Polygon celebrated its 20th anniversary in May 2004. Suppliers have been using the network since 1984 to buy and sell diamonds, colored stones, watches, and estate jewelry. The trading activity that takes place on Polygon is estimated to be millions of dollars per day with membership exceeding 3,000 users.

Polygon has replaced its trading-network environment with completely rewritten, state-of-the-art software, designed to add functionality and make it quicker and easier to use. The new software, under development for nine months, incorporates numerous suggestions and requests from members and is based on current-generation Java code on top of an Oracle database.