Dubai Mercantile Exchange, the Middle East’s leading energy futures exchange, has announced the appointment of former BNP Paribas senior exec as CEO.
Christopher Fix joins the Exchange after more than 20 years in the international commodity markets, having worked with BNP Paribas in New York, Paris and Asia since 1992.
He was most recently head of marketing for commodity futures, based in Singapore, a position he held for three years.
During this time Fix’s desk increased its customer base in Asia four-fold, a statement said.
Ahmad Sharaf, DME’s chairman, said Fix would “lead the Exchange forward in its drive to increase volumes and achieve true benchmark status for our flagship DME Oman contract”.
He added: “When we rest ructured the DME in February of this year, we signalled our intention to place more emphasis on the increasingly important Asian market.
“The appointment of Christopher Fix as the new DME CEO, with the Asian market knowledge and experience he brings, is a real tangible expression of that commitment.”
US-born Fix, who is fluent in French, speaks excellent Mandarin and conversational Russian, will relocate to Dubai with his family and join DME on August 26.
He said: “I am very excited to be joining at a time when the DME has experienced record volumes in four out of the five months since the beginning of the year, new clients and a revised shareholder structuring.”
Since the beginning of 2012, DME has welcomed new members and shown a significant increase in volumes.
Q1 2012 volumes were 57 percent ahead of Q1 2011 and April saw a new record monthly trading volume with 123,162 contracts.