The Dubai Gold and Commodities Exchange, the Middle Eastern commodities and derivatives market, has named Stephen Gaterell as its new chief executive. Gaterell, a former Merrill Lynch managing director, joins the six-year-old exchange a month after it announced that its total traded volume for 2011 had surpassed three million contracts. Gaterell has previously held senior posts with UBS and Goldman Sachs and was a board member of the Euronext Liffe derivatives trading market.