29 Sep 2022
DiamondWorld Directory
Home |
DODAQ offers first ever online cash market for diamonds
Will help promote diamond investment
By: Diamond World News Service
Jan 28 2009 6:14PM
Reference: 3488  


Antwerp, Belgium, after leading the world diamond industry, Antwerp has pioneered the concept of the world’s first online electronic diamond exchange. The exchange, being operated out of Antwerp, will enable polished diamonds to be globally traded like other commodities through the url www.exchange.dodaq.com. The intent is to create an exchange where diamonds can be traded like any other commodity. The innovation of the exchange was propelled by the changes in the diamond industry and support of evolving technology. Simon Okuniew said: "In recent years certifying diamonds has become an industry standard. By standardising diamonds we are realistically able to call them a commodity and therefore trade them as such. All global markets are traded electronically so the logical next step was to create a fully automated electronic exchange for diamonds." The rules that apply to other exchanges are also found here.

DODAQ (Dealers Organisation for Diamond Automated Quotes) offers two-way auctions for individual categories of polished diamonds, thus creating real time spot prices and the first cash market for diamonds. The two-way auction mechanism gives the advantage of price transparency and allows the market to decide fair value, behaving similar to the markets for stocks, currencies and other commodities.

The trading platform is open to all, both within and outside of the industry, enabling diamonds to be realised for the first time as an asset class, and an alternative investment opportunity to gold. It provides both a liquid entry and resale point for investors, launching a sort of revolutionary step for the global diamond industry, updating it with 21st Century trading practices. It also provides the necessary vaulting to solve the burden of physical ownership.

All client funds are held by ABN AMRO Bank and DODAQ uniquely offers instantaneous settlement, steering the industry away from the current reliance on credit. CEO Simon Okuniew said: "DODAQ is a cash market. For us to guarantee settlement we need to be satisfied that the diamond is real and this is achieved through certification. The system calls for the original certificate which will then be checked to verify that the certificate and diamond match. They are then sealed so that at no stage can they be handled. The diamonds are then sent to our specialist vault in the Freeport of Geneva which is run by our professional custodian Malca-Amit, one of the most respected security and storage operators in the world with a 21-year proven track record."

DODAQ is currently offering online webinars for those wishing to understand the trading platform which can be arranged on the homepage at www.DODAQ.com where a simulator version of the exchange is available.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Sort by: 
Very interesting iv just starting using DODAQ. Liquidity seems to be low, but I’m in it for the long run. It seems that they might finally be a way for investors to buy sell and hold polished diamonds. I urge anybody who is interested in investing to turn their attention to DODAQ, they seem to be the only diamond investment game in town. Go DODAQ!
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 31492
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 8885
GJEPC Chairman Interview
Views: 27657
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 38652
Promo for IJ Awards 2012 at NDTV Profit
Views: 56461
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 67938
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21496
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50412
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 52234
DW News App
Member of:
Supporter of: