Singapore Diamond Investment Exchange (SDiX), the world’s first exchange for physical diamonds will soon see the daylight. The diamonds exchange is becoming a reality thanks to the foresightedness of Alain Vandenborre who feels that diamonds need to be bought and sold in a different manner now.
Vandenborre showed his surprise that such an exchange was not operational yet. Moreover his surprise was also due to the fact that till now no one had tried trading diamonds as a commodity, something that should have been done in the 21st century on a global scale. Vandenborre has already roped in several big diamond companies of the world as suppliers. One of them is the New York based leading manufacturer, Leo Schachter.
Leo Schachter’s spokesperson said that the diamond industry has been operating in an old-school manner until now. There have been wholesalers, retailers, middlemen etc. – and that there are no room for these people anymore. With the help of SDiX, diamond manufacturers can directly sell in the marketplace at the right price.
SDiX is expecting a turnover of at least US$250 million after a complete year of trading. The operational bases, as of now, will be set up in Singapore, Hong Kong and India.