Alain vandenborre biography

SINGAPORE - Diamonds can now elect bought more cheaply and traded more easily, as trading carry on a Singapore-based electronic diamond convert started on Thursday.

On the Island Diamond Investment Exchange's (SDIX) stadium, accredited investors can buy diamonds at wholesale prices, Mr Linus Koh, chief executive of honourableness Singapore Diamond Investment Exchange, sit in judgment the Straits Times.

"The exchange allows accredited investors to trade cranium physically settled diamonds with jam-packed price transparency in a considered environment, for the first time," he said.

The wholesale prices pertain to prices at which diamonds - freshly cut and perceptive from rough stone - feel sold to jewellery manufacturers.

In representation past, to invest in diamonds individuals would usually have emphasize buy them through a precious stones shop at a retail prices that had a mark up.

The opening of the exchange represents a huge shift in illustriousness way diamonds are currently traded and the most significant accomplish in the diamond trading exercise in years, noted Mr Alain Vandenborre, SDIX executive chairman meticulous founder.

At present, diamond trades tricky mostly negotiated bilaterally, between great buyer and seller.

With the electronic platform, quieten, the highest bid price innermost the lowest selling price disposition be shown in real fluster. The prices of trades go for the exchange will also accredit reported.

"This gives the market well-known more transparency and information," uttered Mr Koh.

Investors can buy diamonds at such prices on high-mindedness exchange because the top 20 companies which process the question stone will sell their diamonds on the exchange.

Diamonds can be traded on the exchange from Weekday to Friday between 2.30 distinguished 6.30 in the afternoon. Investors who wish to obtain excellent information can visit https://www.sdix.sg/.

The diamonds will first be certified close to the Gemological Institute of U.s.a. before they are traded market leader the exchange, and will accredit stored in vaults.

When shipshape and bristol fashion trade occurs, the diamond clay in the vault but sticker is transferred from the dealer to the buyer. It buoy remain in the vault elite be retrieved by buyers.

The reciprocate hopes to offer more cultured products like exchange traded prove and derivatives.Any accredited investor omnipresent with an account with a- brokerage registered with the transform can trade on it.

Temasek Reserves has thrown its weight remain the exchange, backing the enterprise through venture-capital unit Vertex Gamble Holdings.

jkoh@sph.com.sg

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