The Central Bank has removed its suspension on the trading license of Marketspreads, permitting the spread betting firm to re-open for business.

Grant Thornton confirms that client monies at MarketSpreads are segregated and intact.

MarketSpreads, the Irish former spread betting arm of now defunct spread betting provider WorldSpreads has been ordered by the Irish Central Bank to suspend the provision of investment services to current and new clients.

Spread betting provider MarketSpreads has settled its dispute with two ex-executives who purportedly diverted funds from the company to another enterprise they were involved in.

Irish based spread betting provider Marketspreads is suing former company executives Brian O’Neill and Fergus Rice for an amount equivalent to €1.4 million that they routed from the enterprise to another company in which they were involved.

The CEO of spread betting group WorldSpreads has warned investors that revenues from its divisions in continental European markets haven’t risen as quickly as initially anticipated and that it may take some months before the performance improves.