Moshe Mosbacher, president of the Diamond Dealers Club, drew
direct comparisons between the diamond markets of Shanghai and New York in an address
to the 2010 China Diamond Conference in Shanghai on Dec. 1
“Like New York has in the United States, Shanghai today
serves as the financial nerve center of its national economy. And like the
Diamond Dealers Club of New York in the United States, the Shanghai Diamond
Exchange was the first diamond bourse to be established in Mainland China, and
it functions today as the official point of entry to this country’s diamond
market,” said Mosbacher according to a press release. “The bottom line for a diamond
center like Shanghai is similar to the one that we are reminded of daily in New
York – it is all about the local consumer and local consumer confidence.”
In his address, Mosbacher also revealed that the DDC is
currently putting the final touches to what will become the first fully functional
trading floor operated by an established diamond exchange.
The DDC’s online trading floor is due to be launched early in 2011. Further details will be provided after
the holiday season.