Management Team

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.


Rajesh Balaram, Director of Finance

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.


Sasikumar, Director - Business Support Services

Sasikumar, Director - Business Support Services

Sasi has been associated with Dubai Gold & Commodities Exchange (DGCX) since inception.

Sasi holds Master of Engineering in Software Systems along with specialisation in MBA finance. He has unparalleled experience in the areas of Software Development, Application deployment, IT, operations & Membership support. Prior to joining DGCX, Sasi has worked extensively with the varied product distribution of Maximizer Asia Limited.  Currently Sasi is pursuing the research activities on Distributed data in a cloud computing environment.