Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

WFDB creates World Federation Diamond Trading Platform

25 march 2020

news_16082018_wfdb.pngOn March 23, the Executive Committee of the World Federation of Diamond Bourses had written to all members of the midstream global diamond sector, regarding the creation of a New Trading platform due to the crisis caused by the global pandemic Covid-19. 
The statement reads as follows: 
“Due to the desperate need this unprecedented crisis has created for our members, it has never been clearer that all of our members across the world are intimately linked. Many member bourses and countries have their local trading platforms.
The WFDB today is announcing that it will be creating a state-of-the-art trading platform available for use by all members of all bourses, and is created with the needs of WFDB members in mind, and backed by the peace of mind that comes with knowing that every transaction will be protected by the WFDB’s unparalleled and unique arbitration system. 
The WFDB believes that a cross-bourse trading platform, underpinned by the WFDB’s and affiliated bourses world-renowned arbitration system, would help further the WFDB’s core missions to promote the international diamond trade and the resolution of disputes between individual members of the affiliated bourses through arbitration. In these times of uncertainty, the dependability, security, 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 believes strongly in the value of competition and that adding the WFDB platform would also strongly contribute to the promotion of the trade and to healthy competition. 
In the interim, while the site is being developed, the IDI has graciously agreed to allow all WFDB members to use its international trading platform, available at www.get-diamonds.com
If there are any silver lining and benefit to Covid-19, it has taught us that all diamond bourses should come together, promote and facilitate the diamond trade for members of every bourse to trade freely with one another and to feel safe while doing so. We encourage all of our member bourses to enthusiastically participate in this new venture.
We all fully understand and empathise with the feelings of concern and frustration that our members have expressed to us concerning the current crisis and we believe that at this period all the factors in the global diamond industry should act with full responsibility and utmost caution.
May we ask you to bear with us knowing that we are acting in your best interests. We will make sure the members are kept up to date regularly.
Should there be any further clarifications and assistance required, please contact your Bourse, who will liaise with the WFDB.” 

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished