WFDB to Create a Diamond Trading Platform
“Unity in the face of crisis is the way forward for our industry,” said WFDB President, Ernie Blom amidst Covid-19 struggle. The World Federation of Diamond Bourses (WFDB) announced that it has decided to create a World Federation Diamond Trading Platform. The process of creation is on and the cross-bourse trading platform 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 have never been more crucial, and we hope this new platform will help expand this system to modern trading methods.”
The WFDB believes that the new platform would also strongly contribute to the promotion of the trade and to healthy competition. The unprecedented crisis caused by the global pandemic Covid-19 has made it clear as never before that all of WFDB’s members across the world are intimately linked.
In the interim, while the site is being developed, the IDI has graciously invited 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 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 empathize 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.”
The WFDB will keep all stakeholders updated on the progress of the development of the trading platform.