IDE Introduces Facial Recognition Program

The bourse is introducing the technology ahead of the April 6-10 U.S. and International Diamond Week in Israel.

The Israel Diamond Exchange (IDE) is bringing in innovative technology for the security systems that control the flow of people into the Ramat Gan diamond exchange complex. 

The In Motion Identification system has a computer software program that will give visitors quick, easy and secure access to the IDE trading floor.

On busy days, as many as 20,000 people enter the diamond exchange complex, the IDE said in a statement.

The In Motion Identification system has a facial recognition program at its core and is designed to provide high-speed and secure access to the exchange.

Upon arrival at the IDE and after registration for the event, visitors will be able to enter and exit the bourse trading floor freely during the five days of the upcoming U.S. and International Diamond Week. Cameras positioned at the entrances of the hall will register traffic and the new system will monitor the entry and exit of all participants.

"The Israel Diamond Exchange is the world's most secure bourse," said IDE President Shmuel Schnitzer. "On the one hand, we are upholding the highest level of security in the buildings and on the floor, and on the other hand we're making efforts to let these measures impact as little as possible on what we come to do here at the IDE: business."

Schnitzer congratulated the IDE management team, led by Moti Besser, and the head of IDE security, Israel Vantovski and his team, for introducing the user-friendly technology so quickly and efficiently at the IDE. "I am sure the visiting buyers to the U.S. and International Diamond Week in Israel will be pleased as well," he concluded.