Financial trading firm IG Group has officially opened its Irish operations.

The London-based company, which specialises in spread betting, will initially have a small team based in its Dublin office but anticipates that that will grow in the short term.

IG Group announced plans for an Irish office last year and said the financial trading market here is estimated to be worth around €20 million.

Declan Bourke, who is managing director of the Dublin team, said the move would allow financial traders to better access their products.