In a Move to Accelerate Transparency and Development in the Diamond Industry, CEDEX and IDEX Online Join ForcesCEDEX (2:24AM)
Business Wire India
Under the agreement, CEDEX will leverage on IDEX diamond knowledge and real-time diamond prices to present it to its future exchange customers, while IDEX will use CEDEX technology to better accommodate investments in the diamond professional market.
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With over two decades of undisputable reputation as a prominent and unbiased market leader in the diamond industry, IDEX moves to strongly reinforce CEDEX technological innovations. "We believe that the diamond industry stands to gain by connecting with CEDEX B2C offerings, vision, and trading models. The integration into the financial world and the transformation of diamonds into a new financial asset class have been a key driving force behind IDEX's activity since the company's establishment. Joining forces with CEDEX enables us to better serve our diamond suppliers and traders" says Ehud Cohen, Founder and Chairman of IDEX Online. "There is no doubt that harnessing IDEX's diamond suppliers' data and inventory is a pivotal step forward towards connectivity between the diamond industry and the financial market" says Ronen Priewer, founder of CEDEX. "By providing analysis driven from the largest available database of B2B diamond transaction records, IDEX enables our proprietary technology, the DEX, to achieve accurate and scientific results making it a unique diamond value benchmark for any financial need. CEDEX which fosters usage of Cryptocurrency CEDEX coin to enable trading in diamonds is targeting to enlarge the offering through collaboration with IDEX online.
Both companies complement themselves, as IDEX is a B2B reality, while CEDEX is B2C. This creates new opportunities for both companies, enabling mutual methodological advice and benefits deriving from the markets that the companies cover. This move sets both companies to enlarge into the emerging new economy system.
CEDEX is the First Certified Blockchain Based Diamond Exchange.
CEDEX.com is a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets. With its extensive industry knowledge, CEDEX wants to engineer a ground-breaking change – enabling people to liquidate and trade in diamonds like any other financial asset, in a transparent and secure way.
The CEDEX exchange will enable trading on individual diamonds, shares in a high- value stone or shares in a basket of diamonds (ETF). Through the DEX, CEDEX's machine learning algorithm and blockchain technology that rates and evaluates diamonds' prices, traders, buyers and sellers will have full confidence in investing on the platform.
The CEDEX project was founded by a team of professionals in technology (trading platforms and pricing engines), financial markets and the diamond industry.
About IDEX Online
IDEX - International Diamond Exchange - is the leading online diamond-trading platform for professional diamond traders located in the main diamond cities such as Antwerp, Mumbai, Ramat Gan and New York.
IDEX reach into the professional diamond trade is comprehensive - more than 7,000 professional traders use the system regularly; more than 75% of the supply chain inventory is featured on the system. IDEX is a leader and innovator in diamond pricing products and its prices and data has become one of the industry standards. The widely used and followed IDEX Diamond Index has been published continuously since 2004 and is the first and oldest index based on actual listing data.
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