Gaurang Desai is stepping down as CEO of the DGCX

Gaurang Desai is stepping down as Chief Executive Officer of the Dubai Gold and Commodities Exchange (DGCX) effective 18th February to pursue the next chapter of his career.

Starting as Head of Operations in 2005, Gaurang was promoted to Chief Operating Officer in 2008 and assumed the role of Chief Executive Officer in 2015.

During his 12 years tenure at DGCX, Gaurang was responsible for introducing several technology and product innovations which saw the Exchange deliver a record 17.4 million contracts with an underlying value of over US$ 400 billion in 2017. We take this opportunity to thank Gaurang for his contributions and wish him every success as he transitions into the next phase of his career.

Formerly at Nasdaq, Les Male will assume the role as Chief Executive Officer with immediate effect. Les brings with him over 25 years of international and diversified experience in the Exchange and Clearing Commodities trading sector.

About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy, equities and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information:

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognized as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe. For more information:

Further Information:

Meng Chan Shu

Director of Business Development and Sales

Dubai Gold and Commodities Exchange

Tel: +971 4 361 1660



Dhanya Issac/Lara Batato

Weber Shandwick PRs

Tel: +971 4 445 4222

Email: or

Tags: 2018