EGL USA to start diamond trading service

EGL USA is likely to start a online trading platform, says a report. The decision comes in the wake of RapNet’s decision to ban all EGL labs from its network.

The to-be launched network is still in the testing phase and will list stones from EGL USA as well as other top-tier well-respected labs, adds a report. The free-of-charge trading platform would serve the lab clients displaced by RapNet. An undisclosed interactive firm is likely to run day-to-day operations.

Meanwhile, the World Federation of Diamond Bourses president Ernie Blom has called for a meeting of different grading labs after the new year to discuss issues in the lab sector especially over-certification by labs.