Stuart Crooks has left his position as head of liquidity at R5FX.
Based in London, Crooks had been with the firm for over three years. His next destination is not known at this point in time.
Prior to joining R5FX in 2013, Crooks worked as the European head of FICC e-commerce sales at RBS and was vice president, FX sales, at Flextrade. He also held FX sales trading roles at UBS.
R5FX and the Shanghai Clearing House (SHCH) will launch a new electronic marketplace next month, in a move which will enable Chinese banks to directly trade offshore RMB with London for the first time.
The platform, called Connect, is due to go-live on 18 December – following confirmation from the People’s Bank of China. Eight Chinese banks will be participating from launch, with further banks and institutions to be added at a later date.
The products available for trading in this first phase will be USD/HKD, GBP/USD and EUR/USD. Profit & Loss understands that CNH and the remaining G10 currency pairs may also be added towards the end of Q1 2018.