Spread-betting firm, WorldSpreads (Ireland) is to change its name to MarketSpreads.ie from next Monday. The name change follows the management buyout of the company last year.

Under the terms of the sale, the Irish operation was required to change its name within five months.

The Irish-owned financial spread trading company was co-founded by Brian O’Neill in 2000 and was bought out in a deal worth €11 million. It employs 25 people in Dublin.

Chief executive Mr O’Neill said the company had been trading very well since the start of the year.