CEO of SIX’s Digital Asset Exchange Resigns over Strategy Disagreement

Switzerland-based SIX stock exchange has just lost a key official in charge of its digital assets exchange, SDX.

As detailed by on August 15, SDX CEO Martin Halblaub has revealed he will be leaving the exchange just eight months after taking on the position.

A contradiction over the longer-term course of the in-development exchange is said to be behind the move, with Halblaub having needed to spin off the SDX into an independent company. The board, however, felt the upcoming platform ought to remain under the SIX Group umbrella.

In an internal memo circulated on August 13, Halblaub wrote:

“I fully support SDX’s ambition and business model and would have loved to lead SDX into the future. However, I have decided with a heavy heart – given our differing ideas on strategy, combined with the stretch the role is for my life model – that I cannot engage in a long term commitment as Head of SDX.”

Replacing Halblaub as interim chief executive beginning September 1 will be Tomas Kindler – presently chief of business management and deputy to Thomas Zeeb, head of securities and exchanges of SIX.

Kindler may remain as CEO, but the exchange stated it has begun to hunt for candidates for the position.

Halblaub has also served as a senior advisor to SIX since 2016, and will “continue to be available to support SDX,” as per the notice which was authored by Zeeb.

In May, Zeeb said that the SIX’s planned digital exchange would launch with a native token and an “initial digital offering” (IDO) service next year. That would take after a trial anticipated to be completed late this summer.