Fair Trade, who finished 10th in the 2000 Guineas in 2010, is on course to make his hurdling debut in the next couple of weeks.
Still owned by Raymond Tooth, the five-year-old left David Elsworth before the start of the latest Flat season and joined Hughie Morrison. He failed to recapture his best form - he was rated rated as high as 110 - and has now joined Alan King for a campaign over obstacles.
"Fair Trade worked well last Saturday, and I have been pleased with his schooling as he can get in close and still put himself right," King told www.alankingracing.co.uk.
"I'd like to start him off on a flat track, and we will look for a race next week or maybe the week after."
Tooth's racing manager Tony Stafford said: "Fair Trade is a big horse with no end of scope, but he has not helped his cause by getting very buzzed up, so it was great to see him so relaxed on the gallops.
"Maybe it is the change of scenery, but he looks a different horse and could be quite exciting."
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