Russian diamond miner Alrosa has decided to postpone the launch of new diamond futures contracts until the summer of 2017, according to a report put out by Russian news agency TASS. The report quotes an official spokesperson of the company as saying that the trading of investment diamonds on the Moscow Stock Exchange will now commence only later this year.

According to the report, the company has taken this decision to enable it to work out the mechanisms for implementation in greater detail. “We are working to address interests of all market participants and offer a liquid investment and saving mechanism to investors,” the spokesperson is reported to have said.

In the first phase, Alrosa plans to launch trading in supply futures contracts for diamondsin sizes 0.3 and 0.5 carats, it was reported. trading in 1 carat diamonds at a later stage, the spokesperson added.

This will be first time across the world that trading in diamonds futures contracts is being conducted, the spokesperson told TASS, adding that Alrosa estimated that the market for this new investment instrument could be about 3 bln rubles ($51.6 bln) at the outset.