|Packed trading hall during the US & International Diamond Week in Israel|
The Israel Diamond Exchange, located in the city of Ramat Gan, is the largest Diamond Exchange in the world. Covering approximately 80,000 square meters, The Exchange operates from the Diamond Exchange District - a complex of four building connected by bridges. The Exchange is home to approximately 3,100 members and companies in the diamond business, shipping and insurance companies, restaurants, banks, shops, a doctor’s office, a post office and even a gym.
The Diamond Exchange is a private company and member of the World Federation of Diamond Bourses (WFDB), the World Diamond Council (WDC) and the World Jewelry Confederation (CIBJO).
History of the Israel Diamond Exchange
In 1964, the cornerstone was laid for the Diamond Exchange building in the city. In 1968, the "Shimshon" building was inaugurated – the first of four in the Exchange. A decade later, construction began on the second building in the Complex - the "Maccabi" building.
|Israeli Diamond Institute||Enlarge|
|Israel Diamond District|
After its completion in 1980, a bridge was built to connect the two buildings. The third building, “Noam”, was added that same year. Nine years later a bridge was erected to connect the "Shimshon" and "Noam" buildings. In 1993 the "Diamond Tower" was inaugurated – also connected by a bridge to “Shimshon”.
In 1998, the Complex inaugurated the Rough Diamond Trade Hall.
Activities of the Israel Diamond Exchange
The Israel Diamond Exchange conducts all its activities and provides all services under one roof so members can have access to all professional and business services, including access to equipment, without ever having to leave the Complex.
In the tech section, known as the Diamond Hall, members and companied have free access to advanced technological services required for marketing diamonds, including gemological services.
|Israel Diamond Week|
One of the main responsibilities of The Diamond Exchange is to set policy with regard to trade rules and etiquette and befitting conduct of its members; one of its central functions is operating the legal institution which constitutes an integral and essential part in the commercial life of the members, acting for their benefit. In addition, the Diamond Exchange represents its members at various institutions – government ministries, Bank of Israel, commercial banks, chambers of commerce, tax authorities, etc.
Organizational Structure of the Israel Diamond Exchange
The Diamond Exchange institutions include: President, Directorate and Control Committee; a Managing Director; directorate committees; a panel of arbitrators and a disciplinary committee.