The Dubai Multi Commodities Centre (DMCC) opened its office at the Almas Tower, in Jumeirah Lakes Towers, on November 11, 2008, bringing the trading floor of the Dubai Diamond Exchange (DDE) to the second floor of Almas Tower.
The DDE trading floor spans 1,500 sq. metre, and comprises of public trading facilities, private viewing rooms and sophisticated technical instruments for diamond inspection, fully automated vaulting facilities and digital market information. Services offered at the floor include shipping agents, customs inspections and facilities for diamond boiling, guaranteeing an easy flow of goods and services.
“This move into our own premises at the Almas Tower represents an exciting phase in our development. 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”, said Youri Steverlynck, Chief Executive Officer of DDE.
DDE is preparing to host the monthly “Polished Diamonds Sales Weeks” in January 2009, where it would offer a range of goods that were previously limited to overseas diamond centres and industry exhibitions, including solitaires, large and fancy coloured diamonds, layouts for jewellery and consistent parcels of small goods. Diamonds will be offered on cash payment terms and will be physically available for inspection. DDE guarantees the authenticity of diamonds with respect to their origin and quality.
Steverlynck added that 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.
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