World Federation of Diamond Bourses

Founded in 1947 as a body that would unite diamond exchanges under one roof, the World Federation of Diamond Bourses (WFDB) would come to provide a common set of trading practices for bourses trading in rough and polished diamonds, as well as colored stones.

But the origins of the WFDB actually date back to 1946 when Jack Sigman, the then-president of the New York Diamond Dealers Club, held discussions in Antwerp about creating a vehicle that would be able to look out for the collective interests of the diamond trade. The inaugural meeting of the WFDB took place in Antwerp in July 1947, at what today is recognized as the premiere World Diamond Congress. Joseph Lens from Belgium was elected the first WFDB president.

 

The object of the World Federation of Diamond Bourses is to protect the interests of affiliated bourses and their individual members, and to further the amicable settlement or arbitration of differences and disputes between the individual members of the affiliated bourses and between the affiliated bourses. In furtherance of this object, it is the aim of the world federation to participate in the promotion of world trade and to encourage the establishment of bourses, with the view of eventual affiliation of all centers where diamonds are actively traded.

 

Members of the bourses affiliated to the World Federation of Diamond Bourses pledge themselves to uphold the traditions, principles of mutual trust, consideration and friendship which prevail among the members of the bourses world-wide. They pledge themselves to abide by and hand down these principles and to ensure that they will forever serve as a basis in business relations between members of the affiliated bourses world-wide.

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