Israel Diamond Exchange Back in Business

(IDEX Online) - The Israel Diamond Exchange (IDE) yesterday re-opened for "new normal" activity after 11 weeks of closure due to COVID-19.

The huge trading floor (pictured) has been divided into separate rough and polished areas, the number of traders has been cut, and tables have been divided by transparent partitions.

Anyone on the floor is required to wear a mask, keep a two-metre distance and sign a daily health declaration.

The IDE, in Ramat Gan, is one of the world's largest bourses, with over 3,000 members. Its president, Yoram Dvash, said last week that the country has lost $300m in profit to coronavirus.

Trade had declined by 90 per cent, he said, and deals worth $1.5bn during March and April had been wiped out by the pandemic.

IDE managing director Eran Zini said: "We are very excited to reopen our trading floor, which is the heart and soul of the Israel Diamond Exchange. This marks a very significant return to "normality" and symbolizes that the diamond industry is back in business.

"Still we are very strictly enforcing government guidelines, since protecting the health and safety of our members is above all."