Peculiarities of Organized Diamond Trade

Abstract

The article points out the absence of a normatively determined definition of the term "diamond." However, it is pointed out that it is referred to precious stones. Then, diamonds are related to financial instruments, which are considered in the paper in broad and narrow senses, and to monetary surrogates. In addition, the authors draw attention to the fact that in other branches of law, diamonds are regarded as a commodity. Based on the study of the financial nature of diamonds, the possible ways of organized trade are analyzed: trading in futures on the Stock Exchange, creation of diamond exchanges and foundation of a specialized center to trade in diamonds. Particular attention is paid to the study of the activities of a recently established Eurasian Diamond Center in Russia. Based on the study, the authors have drawn a conclusion that it forms a multifunctional center for organized diamond trade.