NYSE Euronext (NYX) said Friday that it has invested $200 million in a rebranded stock exchange in Qatar, a move that gives NYSE Euronext a foothold in a energy-rich Persian Gulf nation that is trying to bill itself as a regional economic center for the Middle East market.

NYSE Euronext and Qatar Holding, the investment arm of the Qatar Investment Authority, said their partnership will give rise to Qatar Exchange, the successor of the Doha Securities Market.

Under the deal, NYSE Euronext is taking a 20% stake in the exchange, with the rest owned by the QIA through Qatar Holding. All workers at DSM will simply be transferred to Qatar Exchange.

NYSE Euronext will provide the technology for the new exchange.

Stock exchanges in the Gulf region have outperformed many of their peers elsewhere in recent years due in part to their fast-growing economies. But the financial crisis has in the past few quarters also hit exchanges there, sapping a lot of trading volume and putting public listings on hold.

Still, Qatar is expected to be the second-largest economy in the Gulf Cooperation Council by 2015, so the move would give NYSE exposure to one of the world's growth areas.

The investment and technology joint venture is part of the country's plans to compete with the financial-services sector in Dubai and Abu Dhabi.

"The start of this relationship between NYSE Euronext and the state of Qatar and Qatar Exchange will add a lot of value to us in terms of technology, in terms of developing the project and in going international," Hussain Al-Abdulla, board member executive of the QIA, told Dow Jones Newswires.

NYSE Euronext CEO Duncan Niederauer said: "Our strategic partnership with the state of Qatar will benefit the Gulf region and customers on a global scale. Our world-class technology, leadership and expertise in the marketplace will complement the strong foundation and vision of our partners."

Niederauer said his company is still on the lookout for potential acquisitions or new investments even after its move into Europe and into countries like Brazil, Malaysia and Japan.

"We're always looking for opportunities to get involved in regions or products that are strategic or present meaningful opportunities for the company," Niederauer said.

NYSE Euronext's $200 million investment is lower than the $250 million it planned for previously but is still the largest investment it has made so far in a foreign exchange.

In explaining the lower investment figure, QIA's Al-Abdulla also said that the Qatari government is planning to publicly list Qatar Exchange soon.

"We asked NYSE Euronext to cut their shareholding from 25% to 20% because we have plans to take the company public in the near future and it will be listed as Qatar Exchange," Al-Abdulla said.

He didn't say when exactly the exchange will be listed.

Qatar Exchange will begin trading Sunday under the new name and a management team led by new CEO Andre Went, an NYSE Euronext executive who was based in Amsterdam.

Al-Abdulla also said the exchange is planning to diversify its business by launching derivatives trading but didn't say when that would happen.

Qatar Prime Minister and Minister of Foreign Affairs Hamad bin Jassim bin Jabor Al-Thani said the opening of the new exchange "paves the way for Qatar to take a prominent role in the world's capital markets for the benefit of both the people of Qatar and the Middle East more generally."

He added the country's vision is to create a "world-class financial center" on par with those in Europe, Asia and the U.S.

Company Web site: www.qia.qawww.nyse.com

-By Vladimir Guevarra and Kerry E. Grace, Dow Jones Newswires. Tel. +44 (0) 2078429486, vladimir.guevarra@dowjones.com