Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.
DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. The Management team of DGCX comprises senior personnel from the commodities, securities and financial services industries bringing a wealth of experience and expertise to ensure the success of DGCX.
DGCX's range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset class of commodity and currency derivatives.
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Guaranteed settlement and reduced counterparty risk provided by Dubai Commodities Clearing Corporation (DCCC), a 100% subsidiary owned of DGCX |
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The advantage of transacting and clearing business within the UAE and thus the local taxation and regulatory regimes |
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A simple fee structure – one fee for all participants. All participants also pay the same margin, whether commercial or non-commercial entities |
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An opening to both regional and international liquidity pools |
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Robust risk management and surveillance systems |
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Uninterrupted trading hours from 07:00 to 23:55 hours Dubai time (GMT +4) |
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Regulated by the Securities & Commodities Authority (SCA) |
The UAE enjoys an ideal location between the time zones of Europe and the Far East and DGCX offers a range of products from the precious metal, base metal, energy and currency sectors.
Board of Directors
Ahmed Bin Sulayem
Chairman
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Feryal Ahmadi
Director
In her position as Chief Operating Officer for the DMCC, Feryal Ahmadi oversees the company’s corporate governance and sustainability initiatives and drives its vision to remain the authority on international commodities trade and enterprise.
Feryal is also responsible for DMCC’s ‘Smart District’ strategy and leads all corporate divisions including Human Resources, Information Technology, Marketing and Communications, Procurement, Legal and Compliance.
Presiding over a successful transformation project in 2013 that significantly enhanced DMCC operations and its customer journey experience, Feryal leads the wider operational team tasked with growing the world’s leading free zone. Through long-term strategic planning and continuous strive for innovation and excellence, she has been one of the fundamental pillars behind DMCC achieving its international status and recognition today.
In addition, Feryal serves as an official spokesperson for DMCC in national and international media, continuously working to strengthen and increase the organization’s global positioning.
Feryal earned an Executive MBA from Harvard University and a Bachelor of Science degree in Computer Science from the American University in Sharjah.
Ahmed Bin Sulayem, Chairman
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Feryal Ahmadi, Director
In her position as Chief Operating Officer for the DMCC, Feryal Ahmadi oversees the company’s corporate governance and sustainability initiatives and drives its vision to remain the authority on international commodities trade and enterprise.
Feryal is also responsible for DMCC’s ‘Smart District’ strategy and leads all corporate divisions including Human Resources, Information Technology, Marketing and Communications, Procurement, Legal and Compliance.
Presiding over a successful transformation project in 2013 that significantly enhanced DMCC operations and its customer journey experience, Feryal leads the wider operational team tasked with growing the world’s leading free zone. Through long-term strategic planning and continuous strive for innovation and excellence, she has been one of the fundamental pillars behind DMCC achieving its international status and recognition today.
In addition, Feryal serves as an official spokesperson for DMCC in national and international media, continuously working to strengthen and increase the organization’s global positioning.
Feryal earned an Executive MBA from Harvard University and a Bachelor of Science degree in Computer Science from the American University in Sharjah.
Jignesh Sanghvi
Director
Jignesh Sanghvi, DMCC’s Chief Financial Officer joined the organisation over 10 years ago as a business analyst.
Since then Jignesh has been instrumental in transforming the organisation – whether it meant successfully navigating through choppy waters during the global recession – or more recently digitalising the business to ensure DMCC’s employees and customers can operate as efficiently as possible.
With over 14 years of industry experience Jignesh is responsible for financial strategy and corporate governance, with a core objective to cement DMCC’s position as the global hub for commodities trade and enterprise. Strategic planning, strong financial leadership combined with maintaining the highest level of corporate governance are key drivers to succeed in this field.
Graduating with a bachelor’s degree in commerce from Gujarat University, Jignesh is a registered chartered accountant in India, United Kingdom and the United Arab Emirates. He also received his postgraduate diploma in business administration with a specialisation in finance from Symbiosis Pune in 2007.
The award-winning CFO also took on the role of Company Secretary on DMCC’s Advisory Committee in 2015.
Tariq Bin Hendi
Independent Director
Tariq Bin Hendi was most recently an Executive Vice President and the Head of Wealth Products & Advisory at Emirates NBD Group, having formerly served as the CEO of Emirates NBD Asset Management. He has almost two decades of experience, primarily focused on asset management, private equity and investment banking. Prior to his current role, Tariq held various roles at Commercial Bank of Dubai, Mubadala, Citigroup, Dubai Holding, Delta Airlines and UPS. He is currently a board member of the publicly listed entities ENBD REIT (NASDAQ) and AXA Green Crescent (ADX), having previously served on the Board of Aramex. He holds a PhD in Economics from Imperial College London (UK) as well as MBA and bachelor degrees from Columbia University (USA), London Business School (UK), and Clayton State University (USA) and is a YPO member.
Jignesh Sanghvi, Director
Jignesh Sanghvi, DMCC’s Chief Financial Officer joined the organisation over 10 years ago as a business analyst.
Since then Jignesh has been instrumental in transforming the organisation – whether it meant successfully navigating through choppy waters during the global recession – or more recently digitalising the business to ensure DMCC’s employees and customers can operate as efficiently as possible.
With over 14 years of industry experience Jignesh is responsible for financial strategy and corporate governance, with a core objective to cement DMCC’s position as the global hub for commodities trade and enterprise. Strategic planning, strong financial leadership combined with maintaining the highest level of corporate governance are key drivers to succeed in this field.
Graduating with a bachelor’s degree in commerce from Gujarat University, Jignesh is a registered chartered accountant in India, United Kingdom and the United Arab Emirates. He also received his postgraduate diploma in business administration with a specialisation in finance from Symbiosis Pune in 2007.
The award-winning CFO also took on the role of Company Secretary on DMCC’s Advisory Committee in 2015.
Tariq Bin Hendi, Independent Director
Tariq Bin Hendi was most recently an Executive Vice President and the Head of Wealth Products & Advisory at Emirates NBD Group, having formerly served as the CEO of Emirates NBD Asset Management. He has almost two decades of experience, primarily focused on asset management, private equity and investment banking. Prior to his current role, Tariq held various roles at Commercial Bank of Dubai, Mubadala, Citigroup, Dubai Holding, Delta Airlines and UPS. He is currently a board member of the publicly listed entities ENBD REIT (NASDAQ) and AXA Green Crescent (ADX), having previously served on the Board of Aramex. He holds a PhD in Economics from Imperial College London (UK) as well as MBA and bachelor degrees from Columbia University (USA), London Business School (UK), and Clayton State University (USA) and is a YPO member.
Ahmed Bin Sulayem, Chairman
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Feryal Ahmadi, Director
In her position as Chief Operating Officer for the DMCC, Feryal Ahmadi oversees the company’s corporate governance and sustainability initiatives and drives its vision to remain the authority on international commodities trade and enterprise.
Feryal is also responsible for DMCC’s ‘Smart District’ strategy and leads all corporate divisions including Human Resources, Information Technology, Marketing and Communications, Procurement, Legal and Compliance.
Presiding over a successful transformation project in 2013 that significantly enhanced DMCC operations and its customer journey experience, Feryal leads the wider operational team tasked with growing the world’s leading free zone. Through long-term strategic planning and continuous strive for innovation and excellence, she has been one of the fundamental pillars behind DMCC achieving its international status and recognition today.
In addition, Feryal serves as an official spokesperson for DMCC in national and international media, continuously working to strengthen and increase the organization’s global positioning.
Feryal earned an Executive MBA from Harvard University and a Bachelor of Science degree in Computer Science from the American University in Sharjah.
Jignesh Sanghvi, Director
Jignesh Sanghvi, DMCC’s Chief Financial Officer joined the organisation over 10 years ago as a business analyst.
Since then Jignesh has been instrumental in transforming the organisation – whether it meant successfully navigating through choppy waters during the global recession – or more recently digitalising the business to ensure DMCC’s employees and customers can operate as efficiently as possible.
With over 14 years of industry experience Jignesh is responsible for financial strategy and corporate governance, with a core objective to cement DMCC’s position as the global hub for commodities trade and enterprise. Strategic planning, strong financial leadership combined with maintaining the highest level of corporate governance are key drivers to succeed in this field.
Graduating with a bachelor’s degree in commerce from Gujarat University, Jignesh is a registered chartered accountant in India, United Kingdom and the United Arab Emirates. He also received his postgraduate diploma in business administration with a specialisation in finance from Symbiosis Pune in 2007.
The award-winning CFO also took on the role of Company Secretary on DMCC’s Advisory Committee in 2015.
Tariq Bin Hendi, Independent Director
Tariq Bin Hendi was most recently an Executive Vice President and the Head of Wealth Products & Advisory at Emirates NBD Group, having formerly served as the CEO of Emirates NBD Asset Management. He has almost two decades of experience, primarily focused on asset management, private equity and investment banking. Prior to his current role, Tariq held various roles at Commercial Bank of Dubai, Mubadala, Citigroup, Dubai Holding, Delta Airlines and UPS. He is currently a board member of the publicly listed entities ENBD REIT (NASDAQ) and AXA Green Crescent (ADX), having previously served on the Board of Aramex. He holds a PhD in Economics from Imperial College London (UK) as well as MBA and bachelor degrees from Columbia University (USA), London Business School (UK), and Clayton State University (USA) and is a YPO member.
Leadership Team
Ahmed Bin Sulayem
Chief Executive Officer
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Louis Hems
Commercial Director
Louis Hems is the Commercial Director of the Dubai Gold and Commodities Exchange, previously he undertook the role of Global Head of Sales at DGCX, managing international market makers, liquid providers and relationship management. Louis is from the UK, bringing with him more than 10 years’ experience in commodity and financial market sales, specialised in spot & future markets, technology & regulatory aspects of exchange traded derivatives. Louis formerly held management roles for other exchanges based in London, and an International clearing bank.
Louis holds a degree in engineering and MBA from Bayes Business School (formerly Cass Business School).
Ahmed Bin Sulayem, Chief Executive Officer
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Louis Hems, Commercial Director
Louis Hems is the Commercial Director of the Dubai Gold and Commodities Exchange, previously he undertook the role of Global Head of Sales at DGCX, managing international market makers, liquid providers and relationship management. Louis is from the UK, bringing with him more than 10 years’ experience in commodity and financial market sales, specialised in spot & future markets, technology & regulatory aspects of exchange traded derivatives. Louis formerly held management roles for other exchanges based in London, and an International clearing bank.
Louis holds a degree in engineering and MBA from Bayes Business School (formerly Cass Business School).
Adel Abu Assaf
Director of Information Technology
Adel Abu Assaf is the Director of Information Technology for both DGCX and DCCC (“the DGCX Group”). He is responsible for the management, strategy and execution of IT infrastructure for the organization. He oversees IT operations, technical needs and the necessary Governance to facilitate the day to day business operations and to efficiently and effectively meet the goals and objectives of the business.
Adel has almost 20 years of experience in the IT domain in the Capital Markets sector. He served at the Amman Stock Exchange (ASE) for more than 18 years where he was in charge of the IT function as the Director of the IT department. During his work tenure, Adel managed to combine technical hands-on and managerial experience in operating, supervising and managing a mission critical IT operations environment in a very dynamic and demanding sector, where the availability and low latency of the systems were of utmost importance.
Adel holds an M.Sc. degree of Information Technology Management (ITM) from the University of Sunderland, UK having previously attained a B.Sc. in Electronics Engineering from the Princess Sumaiya University for Technology, Jordan.
Maggie Mansour
Compliance Director
Maggie Mansour is responsible for the Compliance and Membership function for both DGCX and DCCC (“the DGCX Group”). She is responsible for DGCX Group’s compliance with regulatory requirements as well as ensuring that DGCX Group Members comply with both DGCX By-Laws and DCCC Clearing Rules, as appropriate. She is also responsible for maintaining relationships with national and international regulators, covering both day-to-day issues as well as the strategic initiatives undertaken by DGCX Group.
Maggie has over 10 years’ experience in the risk and regulatory field in both the banking and financial services industry at: Bank of Jordan; Byblos Bank; and Menacorp Financial Services. She has filled key roles including Internal Auditor, Head of Compliance and Money Laundering Reporting Officer.
Maggie is a holder of a Master’s Degree in Financial Management from the Arab Academy for Banking & Financial Sciences, and a Master of Law (LL. M.) from University of Dubai with focus on Financial Crimes and Anti-Money Laundering. She is an Associate member of the Chartered Institute of Securities & Investment CISI, and a Certified Anti-Money Laundering Officer by the Global Academy of Finance and Management GAFM.
Adel Abu Assaf, Director of Information Technology
Adel Abu Assaf is the Director of Information Technology for both DGCX and DCCC (“the DGCX Group”). He is responsible for the management, strategy and execution of IT infrastructure for the organization. He oversees IT operations, technical needs and the necessary Governance to facilitate the day to day business operations and to efficiently and effectively meet the goals and objectives of the business.
Adel has almost 20 years of experience in the IT domain in the Capital Markets sector. He served at the Amman Stock Exchange (ASE) for more than 18 years where he was in charge of the IT function as the Director of the IT department. During his work tenure, Adel managed to combine technical hands-on and managerial experience in operating, supervising and managing a mission critical IT operations environment in a very dynamic and demanding sector, where the availability and low latency of the systems were of utmost importance.
Adel holds an M.Sc. degree of Information Technology Management (ITM) from the University of Sunderland, UK having previously attained a B.Sc. in Electronics Engineering from the Princess Sumaiya University for Technology, Jordan.
Maggie Mansour, Compliance Director
Maggie Mansour is responsible for the Compliance and Membership function for both DGCX and DCCC (“the DGCX Group”). She is responsible for DGCX Group’s compliance with regulatory requirements as well as ensuring that DGCX Group Members comply with both DGCX By-Laws and DCCC Clearing Rules, as appropriate. She is also responsible for maintaining relationships with national and international regulators, covering both day-to-day issues as well as the strategic initiatives undertaken by DGCX Group.
Maggie has over 10 years’ experience in the risk and regulatory field in both the banking and financial services industry at: Bank of Jordan; Byblos Bank; and Menacorp Financial Services. She has filled key roles including Internal Auditor, Head of Compliance and Money Laundering Reporting Officer.
Maggie is a holder of a Master’s Degree in Financial Management from the Arab Academy for Banking & Financial Sciences, and a Master of Law (LL. M.) from University of Dubai with focus on Financial Crimes and Anti-Money Laundering. She is an Associate member of the Chartered Institute of Securities & Investment CISI, and a Certified Anti-Money Laundering Officer by the Global Academy of Finance and Management GAFM.
Ahmed Bin Sulayem, Chief Executive Officer
Ahmed Bin Sulayem has been on the board of directors of DGCX since inception, and took charge as the new DGCX chairman on November 2007. The appointment of Ahmed Bin Sulayem adds momentum to the strategic growth plans of DGCX, which has witnessed remarkable growth right from its inception, both in terms of volumes traded as well as total revenue.
As the Executive Chairman and Chief Executive Officer of DMCC, he has spearheaded the success of DMCC in Dubai’s commodity market. Prior to joining DMCC in 2002, Ahmed was a director in ASTECO, one of the largest property management companies in Dubai.
Louis Hems, Commercial Director
Louis Hems is the Commercial Director of the Dubai Gold and Commodities Exchange, previously he undertook the role of Global Head of Sales at DGCX, managing international market makers, liquid providers and relationship management. Louis is from the UK, bringing with him more than 10 years’ experience in commodity and financial market sales, specialised in spot & future markets, technology & regulatory aspects of exchange traded derivatives. Louis formerly held management roles for other exchanges based in London, and an International clearing bank.
Louis holds a degree in engineering and MBA from Bayes Business School (formerly Cass Business School).
Adel Abu Assaf, Director of Information Technology
Adel Abu Assaf is the Director of Information Technology for both DGCX and DCCC (“the DGCX Group”). He is responsible for the management, strategy and execution of IT infrastructure for the organization. He oversees IT operations, technical needs and the necessary Governance to facilitate the day to day business operations and to efficiently and effectively meet the goals and objectives of the business.
Adel has almost 20 years of experience in the IT domain in the Capital Markets sector. He served at the Amman Stock Exchange (ASE) for more than 18 years where he was in charge of the IT function as the Director of the IT department. During his work tenure, Adel managed to combine technical hands-on and managerial experience in operating, supervising and managing a mission critical IT operations environment in a very dynamic and demanding sector, where the availability and low latency of the systems were of utmost importance.
Adel holds an M.Sc. degree of Information Technology Management (ITM) from the University of Sunderland, UK having previously attained a B.Sc. in Electronics Engineering from the Princess Sumaiya University for Technology, Jordan.
Maggie Mansour, Compliance Director
Maggie Mansour is responsible for the Compliance and Membership function for both DGCX and DCCC (“the DGCX Group”). She is responsible for DGCX Group’s compliance with regulatory requirements as well as ensuring that DGCX Group Members comply with both DGCX By-Laws and DCCC Clearing Rules, as appropriate. She is also responsible for maintaining relationships with national and international regulators, covering both day-to-day issues as well as the strategic initiatives undertaken by DGCX Group.
Maggie has over 10 years’ experience in the risk and regulatory field in both the banking and financial services industry at: Bank of Jordan; Byblos Bank; and Menacorp Financial Services. She has filled key roles including Internal Auditor, Head of Compliance and Money Laundering Reporting Officer.
Maggie is a holder of a Master’s Degree in Financial Management from the Arab Academy for Banking & Financial Sciences, and a Master of Law (LL. M.) from University of Dubai with focus on Financial Crimes and Anti-Money Laundering. She is an Associate member of the Chartered Institute of Securities & Investment CISI, and a Certified Anti-Money Laundering Officer by the Global Academy of Finance and Management GAFM.
Eren Gegin
Head of Clearing and Risk Management
Eren Gegin is the Head of Clearing and Risk Management in the Dubai Gold and Commodities Exchange (DGCX). He has more than 20 years of experience in the global financial markets. Prior to joining DGCX, Eren has held different managerial roles to lead Risk, Compliance and Business Transformation functions for the Exchanges, top regulators, and global banks where he has helped these Firms deliver long-term, strategic, large-scale business and risk transformation programmes and improvements.
Eren holds a Doctorate in Banking and Finance and Masters degree in Exchanges and Capital Markets.
Eren Gegin, Head of Clearing and Risk Management
Eren Gegin is the Head of Clearing and Risk Management in the Dubai Gold and Commodities Exchange (DGCX). He has more than 20 years of experience in the global financial markets. Prior to joining DGCX, Eren has held different managerial roles to lead Risk, Compliance and Business Transformation functions for the Exchanges, top regulators, and global banks where he has helped these Firms deliver long-term, strategic, large-scale business and risk transformation programmes and improvements.
Eren holds a Doctorate in Banking and Finance and Masters degree in Exchanges and Capital Markets.
Eren Gegin, Head of Clearing and Risk Management
Eren Gegin is the Head of Clearing and Risk Management in the Dubai Gold and Commodities Exchange (DGCX). He has more than 20 years of experience in the global financial markets. Prior to joining DGCX, Eren has held different managerial roles to lead Risk, Compliance and Business Transformation functions for the Exchanges, top regulators, and global banks where he has helped these Firms deliver long-term, strategic, large-scale business and risk transformation programmes and improvements.
Eren holds a Doctorate in Banking and Finance and Masters degree in Exchanges and Capital Markets.
Vision, Mission & Core Values
VISION
To be the Exchange and Clearing House of Choice in the GCC region.
MISSION
Through innovation, commitment to excellence and working with all our partners.
CORE VALUES
All DGCX employees must adhere to the core values to ensure the successful achievement of the Group’s Vision
- Delivering
Delivering diversified global products, using demain-driven innovative product development ideology, supportive structuring solutions for effective financial risk management, economic development and help improve market efficiency. - Global
We combine global expertise of multicultural and multilingual professionals, offering exchange traded business solutions to global participants seeking multi asset global products and positioning DGCX as a truly global derivatives excahange. - Collaboration
We strive to act in a manner that builds trust and long-lasting relationships with our market participants and other partners, under a collaborative, constructive and cohesive business framework. - Expertise
We continuously strive to improve on our expertise by setting and achieving challenging goals. We all work with a holistic approach to find the best solutions for the business and our partners.