Two South African Diamond Clubs Merge

Johannesburg is now a one-bourse town.

The two South African bourses, the Diamond Merchants Association and the Diamond Club of South Africa, have agreed to merge into a new body, the Diamond Dealers Club of South Africa. South African dealer Ernest Blom was elected the first president of the new body.

The merger is part of a larger trend: In recent years, both London and New York have seen bourse consolidations.