Israel Diamond Exchange (IDE) President, Shmuel Schnitzer, "The exchange is continuously looking into new technologies that can strengthen even further the tight security systems that already exist as befits the status of one of the safest business centers in the world."
The IDE's Security Department, led by Security Committee Chairman Shalom Papir, is currently checking an advanced facial recognition system at the entrance to the rough trading hall which identifies facial features, as well as looking at visitors' body language and behavior.
The aim of the pilot phase is to identify exchange members entering the rough diamond hall from the Diamond Tower building. During the trial, no physical barrier is being placed at the entrance to the hall and an IDE security team is responsible for checking and dealing with people wishing to enter the hall.
The current phase is preparation for a more widespread implementation of the system that is likely to be carried out during the US/International Diamond Week at the bourse next month which will cover the three entrances to the hall as well as guests, visitors and buyers from abroad.
To participate in the experimental phase, people need to register, have their picture taken and give their name and IDE badge number, a process which takes less than a minute. The system will automatically recognize people going into the rough trading hall. Members who have undergone the registration process are asked to look at the device that is set up at the entrance until a green light comes on.
The advanced facial recognition system, developed by Israeli start-up FST21 under the leadership of former Military Intelligence head Aharon Ze'evi Farkash, is considered one of the most advanced systems of its kind in the world. One of its greatest advantages is its ability to recognize authorized visitors while they are moving and without having to make their entry dependent on biometric scans which cause delays.
The system has done away with the need for human detection capabilities, and creates an optimal balance between providing different permission options when entering secure areas and visitor convenience. The system uses multiple recognition technologies in parallel, using common hardware components available on the market today, including surveillance cameras, without requiring applications or adding hardware.
The system is currently used by many institutions and bodies in Israel and abroad, including Ben Gurion Airport, schools and campuses in the United States, industrial buildings, and private homeowners who need advanced security systems, among others.
IDE President-Shmuel Schnitzer welcomed the beginning of the experimental stage saying: "Security in the exchange is one of the most important issues that we need to deal with. The exchange's management and the Security Committee headed by Chairman Shalom Papir, work tirelessly to improve the level of security at the exchange.
"The exchange is continuously looking into new technologies that can strengthen even further the tight security systems that already exist as befits the status of one of the safest business centers in the world."
Papir, said, "The new system, in which tens of millions of dollars have been invested, puts the Israel Diamond Exchange on the cutting edge when it comes to securing facilities and spaces. At the end of the first phase of the pilot, we will hold an in-depth discussion and consider expanding the use of the system, so that it can recognize visitors entering the trading hall."
IDE CEO Moti Besser commented: "The IDE operates in a number of areas to improve security in the exchange's buildings in general and the trading hall in particular. The new system will allow us to further strengthen the monitoring of people entering the trading halls and enable us to increase the level of security without effecting ease of entry into the halls.
"I would like to thank the IDE's security security head, Israel Vantzofski, and the director of the control center, Tzafrir Rosenfeld, and everyone else who contributed to the beginning of the trial phase to make it work."
