Delta's European business development director, Chris Curran, told the Sunday Tribune that the firm, which operates under a bookmaker's licence in Ireland, will come under the watch of the Financial Regulator to benefit from the change in EU regulation which takes effect on 1 November.

MiFID will allow Delta to operate in Germany without having a German base or being regulated by the German authorities, said Curran.

"It's great because we're an internet-based company, so it's frictionless for us, " he said. "It's an easier route to market than, say, for pork products."

Delta expects to attract a client base of "tens of thousands" in Germany and use the expansion as a proof of concept for entering other markets such as Italy, Spain and Sweden. It will operate initially as Delta Index, but is aiming ultimately to whitelabel its product for banks.

"There's a myth that Germans are more conservative, but a significant portion have a high risk tolerance, " said Curran. "We see the German market taking off and we want to be a part of it."

Delta Index opened for business in 2004. It offers bets on financial spreads and contracts for difference, which allow clients to take a leveraged position on the price of a security, commodity or index without having to own it.