Greencore chairman Ned Sullivan might want to see the back of CFDs (contracts for difference) in the Irish market, but British-based CMC Markets plans to make them more easily available to Irish investors from next week onwards.

Founded in 1989, CMC will officially open its Dublin office at a bash next Thursday evening, with Minister for Enterprise and Employment Micheál Martin lined up to do the honours.

No expense has been spared. A plush new office on Upper Hatch Street has been leased, kitted out with high-spec Italian furniture, new IT equipment and 22-seat meeting room for investor seminars and education evenings.

CMC, which is 10 per cent owned by Goldman Sachs and handles about 16 million trades a year, will offer CFDs and financial spread betting products over time.

The Dublin operation is headed by Declan Bourke, who spent more than a decade working in the IT industry in Japan. He said the company would not be targeting high rollers and he doesn't envisage it being used by Liam Carroll types, looking to build a large position in a public company with a view to influencing its future ownership. Its products will include a stop-loss facility, limiting the amount a punter can lose by betting on a CFD.

CMC will employ 10 staff here. It seems a hefty overhead to carry and represents a big bet on Ireland at a time when the markets are in a slump.