The Dubai International Financial Exchange, the Gulf market that is one-third owned by Nasdaq OMX, has outlined plans to host derivatives trading later this year, a week after NYSE Euronext agreed to build a derivatives platform in Qatar.

The DIFX system will allow investors to trade options and futures of the exchange's own listed stocks as well as other stocks and indexes in the region, according to a source close to the matter. The platform will go live in the second half of this year, subject to regulatory approval.