DODAQ: an online diamond exchange

Isaac Mostovicz writes...

Now this is interesting–a new online diamond exchange called DODAQ is launching soon. Its goal is to transform the trading of polished diamonds, from trades based on existing weekly price sheets to a real time, automated pricing mechanism. Such a system will give people a lot more data–they’ll have benchmarks to compare their trades with and will be better able to tell whether they’re getting a good deal.

DODAQ’s success will largely depend on whether people are willing to use it, and how well the company can prove that it has created a trustworthy marketplace. While many traders may welcome the greater transparency inherent in an online exchange, others who are established in their ways may be less willing to adopt.

The DODAQ exchange hasn’t launched yet, but they do currently have a simulator running so people can get a feel for the service.

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