London Diamond Syndicate was formed in 1890 to

London Diamond Syndicate was formed in 1890 to

• A. A historic group of diamond merchants formed in 1890 to buy and sell rough diamonds.
• B. A group of diamond merchants that united in 1890 to buy and sell rough diamonds.
• C. A marketing consortium formed in 1920
• D. A government regulatory body for diamond trade

Answer: (B)

A syndicate in this field is a cooperative formed by merchants to coordinate trading activities. In 1890, London Diamond Syndicate brought diamond merchants together to unite their buying and selling of rough diamonds, creating a shared marketplace and standard practices. That description fits best because it emphasizes the collective nature and the specific product involved—rough diamonds—rather than a government body or a later marketing effort. The other options describe a different purpose or a different time, which doesn’t match how a private trade syndicate operates.

A syndicate in this field is a cooperative formed by merchants to coordinate trading activities. In 1890, London Diamond Syndicate brought diamond merchants together to unite their buying and selling of rough diamonds, creating a shared marketplace and standard practices. That description fits best because it emphasizes the collective nature and the specific product involved—rough diamonds—rather than a government body or a later marketing effort. The other options describe a different purpose or a different time, which doesn’t match how a private trade syndicate operates.