Steam has officially launched its new Trading feature today following last month's open beta.

Thanks to an auto update which has just gone live, you can now trade Steam Gifts and in-game items from Team Fortress 2, Portal 2 and Sega adventure Spiral Knights with other members of the Steam community.

Valve is apparently working with other developers to incorporate the service in their games, with further announcements expected over the coming months.

For the full lowdown on how item trading works, check out the Steam FAQ.