Equiti Group appoints ex-DGCX CEO Gaurang Desai to lead strategy

Rick Steves

Gaurang Desai eyes FY2022 and beyond as the most important years for rolling out dApps as well as products/services delivery models using blockchain and smart contracts across geographies.

Equiti Group has announced the appointment of Gaurang Desai as Managing Director of Strategy for his unique understanding of the needs of today’s financial markets and appropriate strategies to meet regulatory challenges.

Bringing more than 25 years of experience working across financial exchanges, market infrastructures, and with regulators, Gaurang Desai has established and managed several exchanges and Clearing Houses/CCPs along the way.

Experience from DGCX and UAE’s Securities and Commodities Authority

Gaurang Desai is a founding member of the Dubai Gold and Commodities Exchange (DGCX Group) and previously held the role of Chief Operating Officer for almost ten years.

There, he established and managed the operations for the Dubai Commodities Clearing Corporation (DCCC), the largest CCP in the MENA region to offer a full range of clearing services to its customers.

Through his hard work and nurturing, DCCC saw its clearing and settlement framework supported by a healthy ecosystem of banks, custodians, collateral managers, warehouses, vaults, assayers, security, and network service providers.

In August, he was promoted to the role of Chief Executive Officer of the DGCX Group to lead the development and execution of the group’s long-term strategy.

Under his leadership, DGCX Group was authorized as a Third Country CCP (TC-CCP) by the European Securities and Markets Authority (ESMA), the Monetary Authority of Singapore (MAS), the Dubai Financial Services Authority (DFSA), and the ADGM-FSRA for the DCCC.

In mid-2018, Gaurang Desai became an Advisor for Financial Markets to the UAE’s Securities and Commodities Authority (SCA), a globally renowned regulatory agency.

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Gaurang Desai joins Equiti with blockchain on his mind

At Equiti Group, Gaurang Desai will focus on helping the company expand its already impressive geographic footprint, its products and services portfolio.

He will leverage the learnings of the pandemic and eye FY2022 and beyond as the most important years for rolling out dApps as well as products/services delivery models using blockchain and smart contracts across geographies.

Iskandar Najjar, Chief Executive Officer at Equiti Group, said: “We are very pleased to welcome Gaurang to the Equiti Group, and highly value his experience and knowledge of global best practices in the implementation of new generation products and delivery models, different aspects of licensing, and working with exchanges in regulated markets.

“Equiti Group has ambitious plans to roll out new offerings in 2022 as well as enter new global markets and regulatory requirements are a key part of all our new offerings.”

Gaurang Desai, Managing Director of Strategy for Equiti Group, said: “My key mission will be to support the ambitions of Equiti Group and the expansion of its global footprint, building new partnerships, adding business lines, and expanding its services portfolio.

“Leveraging on the learnings of the pandemic, 2022 and beyond will be important years for rolling out new generation products and service delivery models across geographies to create a significant value proposition for our clients and all of Equiti Group’s stakeholders.”

Equiti Group is behind some of the most progressive FX and CFD brands and prime brokerage providers in the industry, with a global footprint across the globe and offices in Europe, the Middle East, the Americas, Africa, and the Asia Pacific regions.

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