Dubai Diamond Exchange opens new trading floor

Dubai: The Dubai Multi Commodities Centre (DMCC) on Saturday announced the opening of its new premises and trading floor for the Dubai Diamond Exchange (DDE) in the Almas Tower in the Jumeirah Lakes Towers.

DDE is now operational in its new facilities on the second floor of Almas Tower. This allows DDE to expand its benefits and services for its members.

DDE will house a 1,500-square-metre trading floor comprising public trading facilities, private viewing rooms and sophisticated technical instruments to inspect diamonds, fully automated vaulting facilities and digital market information.

Members can also use a cluster of service pro-viders including shipping agents, customs inspections and facilities for diamond boiling, guaranteeing a smooth flow of goods and services.

'Exciting phase'

"This move into our own premises in the Almas Tower represents an exciting phase in our development. We are geared to expand our services to members by providing them with a one-stop shop for diamond trading in a highly secure and discrete environment," said Youri Steverlynck, CEO of DDE.

"Four years since the launch of DDE, the exchange has grown to a 350-member platform serving the Middle East markets. This will be further strengthened by the exchange's shift to Almas Tower, which represents the newest hub for commodity trading in the Middle East," he said.

He added as a member of the World Federation of Diamond Bourses, DDE has reaffirmed its position in the international diamond community, serving as a regional market interface and linking traders around the world.

Leveraging its new facilities, DDE is also set to commence monthly "Polished Diamonds Sales Weeks" next January, offering a wide range of goods previously limited to overseas diamond centres.