Dubai Diamond Exchange - DDE
Dubai Diamond Exchange
The gateway to the global diamond trade
Located in Almas Tower, the Dubai Diamond Exchange (DDE) is home to over 1000 domestic and international precious stones companies conducting business at the heart of the region’s diamond trade.
Through membership of the DDE, precious stones traders and service providers are connected to a globally accepted governance and trade practice framework and as such, benefit from access to new markets and greater trust that this brings.
The DDE is the only bourse in the Gulf Cooperation Council (GCC) affiliated with the World Federation of Diamond Bourses (WFDB). It brings together several large-scale initiatives, such as rough and polished diamond tenders and trade benefits for pearls and coloured stones.
DDE membership serves as a mark of distinction, opens doors and affords access to the global diamond trade network. The DDE ensures its members to have the safety of trading only with reputable companies who adhere to its compliance guidelines and are bound by a strict code of ethical business practice.
Member benefits
Membership benefits and compliance requirements
Members can host tenders at the DDE tender facility and receive priority notifications in regards to all announcements regarding auctions, tenders, and industry events and news.
Regular networking opportunities, including trade events and coffee clubs ensure members have the chance to interact with industry leaders and peers. The DDE also supports the delivery of important international events, such as the biennial Dubai Diamond Conference.
The DDE assists members with international dispute settlement. As a member of the World Federation of Diamond Bourses (WFDB), the DDE has authority to arbitrate and resolve disputes for members with verdicts withheld in other WFDB affiliated bourses.
All DDE members are subject to stringent DMCC compliance procedures, including a declaration of compliance with the DDE Code of Business Conduct and DDE By-laws.
Becoming a member
Various types of memberships
The DDE membership is available to any interested local and international trading, manufacturing and jewellery companies, as well as those in the polishing of jewellery, pearls and precious stones trade.
Classes of corporate membership:
- DMCC DDE Membership Type 1 – automatically acquired by DMCC member companies operating in the jewellery trading; pearls and precious stones trading; precious jewellery manufacturing; or precious stones cutting and polishing, subject to payment of the DDE Membership Fee;
- DMCC DDE Membership Type 2 – can be acquired by any DMCC member company;
- Non-DMCC DDE Membership – can be acquired by any non-DMCC company;
- DDE Affiliated Industry Body Membership – can only be acquired by a member company of DDE Affiliated Industry Bodies.
Membership classes 2, 3 and 4 are subject to submission of a completed application form to the Company Secretary (and any relevant supporting documents as requested) and the DDE Membership Fee. Acceptance as a DDE Member is at the sole discretion of the Company Secretary.
Corporate governance and compliance
DDE promotes the interests and development of trade in the United Arab Emirates (UAE), and offers a dispute resolution service.
DDE is governed by a Board of Directors in line with the DDE By-laws, which all members of the exchange must adhere to.
In addition to the By-laws, every member is required to submit a declaration of compliance with the DDE Code of Business Conduct.
Compliance documents
Click below to download a copy of compliance documents related to DDE
- The DDE By-laws outline the corporate governance of the DDE, membership types and requirements of being a member, and the arbitration process.
- The DDE Code of Business Conduct sets out the key principles that DDE Members are expected to adhere to in order to maintain the highest possible standards in the Trade.
- The WDC SOW Guidelines are intended as a guide to the industry for self-regulation in order to strengthen consumer confidence in diamonds whether in rough or polished form.
DDE’s membership in other international associations
The DDE is a member of various international industry organisations and associations. Focused on enhancing the diamonds and precious stones supply chain, the DDE develops regulations to ensure that business within its parameters is conducted in an ethically responsible way, and in line with the international compliance trade standards.
- World Federation of Diamond Bourses (WFDB) – Executive committee member of the WFDB, a federation of diamond bourses, in which the individual bourses maintain their autonomy in all internal matters, while agreeing that decisions made at the local level comply with a general and dynamic legal framework, ratified by the WFDB General Assembly, acting in its capacity as the supreme legislative organ of the federation. WFDB leads, advises and manages its affairs with the objective of securing growing, profitable, respected and sustainable international diamond industry.
- World Diamond Council (WDC) – Board member of the WDC, an industry body that consists of businesses and organisations around the globe engaged in every sector of the diamond trade, from producer to retail, that focuses on continuing preventing trade in conflict diamonds.
- Responsible Jewellery Council (RJC) – Trade associate member of the RJC, a whole-of-supply chain standards initiative for the jewellery supply chain, from mine to retail. It is unique in its participation of organisations at every step in the value chain, each bringing commitment to a responsible supply chain and implementation of responsible business practices.
- The World Jewellery Confederation, CIBJO – Member of CIBJO, an organisation that represents the interests of all individuals, organisations and companies earning their livelihoods from jewellery, gemstones and precious metals, covering the entire industry from mine to marketplace in the various production, manufacturing, trading and retail centres.
- Diamond Producers Association (DPA) – Working together on the industry-wide issues with the DPA, an organisation formed by the world’s leading diamond companies in order to maintain and enhance consumer demand for, and confidence in diamonds. By promoting the integrity and reputation of diamonds and the diamond industry, the DPA plays a central role in ensuring the long-term sustainability of the sector.
- The Diamond Development Initiative International (DDI) – DDE supports the core activities of DDI, including its strategic sustainability programme aligned with the 2030 Agenda for Sustainable Development and the SDGs. In the result of the joint project, DDI provides organisational and educational support to 10 miners' cooperatives in three provinces of the Democratic Republic of Congo (DRC), which includes training on mining best practices and DDI's Maendeleo Diamond Standards, KP requirements for internal controls; and the relevant provisions of the national Mining Code, diamond valuation and market information.
- DiamondFacts – An independent source of information about diamonds that are connected to different diamond industry resources, such as World Diamond Council, Kimberley Process, Diamond Development Initiative, Diamond Producers Association, Diamond Empowerment Fund and Responsible Jewellery Council.
MyKYCBank platform
An industry-wide initiative to boost compliance and transparency
The DDE is the only trade body in the GCC that provides access to MyKYCBank, an industry-wide platform designed to simplify the KYC workload of its members, enhance transparency and reduce costs associated with managing compliance operations.
In order to join, visit www.MyKYCBank.com
Centralised system for completing KYC formalities- Global standards for KYC in the gems and jewellery industry
- Convenience in sharing of KYC data with counterparties
- Changes in the KYC information are immediately available to stakeholders
- Full control of data sharing permissions
- Access to data for banks and financial institutions
- Cost reduction of managing compliance data
- Increased transparency across all industry stakeholders
- Enhanced confidence to improve financing opportunities
Project of GJEPC through an independent subsidiary- Membership acquired through authorised industry body – Dubai Diamond Exchange
- Global roll-out across the industry