamond Club are at the international level. Moreover, the activities of all enterprises, including jewelry stores and consulting agencies, are strictly controlled.
The Ramat Gan Diamond Exchange is firmly holding its leading position despite other similar organizations and also because Israel Diamond Exchange has the access to the market from the Far East to the United States. Having its own factories for cutting stones also gives the country a competitive edge in the market. In the increasingly competitive environment, Israel will hold a leading position for a long time for sure.
2. Antwerp (Belgium)
Belgium has been considered the world center for the diamond trade for more than five hundred years.
The Antwerp Diamond Exchange (AWDC) has around two thousand members. The diamond quarter of this city is known to anyone interested in diamonds. The cut of the local cutting enterprises is recognized as the most beautiful.
Walking through the narrow streets of Antwerp, it is difficult not to buy a sparkling stone. However, it is not so easy to get into the building of the Diamond Exchange itself. Most of the diamonds are sold in bulk to jewelry companies. But a private person can also buy a diamond on the recommendation.
3. London (Great Britain)
The London Diamond Exchange (LDB) was founded just after the end of World War II by refugees from Belgium. The first president of the exchange is Max Lack. Its services are available only to those who strictly adhere to the established code and are of high standing in the diamond industry. The total number of participants never exceeded 700 people.
If you are a member of the London Diamond Bourse, it gives your customers assurance that the diamonds they are going to buy are real, good quality. Everyone who is a "member of the London Diamond Bourse assures that the goods purchased are from a vetted professional of good standing who is accountable to the industry for their business dealings".
4. Toronto (Canada)
The Canadian Exchange is one of the youngest. The first trading on it took place in January 2010. Since then, both traders and experts have noted her great potential. This allowed the diamond exchange to become a member of the World Federation of Diamond Bourses.
The new large diamond and polished diamond trading platform was not accidentally founded - Canada is the third largest producer of these precious stones, which were previously distributed through historical distribution channels. Own independent association is a chance for the Canadian diamond business to reach a new, more modern level.
5. Mumbai (India)
It is impossible to imagine the jewelry world without Indian diamonds. The organization of the Bharat Diamond Exchange became a natural continuation of the development of the diamond business in India.
The country's authorities spent almost two decades on the creation of the exchange. The Diamond Exchange fully met the expectations of an increase in the volume of supplies of Indian stones to international markets.