News

Advanced Search

WFDB Distinguishes SDX From its Member the DES

Jun 19, 2012 9:03 AM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... The World Federation of Diamond Bourses (WFDB) sought to clarify that the opening of the Singapore Diamond Exchange (SDX), a platform for private investors to invest in diamonds, should not be mistaken  for the Diamond Exchange of Singapore (DES), which is the first Asian member of the WFDB.

Avi Paz, the president of the WFDB, said, ''I wish to stress that the Singapore Diamond Exchange is a private limited company that facilities the buying of diamond portfolios for investors. It is simply not a diamond bourse as defined by the global diamond trade. Its mission and purpose is completely different from the mission of our affiliated bourses,  which is to be genuine trading platforms that bring together diamond buyers and traders under strict guidance.''

The SDX is operating within the Singapore FreePort and has no connection with the WFDB, according to the global body. The DES, however, is registered as a non-profit association in Singapore, was the very first diamond bourse in Asia to become member of the WFDB, back in 1980. The acronym “DES” and its logo are registered trademarks in Singapore. DES members are in no way associated directly or indirectly with the SDX, stated the WFDB.

Tags: bourses, diamond, diamonds, exchange, Jeff Miller, Singapore, WFDB
Similar Articles
Similar Videos
Live at Centurion Show: Rapaport talks to the independent jeweler
Apr 08, 2014
Martin Rapaport, the chairman of the Rapaport Group, live at the Centurion...
brauner Brauner Addresses Issues... tanishq Tanishq's Kulhalli Discusses... surana Factors Influencing India's...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2014 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.