News

Mar 25, 2020

WFDB to Set Up a New Diamond Trading Platform Keeping in Mind Members Needs

The World Federation of Diamond Bourses today announced that it has decided to create a new Diamond Trading Platform, which is in the process of being set up and will be launched in due course.

“The brand-new, state-of-the-art, trading platform, which will be available for use by all members of all bourses, is being created specially keeping the needs of the WFDB members in mind,” said WFDB President Ernie Blom. “Additionally, it will give members genuine peace of mind, as every transaction will be backed and protected by the WFDB’s unparalleled and unique arbitration system. In these times of uncertainty, the dependability, security, and reliability of the WFDB’s arbitration system has never been more crucial, and we hope this new platform will help expand this system to modern trading methods.” 

The WFDB pointed out that the unprecedented crisis caused by the global pandemic Covid-19, showed how closely WFDB’s members across the world are linked. 

“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 in order for members of every bourse to trade freely with one another and to feel safe while doing so,” Blom said. “Unity in the face of crisis is the way forward for our industry. We encourage all of our member bourses to enthusiastically participate in this new venture.”

Blom further said: “We all fully understand and empathise with the feelings of concern and frustration that our members have expressed to us with regard to the current crisis and we believe that at this period all the actors in the global diamond industry should act with full responsibility and utmost caution.”

WFDB said that in the interim, while the new trading site is being developed, the IDI has graciously invited all WFDB members to use its international trading platform, available at www.get-diamonds.com.