Israeli Diamond Exchange (IDE) began initial testing of a new security system designed to identify members of the stock exchange by facial features, gestures and behavior. This system was installed in the building of the Diamond Tower at the entrance to the trading hall, the IDE said.
The pilot project to improve the security system provides for further extended testing during the American and International Diamond Week. The system will be installed on three entrances to the trading floor to identify visitors and foreign buyers, in addition to the IDE participants.
"The Exchange is constantly looking for new technologies that will strengthen and improve the security systems that are currently in place and provide IDE status as one of the safest shopping centers in the world," said IDE President Shmuel Schnitzer.
The improved face recognition system was developed by the Israeli company FST21, headed by Ze'evi Farkash, a former Israeli military intelligence minister. If the test is successfully completed, the new system will relieve the exchange from the need to establish people's identities and the use of detection methods that limit movement, such as biometric scanning.