The stock exchange

Antwerp was the site where the first market places opened their doors. The neophyte may think that the designation "stock exchange" sounds like a large diamond auction room, as is shown on television or in programmes dedicated to Stock Exchanges.
The diamond market place has nothing to do with this cliché since speculation is non-existent!

Trade hazards are well defined : any supply or demand is carefully assessed and discussed.

Sets are offered to prospective clients. The two sides calmly discuss around a table and deal with the quality and value of the sets.

You will never hear shouting since standing is a done thing.

All traders attending the diamond market place must wear a tie. If they forget this accessory, one will be lent to them. Close by, telephones allow the brokers to quickly contact their office.

By 10 am, the auction rooms are invaded by brokers, traders, producers…all gathered in small groups, as they read and discuss the information from the large boards which show the demand from every office… While some firms order goods to stock up again, others strive to meet foreign demand.

By 12 am, the auction room is overcrowded. Among the traders who are discussing, some hold bags full of goods and try to catch prospective clients. Some of the foreign buyers who gained access to the room settle near the large, north-oriented panoramic windows in order to benefit from the light that helps when examining the stones.
The quiet atmosphere of the morning then becomes tense. There is a rush towards the monitor to check the last price of the dollar or of foreign currencies.

By 1 pm, lunchtime, anxiety is lessening. The afternoon is more peaceful. Veteran diamond experts play chess or cards, while the younger traders continue the momentum in the client or goods hunt.

Any diamond expert who is a member of a market place is submitted to strict rules. Any lack of discipline can cost them dearly. When a member is evicted on the grounds of a serious mistake, the sentence will automatically be generalised to all of the other 21 market places. His name and picture will be displayed in every auction room worldwide, giving the reason for his eviction.

Security is another asset of the market place.
Every possible security system( electronics, video cameras, wardens…) is in operation.
That is the reason why diamond merchants try to install their office either close to the market place, or in the very building itself.
Besides security equipment, a shorter distance between private offices and the market place or the strong room allows greater security for such precious stones.