EDX, the London Stock Exchange's fledgling derivatives exchange, needs a new head of business development following the resignation of Tom Wolstenholme, who is to become a student.

Wolstenholme's departure comes almost a year after Marc Bailey, EDX's managing director, left to pursue other interests, forcing Wolstenholme to step temporarily into that breach. Next month he starts studying music and the saxophone at the UK's Middlesex University.