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DMIA, JBT create diamond-information platform

September 20, 2007

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Warwick, R.I.—The Diamond Manufacturers and Importers Association of America (DMIA) and the Jewelers Board of Trade (JBT) have announced a new initiative to develop a specialized Diamond Industry Information Platform.

The goal is to create a real-time reporting system that will better enable diamond manufacturers, importers and dealers to make well-informed credit decisions with data expanded to include memorandum exposures.

The DMIA has been working with the JBT on the project to leverage the credit-reporting infrastructure the JBT already has in place.

The new system will depend on participants to supply timely and continuously updated information.

"As the industry moves toward a deeper level of transparency, the sharing of this type of information becomes increasingly critical to the effective management of day-to-day decisions," the organizations said in a statement.

The DMIA is also reaching out to its peer organizations in the diamond industry to encourage participation. The hope is that the program will be pan-organizational, engaging the cooperation of the industry's leaders for the collective benefit the diamond sector.
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