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.
Andrew Dodsworth, Director of Operations and Risk
Andrew is the Director of Operations and Risk, is responsible for the orderly operation of the market and its clearing and settlement functions. He is also responsible for risk management at DCCC, which is the CCP for DGCX.
Andrew has over 20 years’ experience within exchange derivatives, most recently with the London Metal Exchange, and prior to that at LIFFE. During this period he has seen the migration from open-outcry to electronic trading, and the subsequent development of sophisticated electronic trading including HFTs. Andrew has been responsible for day-to-day operations of derivative markets, across many different asset classes in both Europe and the US, and has wide regulatory experience.
Prior to joining LIFFE, Andrew spent over 10 years in international banking, principally involved in sovereign and corporate lending.
Rajesh Balaram, Director of Finance
Rajesh Balaram, has been associated with DGCX since 2008 and was additionally tasked with the role of Company Secretary in 2010.
Rajesh has a MBA from Manchester Business School with over 18 years of experience in finance, including internal auditing and management consultancy across diverse industries such as – commodities exchange, oil and gas (both upstream and downstream), utilities, shipping, manufacturing and construction.
In his current role and as member of Executive Committee, Rajesh is primarily responsible for overall financial planning and corporate governance, with a core objective to support the board and the management to accomplish DGCX’s strategic and business goals whilst maintaining a robust corporate governance structure.
Prior to joining DGCX, Rajesh worked in a London and Irish listed upstream oil company headquartered in UAE, as Head of Internal Reporting and Assurance with additional responsibility to manage Treasury operations.