The Nasdaq Dubai exchange plans to launch futures contracts this year on companies listed on the Saudi Arabian stock market, the Middle East’s largest, the bourse said on Monday. “The futures will give investors new hedging tools to take long and short positions on the companies, at a time when international investor interest in the Saudi stock market is increasing rapidly,” the bourse said in a statement. Nasdaq Dubai said it will offer future contracts on Saudi companies, which are some of the region’s largest businesses active in sectors such as petrochemicals, real estate, banking and transport. “The framework that we have built for trading and clearing Saudi futures is based on intensive consultations with regional and international market participants including brokers and potential investors," Nasdaq Dubai Chief Executive Officer Hamed Ali said. "Our futures will provide further impetus to investment into the Saudi capital markets and help develop new links with market participants,” he added. The Tadawul stock market index has risen 10 percent this year. Nasdaq Dubai started UAE futures trading in September 2016 with single stock futures on seven UAE-listed companies. That number has since increased to 17, and in February the exchange added futures on Dubai Financial Market’s DFMGI share index as well as the ADI index of Abu Dhabi Securities Exchange. In the meantime, the future contracts market is working with mediation firms in the GCC region and with market makers active in the listed shares contracts in UAE. The future contracts market is preparing for more participation in the market.