SIX Digital Exchange’s CEO quits just after 8 months over strategic conflict

Exchanges • August 15, 2019, 7:45AM EDT
UPDATED: August 15, 2019, 7:48AM EDT
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SIX Digital Exchange (SDX), an upcoming cryptocurrency trading platform from Switzerland’s top stock exchange SIX, is losing its CEO just after eight months into the role.

Martin Halblaub, who was heading the SDX, is leaving on Aug. 30, SwissInfo.ch reported Wednesday, citing an internal memo from the exchange.

Halblaub said that while he supports SDX’s ambition and business model, he has decided with a “heavy heart” to leave, given “differing ideas on strategy.” Halblaub reportedly wanted SDX to be launched as an independent company, while the SIX’s board wanted it to operate under the SIX Group.

Tomas Kindler, currently head of business management functions and deputy to Thomas Zeeb, department head of securities & exchanges at SIX, will be replacing Halblaub as interim CEO on Sept. 1.

SIX is looking for a new head at SDX, though Kindler is also a “strong candidate” for the role, per the memo.  The SDX was initially scheduled to launch in mid-2019, but is now expected to go live in the first or second quarter of 2020, per the report.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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