The World Federation of Diamond Bourses (WFDB) has announced that it will create the World Federation Diamond Trading Platform.
In a media statement, the WFDB said that the system will be available for use by all members of all bourses and will back every transaction with the group’s 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 Federation’s president, Ernie Blom, said in the brief.
“The WFDB believes that the new platform would also strongly contribute to the promotion of the trade and to healthy competition.”
According to Blom, his organization has learned from the covid-19 pandemic that it is important to join forces to achieve certain objectives.
“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 participate in this new venture.”
