Dubai Diamond Exchange paved the landmark of 1000 members
The Dubai Diamond Exchange (DDE), the GCC’s only diamond and coloured stones trading platform, and home to some of the world’s most renowned jewellery manufacturers, retailers and traders yesterday announced it had paved the symbolic target of 1000 members. The Arslanian Group is a leading player in the international rough diamond business since 3 generations. The DDE – a DMCC platform and Dubai Government initiative – is located in the iconic Almas Tower, the heart of the region’s diamond trade.
Peter Meeus, Chairman of the DDE Board of Directors, commented: “As a trade regulator and market maker for diamond and coloured stones businesses, the DDE is the only bourse in the GCC affiliated with the World Federation of Diamond Bourses (WFDB). The DDE brings together several large scale initiatives that complement industry requirements, such as rough and polished diamond tenders as well as one globally accepted framework for governance and trade practices.”
Mr. Ernie Blom, President of World Federation of Diamond Bourses (WFDB), said: “We are delighted to hear about the rapid growth of the Dubai Diamond Exchange to become one of the leading diamond exchanges in the world. The landmark of 1,000 members is impressive, especially in the knowledge that the DDE only started its operations in 2004. Great work and a major achievement for the Dubai Diamond Exchange team and the DMCC!”
The DDE assists with international dispute settlement, helping members find solutions. As a member of the World Federation of Diamond Bourses, the DDE has the authority to arbitrate and resolve disputes for members with verdicts withheld in other WFDB affiliated bourses.
Mr. Raffi Arslanian, on behalf of Arslanian Group DMCC, said: “We have chosen to grow our operations further in Dubai and in the Almas Tower. Due to its strategic location in between the cutting centres in India and the Far East and the producing nations in Africa, Dubai is ideally located. We are proud to be the 1000th Member of the Dubai Diamond Exchange. Especially the logistical flight connections and the great infrastructure have helped us make this decision to expand our services in Dubai further.”
DDE membership serves as a mark of distinction, opening doors and allowing access to those active in the diamond trade. The DDE ensures its members have the safety of trading only with reputable companies who adhere to its compliance guidelines and are bound by a strict code of good business practices and ethics.
The DDE Membership is compulsory for all DMCC licensed members that are trading in jewellery, pearls & precious stones; manufacturing precious jewellery and cutting & polishing precious stones.
Ahmed Bin Sulayem, Executive Chairman of the DMCC, concluded: “Dubai's trade and commerce role is, and has always been, to facilitate trade along the silk route by providing people with the tools they require to succeed. The Dubai Diamond Exchange implements a robust framework that has rapidly expanded by maximising its strong connectivity with producer markets in Africa, cutting centres in Asia and consumers in Europe, the US and China. By providing world-class infrastructure for service providers, regional and international trading partners, DMCC will continue to ensure industry participants can trade with confidence and access new markets.”
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