CM: SDiX to launch world's first commodities exchange in physically settled diamonds in Singapore
SINGAPORE Diamond Investment Exchange (SDiX) on Wednesday announced the upcoming launch of the world's first commodities exchange in physically settled diamonds in Singapore, which is targeted to go live in September 2015.
Vertex Ventures Holdings, a fully owned venture capital subsidiary of Temasek Holdings, is an investor of SDiX.
The SDiX platform will utilise proven exchange technology to create a new marketplace for the global diamond trade, and is designed to deliver price transparency and liquidity to the diamond market through a real-time price discovery mechanism, allowing diamonds to be traded as a commodity, thus enabling the creation of a new asset class, SDiX said in a statement.
The exchange will start with two dedicated physical vaults, one operated by Malca-Amit in Singapore Le Freeport and the other operated by Malca-Amit within the Bharat Diamond Bourse in Mumbai.
