MVIS Launches First of Its Kind Diamond Benchmark Index with Diamond Data Derivatives
MV Index Solutions has launched the Universal Standard Diamonds Evaluation 100 Index (USDE) in collaboration with Diamond Data Derivatives Ltd. (“DDD”) and with the calculation agent CryptoCompare.
An investable benchmark index to quantify physical diamonds, the USDE captures the global market for cut and polished wholesale diamonds based on the sales volume of the top 100 traded diamonds. The index, which is composed exclusively of natural lab-graded diamonds, was created by DDD, and will be administered by MV Index Solutions in partnership with CryptoCompare.
“We are proud to partner with DDD to launch the first real-time price index for physical investment-grade diamonds,” said Steven A. Schoenfeld, CEO of MV Index Solutions. “For decades, the global diamond industry has sought an investable index suitable to serve as the benchmark for investment products, and we believe that the USDE100 will fulfill that demand.”
Amir Elizur, CEO of Diamond Data Derivatives Ltd, added:
“Together with our partners, we are laying the foundations for commoditization and reliable market analysis of the wholesale diamond market on an unprecedented scale. We are eagerly looking forward to supporting a variety of investable products and initiatives.”
“We are excited about this collaboration with DDD to offer a new robust investable index that strengthens our mission to innovate and fulfill market needs,” said Quynh Tran-Thanh, Chief Product Officer at CryptoCompare. “We launched the Universal Standard Diamonds Evaluation 100 Index to provide investors with an investment benchmark that offers smart exposure to physical diamonds.”
The USDE100 has been calculated and used privately for several years, having historical information dating back to 2011, and is intended to be published in collaboration with MV Index Solutions on Bloomberg and Reuters via independent third party index calculators.
The launch of the USDE follows a dramatic hike in diamond market prices for the first time in several years. This suggests strong demand for access to commodity-backed diamond investment instruments.
The USDE index is calculated in USD. At each review, all diamond categories in the index universe are ranked by their 12-month sales volume. The top 100 categories by sales volume qualify for index inclusion.
About MV Index Solutions
MV Index Solutions (MVIS) develops, monitors and licenses the MVIS Indices and BlueStar Indexes, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products. MVIS is a VanEck company.
About Diamond Data Derivatives
Diamond Data Derivatives Ltd. is a fintech company that acquires, analyzes, and seeks to commercialize financial data and price trends relating to the wholesale diamond industry. Having originally developed and conceived of the USDE100 Index (USDE), the company seeks to promote and support the commoditization of diamonds by development of financial instruments based on creative and proprietary solutions and methodology, utilizing large-scale reliable and verifiable data.
Among the founders of the company are – Mrs. Varda Shine – former CEO of the De Beers Diamond Trading Company, & Mr. Ran Gorenstein – Former diamond manufacturer, & the creator and owner of the largest known polished diamond in the world (555.55 carat)
Learn more: www.mvis-indices.com
Email: [email protected]
