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1. What is Diamond Trading?

Diamond trading offers Accredited Investors a transparent environment of a global exchange to trade/invest in physically settled GIA-certified diamonds.

Accredited Investors may either buy the GIA-certified diamonds for investment or take physical delivery.

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2. Who sets the prices on the Exchange and how are the prices different from existing diamond markets?

The Singapore Diamond Investment Exchange (SDiX) is the world’s first commodity exchange for physically settled diamonds, offering diamond contracts within the transparent environment of a global exchange.

As SDiX is bringing the commodity exchange platform and ecosystem to the diamond market, there will be a transparent and true price discovery on the platform. Prices are set by both buyers and sellers. With transactional volume and actual transacted prices published, these will soon become global benchmarks for diamonds traded.

SDiX brings both buyers and sellers together in an exchange setting much like other commodity exchanges. As buyers and sellers come together during trading hours, prices are transparent and continuous, and are driven by market fundamentals across all participants.

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3. What products are offered on the SDiX platform?

There will be diamond baskets and single large stones within the polished diamond market.

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4. Where do the diamonds on SDiX come from?

All diamonds offered on SDiX come from approved suppliers who are subject to the SDiX application process and rules. All stones on the platform are GIA-graded and adhere to the Kimberly Process.

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5. What are the market trading hours?

The market will trade from 14:30-18:30 Singapore time and will close for the day at 18:30.

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6. How do I get historical pricing data?

This data can be obtained from the SDiX website. Alternatively you may contact our Client Services hotline at 6536 9338 to direct you to the dealing desk.

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7. How do I place a trade?

Please contact your trading representative to place a trade.

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8. Is a settlement price established?

The settlement price will be established by a volume weighted average price of the trading day.

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9. What is the settlement period of a trade?

Clients are to complete settlement of all diamond trades latest by T+3.

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10. What is the settlement currency for all Diamond Trading?

All products are traded and settled in United States Dollar (USD).

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11. Can clients sell their own diamonds on SDiX?

Currently, diamonds can only be consigned for selling by Approved Suppliers of SDiX.

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12. Do the diamonds bought on SDiX come with GIA certificates?

Yes, every diamond consigned to SDiX comes with a GIA diamond grading report/dossier.

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13. How do I withdraw my diamonds?

Clients will have to submit the withdrawal request through their trading representatives.

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14. What are the trading fees?

Products Transaction Value (USD) Commission Rate Trading Access Fees SDiX Exchange Fees Min Comm (Incl of SDiX fees)
Baskets Any 1% 0.10% 0.25% USD67.50
Single Large Stones < 100,000 1% 0.10% 0.50% USD300
≥ 100,000 1.50% 0.10% 2% N.A

Other Fees UOBKH Fees SDiX Exchange Fees Min Fee (Incl of SDiX fees)
Custody fees per month based on the average inventory 0.005% 0.015% N.A
Withdrawal fees per instance based on value 0.75% 1.25% USD100

All Fees are subjected to 7% GST

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15. Am I eligible to open a Diamond trading account?

Clients will need to qualify as Accredited Investors to open a Diamond trading account.

In Singapore, an Accredited Investor is defined in Section 4A(1)(a) of the Securities and Futures Act (SFA), Chapter 289.

a. NET Personal assets exceeding SGD 2 million (or equivalent in foreign currency). Or
b. Income in preceding 12 months of not less than SGD 300,000 (or equivalent in foreign currency). Or
c. A corporation with net assets exceeding SGD10 million in value (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe, in place of the first amount, as determined by — (A)the most recent audited balance-sheet of the corporation; or (B)where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance sheet, which date shall be within the preceding 12 months;
d. The trustee of such trust as the Authority may prescribe, when acting in that capacity; or
e. Such other person as the Authority may prescribe.

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