Online stockbroking is expected to take off in the Irish market when the Irish Stock Exchange launches its new Xetra electronic trading system - expected by June. Irish stockbrokers who then have the technology to handle it are expected to offer online broking to clients. And new foreign players are expected to use the technology to enter the Irish market, offering online broking from their home bases. With a number of strong new and existing players expected to offer online stockbroking, there was some surprise about a recruitment advertisement last week for staff for a "start-up" online broking company.

While this operation has not yet applied for the Central Bank licence necessary for membership of the Stock Exchange, market sources say that it will need deep pockets to make an impact.