India Commodity Exchange Ltd (ICEX), the India headquartered diamond trading bourse, has introduced a new 30-cents diamond futures contract, which will enable it to serve a larger chunk of the diamond industry in terms of providing direct hedging facilities.
ICEX said that it has launched the first three monthly contracts of 30-cents for July, August and September this year. The contracts will be for diamonds with quality parameters that include colour H, clarity VS2, a triple X cut with a pointed culet and negligible fluorescence.
Last month the exchange also began offering doorstep delivery to clients purchasing diamonds on its platform, with Malca-Amit as the logistics partner.
Aruna Gaitonde, Editor in Chief of Asian Bureau, Rough & Polished