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Israel Diamond Exchange elects Avi Paz as new president.

The membership of the Israel Diamond Exchange has elected Avi Paz as the bourse's next president. He replaces Shmuel Schnitzer, who steps down after serving three consecutive two-year terms as president, the longest period allowed by the IDE constitution.

Paz, who previously served as IDE vice president, won the top spot after a second round of voting on April 21, where he faced off against Avraham (Bumi) Traub, another IDE vice president. Paz won 54 percent of the 1,551 votes cast.

In the first round of voting three days earlier, Paz stood against Traub and

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