Les Male, Chief Executive Officer

Les Male, Chief Executive Officer

Les Male is the Chief Executive Officer of the Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives Exchange in the Middle East. Les has nearly 30 years experience in the Global Commodities industry with particular expertise across Exchanges, risk management and trading systems. As an extensively networked business leader with a consistent track record of driving new business, he builds outstanding customer relationships, whilst protecting and growing shareholder return.

Les joins DGCX from NASDAQ where he was responsible for client facing activities on the Global Commodities product suite across UK based Prop shops, brokers, market makers, trading companies and Clearing Merchants (GCM’s) trading crude oil, fuel oil, gas and power derivatives and OTC swap contracts.

A double Engineering graduate from the University of Bath, he joined British Gas as a pipeline engineer before managing strategic projects for the Network Code, culminating in leading the development of Europe’s first gas spot market (the OCM). He later became Commercial Director at EnMO and then continued in that role for APX-Endex, the Anglo-Dutch European gas and power trading Exchange. In 2010 he became the European Managing Director for the Green Exchange, a US backed venture for global carbon trading. After acquisition by the CME Group, his role took on the European gas and Global LNG strategy for NYMEX, prior to joining NASDAQ in 2014.


Navin D'souza, Director of Operations

Navin D'souza, Director of Operations

Navin has been associated with Dubai Gold & Commodities Exchange (DGCX) as Director Operations since 2007.

Navin is a qualified Chartered Accountant & Chartered Financial Analyst holding a Master’s degree in Finance. He has unparalleled experience in the areas of Operations , Risk Management and Cash Management in Electronic Exchanges and Banking industry. Prior to joining DGCX, Navin has worked with National Stock Exchange of India and international banks like Deutsche Bank.


Basab Banerjee, Director of Technology

Basab Banerjee, Director of Technology

Basab Banerjee, Director of Information Technology has been associated with the Exchange since inception. He oversees the technology initiatives and IT operations at DGCX, comprises the functions of IT planning, enterprise architecture, solutions delivery, services management and IT governance. A part of Management team he is responsible for providing strategic direction on technology investment to meet DGCX & DCCC business objective and growth plan.

Basab has over 20 years of rich experience in the design & deployment of low latency and mission critical applications & Exchange technology. Prior to joining DGCX in 2005, he has been instrumental in setting up multi-asset Exchange infrastructure like Multi Commodity Exchange of India Ltd. (MCX), IBS-Forex and Inter-connected Stock Exchange of India Ltd.


Nirav Barfiwala, Director of Risk

Nirav Barfiwala, Director of Risk

Nirav Barfiwala, Director of Risk, has been associated with the Exchange & Clearing Corporation since inception in 2005. He overlooks the risk management at DCCC, the wholly owned subsidiary (CCP) of DGCX.

Nirav has more than 15 years of varied experience in the field of Risk management, Market Operations & Surveillance. Prior to joining DGCX, he has worked in various reputed international financial institutions such as National Stock Exchange of India ltd (NSE), NCDEX (National Commodity & Derivatives Exchange Limited) and Morgan Stanley, India.