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Four Antwerp diamonds bourses can be found within the diamond district, where they engage in a critical function in dealing and exchanging both rough diamonds and cut diamonds within the worlds diamond capitol. In the event that you happen to be not familiar with the word, a bourse is a term used throughout European countries to identify an establishment where vendors get together to be able to exchange merchandise and commodities amongst each other. In this case, the Antwerp diamond bourses have already been established to facilitate trading of diamonds (both rough/natural and cut/polished) between Antwerp's fifteen hundred diamond dealers. In more common terms, you can think of diamond bourses (or even diamond exchanges) as providing the same function as stock exchanges are utilized by stock brokers to trade stocks.
The background of Antwerp's diamond exchanges goes back over 100 years. In 1893, the very first bourse, known as the Diamond Club of Antwerp, was established to facilitate the actual trade of cut and polished diamonds. Eleven years afterwards, an additional rivalling bourse was created (Antwerp Diamond Bourse or Beurs voor Diamandthande), to also permit merchants to buy and sell cut and polished wholesale diamonds. Yet another Antwerp diamond bourse ended up being established in 1919, the Vrije Daimanthandel was formed in order to facilitate trading with diamond companies from an area known as the Kempn region, which is not far from Antwerp. In 1930, another diamond exchange, called the Antwerp Diamond Ring (Antwerpsche Diamantkring), was created to aid the buying and selling of rough, natural, uncut diamonds.
Considering that the dealings are usually restricted to a comparatively small number of members, transactions at these bourses are often finished with cash money, with very few if any written records kept. In fact, most of the time trades are simply carried out with a handshake. These diamond bourses are actually regulated by means of an industry organization called the World Federation of Diamond Bourses. This organization keeps the requirements, regulations, as well as bylaws of which bourses employ to operate their particular businesses.
Even though Antwerp diamond bourses are very well recognized, Antwerp is not the only place where these gemstones happen to be traded on a wholesale level. There are also bourses in New York City, Israel, London, India, Singapore, Hong Kong, Miami, and Moscow. These competing bourses do not carry the sheer volume of the bourses in Antwerp, however, they do help maintain the market amongst dealers by providing a safe place with known rules and regulations to conduct trading.
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