World's First Diamond Futures Exchange Starts Trading in India
- Contracts to help Indian polishers hedge price risks
- Exchange has 20 large diamond companies as trading members
Cut and polished diamonds
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
The world’s first diamond futures exchange will begin trading in India on Monday, enabling companies in the largest producer of the cut and polished gems to better hedge price risks.
“Indian manufacturers most require this type of financial product,” said Sanjit Prasad, managing director of the Indian Commodity Exchange Ltd. India carries the price risk of holding huge inventories of cut and polished and rough diamonds, he said.