Brokers have played an important role as the link or channel of communication between the buyer and the seller for over 100 years. 

Brokers to the Diamond Trading Company (DTC) took on even greater significance in the period between the two world wars when the global market for diamonds was in decline.  Brokers, by virtue of their presence in the local markets, knew potential customers for the DTC, so by bringing clients to London and facilitating the transaction, they offered an invaluable service to the buyers and to the DTC. 

As markets improved, competition for supply among the buyers (Sightholders) became fierce. The brokers’ role became increasingly one of presenting the best case possible for their clients to support requests for allocations of rough diamonds from the DTC.

The DTC use brokers as a channel of communication to their clients whilst brokers help clients by presenting their best case to the DTC. Brokers manage the process of doing business with the DTC and help clients put together applications on a Sight-by-Sight basis and also for their ITOs (Intention to Offer). 

Brokers also play a fundamental role in helping clients put together their applications (profiles) to renew their contracts for supply with the DTC, as well as assisting the DTC in formulating Sightholder policy.

Unlike most brokers, the DTC is not based in the cutting centres and so relies heavily on brokers for support. Brokers conversely are a valuable asset for clients who rely on their knowledge and experience of the global diamond business. Leading brokers are also involved in the secondary trading of DTC goods, helping client source alternate supplies of rough diamonds. 

Whilst the more conservative broking houses continue to offer a traditional service, Hennig has developed its range of services to include consultancy to clients in diverse aspects of their business, from preparing profiles, marketing plans, joint ventures plus mergers and acquisitions.

Hennig, through its network of overseas offices, contacts new, developing companies and helps incubate and prepare companies for Sightholder status.