On 8 October 1937 the first commercial organization for trading diamonds in Israel was founded – the Israel Diamond Club which operated from a room in the house of Akiva Arie Weiss at 2 Herzl Street, opposite the Herzliya Hebrew High School in Tel Aviv. Club members engaged in trading large stones and jewelry.
From 1938 to1940, the Israel Diamond Club operated out of two rooms on 120 Allenby Street, Tel Aviv.
Between 1940 to 1947, the Israel Diamond Club operated at a large hall located at 62 Allenby Street, Tel Aviv. At the same time, another commercial organization – "The Diamond Society" operated at the same address.
During these years lively, but unorganized diamond trade took place on Allenby Street - between Rothschild Boulevard and Lilienblum Street – on the sidewalk, in cafes, in various trading houses and in the lobby of the Bank of Belgium-Israel, later to become the Union Bank.
February 1946 saw the founding of the Brokers' Organization.
1946 also saw the founding of a society for developing and advancing the diamond trade, housed at Café Platin at the corner of 50 Nahlat Benyamin and 28 Achad Ha'am Street, Tel Aviv. The society was registered in 1947 and in the same year the official opening ceremony was held.
In 1946, the rehabilitation of the Belgian diamond industry after World War II, created a crisis for the diamond industry in Israel. This crisis led to restructuring, with a consequent reduction in the ranks of those engaged in production but a significant increase in the number of diamantaires.
On 7 May 1947, the Eretz Israel Diamond Exchange was founded as a share-holding company with offices in Tel Aviv at 33 Rothschild Boulevard .However, these offices were not used for diamond trading. The members of the Exchange engaged in commerce at the Israel Diamond Club, the hall of the Union Bank and in the Zuckerman and Platin cafes.
In 1947, the Israel Diamond Club and the Eretz Israel Diamond Exchange started to work in collaboration.
In December 1947, both the Israel Diamond Club and the Eretz Israel Diamond Exchange moved to 3 Achuzat Bayit Street in Tel Aviv.
In 1948, the year the State of Israel was established, the Israel Diamond Club changed its name to the State of Israel Diamond Club, Tel Aviv.
In August 1948, a merger took place between three organizations: the State of Israel Diamond Club, the Eretz Israel Diamond Exchange and the Society for the Development of the Diamond profession.
In 1949, all members of the State of Israel Diamond Club were obliged to purchase shares in the Diamond Exchange.
In 1950, the name of the Eretz Israel Diamond Exchange Limited was changed to The Israel Diamond Exchange Ltd.
In 1952, the State of Israel Diamond Club was dismantled and all involved in diamond trading in the Club and Exchange began operating within the framework of one entity – The Israel Diamond Exchange Ltd.
In 1956, an attempt was made to set up a diamond exchange in Netanya.
In 1960, an attempt was made to establish a "Diamond Center" in Jerusalem to include the Diamond Exchange.
In 1961, the Israel Diamond Exchange signed a contract to purchase land in Ramat Gan.
In 1964, the cornerstone was laid for the Diamond Exchange building in Ramat Gan.
On 24 October 1968, the "Shimshon" building was inaugurated– the first of the Diamond Exchange buildings in Ramat Gan.
In 1969, occupancy of the "Shimshon" building commenced.
With the establishment of the "Shimshon" building, the concept of "everything under one roof" started taking root, whereby the buildings of the Diamond Exchange would incorporate in-house all services relevant to businesses and community life of the industry and those employed in it.
In 1974, a new Exchange was founded in Ramat Gan–the "Etgar" ("Challenge") diamond club, otherwise known as "The Small Exchange".
In 1978, the construction of the second building in the Diamond District was completed – the "Maccabi" building. This building was inaugurated in 1979 and occupancy began in 1980.
In 1980, a bridge was erected to connect the "Shimshon" and "Maccabi" buildings.
In 1980, the privately constructed "Noam" building was added to the Israel Diamond Exchange complex.
In 1985, the "Etgar" ("Small Exchange") members joined the Israel Diamond Exchange on an individual basis.
In 1989, a bridge was erected, connecting the "Shimshon" and "Noam" buildings.
In 1993, the "Diamond Tower" was inaugurated. The construction of this tower also involved connecting it to the "Shimshon" building via a bridge.
In 1998, the "Rough Diamond Trade Hall" was inaugurated, embodying the concept of turning the Israeli diamond industry into a trading center for rough diamonds alongside the already existing trading center for polished diamonds, whilst reinforcing Israel's existing diamond production center.
In 2006, the Diamond Exchange began negotiations for incorporating the top ten floors of the "Diamond Tower" into the Diamond Exchange complex.
2008 saw the signing of the agreement that incorporated the top ten floors of the "Diamond Tower" to the closed and secure area of the Diamond Exchange.
From the book "The Jewel in the Crown" by Shira Ami.